September 12, 2008
Ministry of Commerce Delegates Authority for Approving Foreign-Invested Commercial Enterprise to Provincial Counterparts
On September 12, 2008 the Ministry of Commerce ("MOC") issued a
circular (the "Circular") delegating more authority to the MOC's
provincial counterparts in approving foreign-invested commercial
enterprises ("FICEs"), substituting the Circular of MOC regarding
delegating the power of approving FICEs to provincial counterparts. MOC
limited its approval rights to FICEs that conduct non-store sales of
products by means of television, telephone, mail order, Internet and/or
vending machines, the wholesale of audio-video products, as well as the
distribution (wholesale and retail) of books, newspapers, and
periodicals. The Circular further states that all other FICEs shall be
approved by MOC's provincial counterparts, including changes with
respect to FICEs that are already established.
Copyright ©2008 by Kaye Scholer LLP. All Rights Reserved. This publication is intended as a general guide only. It does not contain a general legal analysis or constitute an opinion of Kaye Scholer LLP or any member of the firm on the legal issues described. It is recommended that readers not rely on this general guide but that professional advice be sought in connection with individual matters. References herein to "Kaye Scholer LLP & Affiliates," "Kaye Scholer," "Kaye Scholer LLP," "the firm" and terms of similar import refer to Kaye Scholer LLP and its affiliates operating in various jurisdictions.
Copyright ©2008 by Kaye Scholer LLP. All Rights Reserved. This publication is intended as a general guide only. It does not contain a general legal analysis or constitute an opinion of Kaye Scholer LLP or any member of the firm on the legal issues described. It is recommended that readers not rely on this general guide but that professional advice be sought in connection with individual matters. References herein to "Kaye Scholer LLP & Affiliates," "Kaye Scholer," "Kaye Scholer LLP," "the firm" and terms of similar import refer to Kaye Scholer LLP and its affiliates operating in various jurisdictions.