Foreign-founded companies will not have to go to the Ministry of Commerce for
the approval procedure as of March.
Starting from March 1 this year, local commerce departments and
state-level economic development zones will be authorized to
approve the establishment of foreign invested companies, according
to a recent notice released by the ministry.
The notice also said that these companies included wholesale
enterprises selling ordinary goods and small- and medium-sized
retail enterprises.
Since its entry into the World Trade Organization in 2001, China
has been honoring its commitment to further opening service trade
industries.
Last year, the country promulgated or revised laws and
regulations on distribution industry, direct selling, auction,
franchise, auto sales, etc.
(Xinhua News Agency February 5, 2006)
