CHANGES IN REGULATION
Doing business in China is becoming easier and more appealing for foreign companies now that the WFOE set-up process has been simplified.
In early September a new set of rules were released to ease the burden on the business environment within China by reducing bureaucracy and increasing transparency. The rules specifically support Foreign Invested Enterprises (FIEs) and took effect from October 1st 2016. Among the amendments in the law, it was decreed that Ministry of Commerce (MOFCOM) approval will no longer be required; instead only online filing will be needed. However it is important to note that this will only apply to those businesses not listed on the negative list.This article was written by and published on PTL Group. Original Post: http://www.ptl-group.com/blogs/en/wfoe-set-up-in-china