Foreign-funded firms initiated under new law

Writer: Chen Siqi  |  Editor: Stephanie Yang  |  From: Shenzhen Daily 

Twto foreign-invested enterprises, which were officially established yesterday, received their business licenses in Shenzhen based on the new foreign investment law, according to the Shenzhen Municipal Market Supervision and Regulation Bureau.

Lingzhan Logistics (Shenzhen) Co. Ltd. and Shenzhen Xiaoshenlong Sports Technology Co. Ltd. passed the examination of the bureau and became the first batch of enterprises to receive business licenses under the new law.

Both of the enterprises have been set up in Qianhai.

Lingzhan Logistics (Shenzhen) Co. Ltd. is a Hong Kong-invested enterprise with Linghang Logistics Co. Ltd. as its Hong Kong-based shareholder and a man surnamed Su as the Chinese mainland shareholder. The newly established company is mainly engaged in modern logistics, and sea, land and air transportation business.

Shenzhen Xiaoshenlong Sports Technology Co. Ltd. is a Macao-invested enterprise, which is co-invested by one Macao and three mainland shareholders. The company mainly runs physical education consultation, sports competition organization and sports technology research and development businesses.

By the end of 2019, 67,940 foreign-invested enterprises had been established in Shenzhen, with a total investment amount of US$421.6 billion, according to the Municipal Market Supervision and Regulation Bureau.

Now that the new law has come into effect, a foreign investor can register directly at the market supervision and regulation department rather than having to register at the commerce department. Additionally, investors are required to submit information online as well as handing in hard copies of the application documents.