|
|
|
The rules in Shanghai are basically the same as in the rest of China. Projects of investment greater than USD 30 million must gain the approval of the relevant body of the State Council in Beijing after review by the Shanghai municipal government. Projects involving USD 10 - 30 million can be approved at the municipal level, depending on the location. Projects located in Pudong or Waigaoqiao can be reviewed by the appropriate departments in these areas. Projects in the rest of Shanghai should submit plans to the Shanghai Municipal Foreign Investment Commission. Projects of USD 10 million or less can be approved at the district, county, or bureau level. Two major government agencies are responsible for foreign trade and investment in Shanghai. The Shanghai Municipal Foreign Trade and Economic Commission (SMERT) oversees foreign investment, trade policy, and the regulatory environment in Shanghai. The Foreign Investment Commission (FIC) is specifically responsible in many ways for joint ventures and WOFEs as well as for projects with investment between USD 10 and 30 million. They will help foreign investors by introducing Shanghai's investment environment and policies, recommending proper partners, offering various consulting services on policies, laws and regulations, handling complaints, etc. To get started, contact these critical organizations to help determine the relevant government's policies toward an individual project or industry. In addition, foreign chambers of commerce, and professional consulting companies can assist foreign firms in navigating the maze of bureaucratic entanglements associated with investing in China.
Representative Office | Joint Venture
|
||||
|
|
||||
