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Corporate Service - China

Question

Implementation of registration and confirmation system for commercial entities in Lingang New Area of Shanghai Free Trade Zone

Answer
On September 7, 2020, a release ceremony of the implementation measures for the registration and confirmation system of commercial entities in the New Lingang area of China (Shanghai) pilot free trade zone was held in the multi-function hall on the third floor of F area of Lingang New Area Management Committe. Several relevant departments attended the event and jointly announced that the business subject confirmation system was officially implemented in the industry city integration zone of Lingang New Area.

Q:
Why did the measures come out?
A:
Since the opening of the New Lingang District, 15115 new registered enterprises have been established, with a year-on-year increase of 70%. The registered capital exceeded 200 billion yuan, with a year-on-year increase of 313%. In order to better combine the bold innovation and exploration concept of the new district with the reform of commercial subject registration, and carry out the registration of commercial subject more efficiently and conveniently, the New District Management Committee and the municipal market supervision bureau benchmarked international and combined with the actual situation of the new area, and introduced the implementation measures for the registration and confirmation system of commercial subject in the new area near port of China (Shanghai) pilot free trade zone (Trial).

Q:
What is the "one goal" of the measures?
A:
The implementation of the registration and confirmation system of commercial entities is an important measure to implement the reform task of investment and trade liberalization in the overall plan for the new port area. It will eventually achieve "one goal", conform to the international commercial rules, greatly reduce the institutional cost of market access, and return the autonomy of production and operation and investment to accelerate the entry of commercial entities into the market and carry out commercial activities The speed of movement.

Q:
Which two measures have been adopted?
A:
It is clear that the nature of the registration of commercial subject is administrative confirmation, and the examination method is formal review.

Q:
Which "three opening-up" measures promote?
A:
It will simplify the examination and approval of the registration items such as the name of the enterprise, the address of the enterprise and the scope of business of the market subject to the maximum extent.

  • The commercial subject name registration implements the notification undertaking. For applications that meet the requirements, after the applicant has made relevant commitments, the registration authority will not conduct manual examination on whether the name is similar to others. The registration authority shall not register the names that have passed the computer automatic comparison of the enterprise name self declaration system when they involve social and public interests, public order and good customs, public misunderstanding, etc.

  • The residence of the commercial subject shall meet the requirements of the administrative measures of Shanghai Municipality on the registration of enterprise residence and the requirements of the administrative committee of xinpian district on the corporate residence in xinpian district. The qualified commercial subject can use the centralized registration place as the residence registration.

  • The business scope of commercial subject shall be declared independently. The applicant can check the business scope online and select the business scope independently. The registration authority will no longer examine the business scope that has been selected independently.

Q:
What are the "four enhancements" in the implementation of the measures?
A: To strengthen the supervision and inspection of all kinds of registered items of commercial subject under the confirmation system; to strengthen the differential supervision based on the credit evaluation standard of commercial subjects; to strengthen the correction and remedy of false registration; to strengthen the punishment of the relevant responsible persons of false registration.

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