Mianyang Offers "Green Passage" for the Record-Filling for Foreign Investment
2018-04-28

The Efficiency was Improved from 20 Business Days to 6 Hours

"This is an example of the fastest and most effective administrative procedures for foreign investment. It required an approval from departments at the provincial level within 20 days before and now it was done within 6 hours", said an official from Mianyang Municipal Bureau of Commerce. He said that Mianyang Haisheng Construction Co., Ltd., a newly established enterprise with foreign investment, completed its record-filing and registration within 6 hours. The company has started its projects with registered capital of RMB 108 million.

The municipal bureau of commerce started a new record-filing system for foreign investment since 12 January this year, offering "green passage" for the newly established foreign-invested enterprise, for example, Mianyang Haisheng Construction Co., Ltd. During the process of record-filing and registration, as the applicant of Mianyang Haisheng Construction Co., Ltd. is in not in Mianyang, there's inconvenience in communication and changes in documents. The municipal bureau of commerce immediately requires the Xianhai District Administrative Committee to delegate a specialist to coordinate the communication between the enterprise and the bureau, helping the enterprise to make changes in its documents. The staff in the municipal bureau of commerce offers instructions for the delegated staff and the enterprise by phone calls, emails and screenshots, which helps the enterprise to change information on the system and submit all the documents, and complete the record-filing and registration within 6 hours.

The official from the municipal bureau of commerce said that the enterprise has a total investment of RMB 1.08 billion and a registered capital of RMB 360 million. Now the company has obtained its registered capital and has started its projects. This is an example of the fastest and most effective administrative procedures for foreign investment. It required approval from departments at the provincial level within 20 days before but now it was done within 6 hours. It was highly spoken by many enterprises.

Reforms, innovations, and services are the keys to speed up the process. The enterprises will enjoy more convenience, which will save more costs and improve the efficiency of administrative approval. Thanks to the deepening reform of the administrative approval system, the municipal bureau of commerce includes the establishment of enterprises with foreign investments and changes in the record-filing in the administrative services in the reform of the system for the foreign investment over the past years. Professional staff was delegated to the window for administrative approval to implement the reform.

The municipal bureau of commerce also includes the administrative procedures related to foreign investment, foreign trade, and international economic cooperation in the reform projects and established record-filing management. In 2016, the municipal bureau of commerce and Mianyang Entry-Exit Inspection and Quarantine jointly proposed that the business certificate and record-filing registration for foreign trade companies will be combined with the certificate of "Self inspection ¡°and "country of Origin Inspection". In 2017, the record-filing and registration of foreign investment were included in the reform checklist in 2017. The municipal bureau of commerce and its service office in the administrative service center will study and learn the laws, regulations and policies regarding foreign investment on a regular basis. They will coordinate with other departments to provide more efficient and convenient services for the enterprises and the public, in accordance with the Action Plan for Establishing a Service-Based Government, to establish a government that provides satisfying services for people.