Changchun Commercial Administrative Window for Examination, Approval and Instruction of Foreign Investment
1. Examination and Approval of Foreign-funded Projects in China
A In accordance with the current laws, a procedural registration system for examination and approval of foreign-funded enterprises is adopted. What mainly distinguish the purview of rights of the central government and the local governments are the total investment amount and the classification of projects in the Catalogue of Guidance for Foreign-funded Industries.
* China National Development and Reform Commission and the Ministry of Commerce of China are responsible for the examination and approval of the encouraged and granted projects with a total investment of over USD 100 million each, and the restricted projects with a total investment of over USD 50 million each;
* The competent authorities in different provinces, autonomous regions and municipalities are responsible for the examination and approval of the encouraged and granted projects with a total investment of less than USD 100 million each, and the restricted projects with a total investment of below USD 50 million;
* Projects under the examination and approval of the competent authorities in Changchun include:
1. The Non-restrictive foreign-funded enterprises with a total investment of less than USD 30 million;
2.The Non-restrictive foreign-funded projects invested with less than USD 30 million each and reported to the competent department under the State Council and the watchdog in the field for registration; The foreign-funded projects which are related to quotas and licenses shall apply to the department in charge of foreign trade and economic cooperation for quotas and licenses; The projects which are related to the industrial administration shall be agreed by the authorities in the field in advance.
Changchun New and Hi-tech Development Zone (below USD 30 million), Changchun Economic Development Zone (below USD 30 million), and Jingyue Economic Development Zone (below USD 10 million)
B Legalized and Promised Processing Time
1. In accordance with the Law on Foreign-funded Enterprises, the examining and approving authority shall, within 90 days from the date of receiving all the required documents for the application of the establishment of aforeign-funded enterprise, decide to or not to decide to approve such application. Upon approval, a testimonial of approval for establishment of a foreign-funded enterprise shall be issued to the applicant. With such testimonial, the applicant can go through relevant procedures for registration.
2. The legalized processing time for the transaction of a foreign-funded enterprise is 30 days, and promised processing time is one to three days.