Approval Procedures for Investment

Approval Procedures for Investment

Investment examining and approving procedures in Jinan should be conducted according to relevant national regulations. The basic procedures are as follows:

Step one: Pre-approval certification of the project (in some sectors, enforcement according to relevant national laws and regulations);

Step two: Approval of Foreign Trade Licenses. Apply for the license file and the Foreign-Invested Enterprise Approval Certification;

Step three: Apply for Business License of Industrial and Commercial Enterprises;

Step four: Handle Organization Code Certificate, tax registration, Customs registration, bank accounts and other following procedures that enterprise need to operate.

According to its economic development, China will make some adjustments to foreign investment policies when appropriate. Consultation on matters related to foreign investment can be conducted at the windows of the Jinan Approving Service Center of the Jinan Foreign Trade and Economic Cooperation Bureau, at the foreign trade bureaus of Jinan (counties or districts), at the External Examination and Approval Service of the Investment Service Center, or you can seek advice from Jinan Foreign Investment Promotion Agencies, where you can learn about the latest policies on industrial investment and approval issues.

Guidance on Foreign Investing Industries

The current policy of foreign investment guidance in Jinan is the Industrial Catalog for Foreign Investment (2007 Amendment), which came into force on Dec 1, 2007, jointly promulgated by the National Development and Reform Commission and the Ministry of Commerce. The industrial catalog can be divided into encouraged, restricted and prohibited investment projects or areas, while unidentified ones are permitted investing projects or areas.

We mainly encourage foreign investment in modern agriculture, high-tech industries, equipment manufacturing, new materials manufacturing and infrastructure. We encourage foreigners to invest in service outsourcing and modern logistics. We do not encourage any more foreign investment in traditional production industries with mature technology and strong production capacity. This reflects the principles of promoting upgraded industrial structures and expanding opening-up.

We encourage foreign investment in developing circular economies, clean production, renewable energy and protection of the eco-environment. We also encourage foreign investors to make comprehensive use of investment resources. We have abolished resource-based industries and eco-impact projects with high energy consumption and high pollution. This reflects the government's principles of resource-saving and environmental protection.