| The
"Measures on Approving Mainland Enterprises to Establish Companies
in Hong Kong or Macao" (the Measures) has been announced by the
State Council and the Ministry of Commerce on September 6. New application
process will only take 15 days instead of 6 months before. The aim
of the Measures are to simplify the application processes and reduce
approval time for Mainland enterprises to invest and set up businesses
in Hong Kong and Macao. In the past, the gate is only open to national
enterprises. But now, all private enterprises are allowed to apply.
With the view
to facilitate CEPA, the Ministry of Commerce simplified the investment
processes and encourage Mainland enterprises invest business in
Hong Kong or Macao. The State Council joined the Ministry of Commerce
in making these measures.
The Measures
include the requirements to establish business, approval standards
and application processes to prevent different explanations from
the approval departments.
The Measures
also listed out all the related application documents, for example
application form and the PRC business registration etc. In addition,
it has stated clearly the respective responsibilities of local or
state Ministries of Commerce for different types of application.
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