New policies allow for easier business in Shenzhen

New policies allow for easier business in ShenzhenIn response to the municipal government request to accelerate economic upgrading, Shenzhen administration formulated 28 policies making it easier for entrepreneurs to do business in Shenzhen.

Foreign investors are allowed to full ownership of Shenzhen companies owned by Chinese, and the Chinese are now allowed to set up high tech enterprises with foreign individuals and corporations. Highlights of the policies is to encourage optimization of foreign investment structures plus boost the development of  joint ventures. These policies will enhance upgrading and adjustments to the city industrial structure and encourages development of emerging industries especially the high tech industries in Shenzhen.

Foreign and Chinese entrepreneurs are no longer required to separate residential address from their company address. One address can be used in several enterprises involved in investment, fund management and e-commerce. Branches are also not required to apply for a different business license except those that activities are not part of the company business license.

Street vendors now are no longer required to apply for business licenses, they only need to apply for a business permit from the urban management office. New companies can also register with a different name with the same address as the processing company since the administration removed several restrictions and ceased verifying validation period of business licenses.

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