Foreign Investment Can Hold 100% Of The Ministry Of Industry And Commerce: Shanghai Free Trade Zone Will Liberalize The Electricity Supplier.

The Ministry of industry and information technology issued a circular in January 13th.

It will liberalize online data processing and e-commerce business, and the proportion of foreign equity can reach 100%.

The pilot work was organized and implemented by the Shanghai communications administration.

The circular said that the Shanghai communications authority should organize the pilot work of this business opening according to the relevant requirements, strengthen the guidance and supervision of foreign-funded enterprises, monitor and assess the pilot situation, and regularly report the relevant information to the Ministry.

(Shang Zi)

The following is the full text of the circular:

About China (Shanghai)

Liberalization of online data processing and paction processing business (business e-commerce) Notice of foreign ownership ratio restrictions

In order to support the China (Shanghai) free trade pilot area (hereinafter referred to as the trial area) to achieve the goal of opening up, promoting reform and promoting innovation through the opening up to create a replicable and popularized experience, according to the requirements of the the third Plenary Session of the 18th CPC Central Committee liberalization of foreign investment access restrictions in the field of electronic commerce and the decision of the State Council on the temporary adjustment of administrative examination and approval or special administrative measures specified in the State Council documents in the free trade pilot area of China (Shanghai), the Ministry of industry decided to liberate the proportion of foreign equity in online data processing and paction processing business (e-commerce), and the proportion of foreign equity can reach 100% in the pilot area. [2013]51

According to the Ministry of industry and information technology, the Shanghai communications administration shall issue "China (Shanghai)".

The notice on the pilot management of value-added telecommunications business in the pilot area (Ministry of industry and Commerce [2014]130) and the notice of this circular organized the pilot work of this business opening, strengthened the guidance and supervision of foreign-funded enterprises, monitored and assessed the pilot situation, and regularly reported the relevant information to the Ministry.

This Circular shall be implemented from the date of promulgation.