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Dongguan and Hong Kong Sign Cooperation Framework Agreement on Commercial Registration
2019-07-31 09:43     Source : Dongguan Foreign Investment Promotion Center

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The scene of the signing ceremony of "Dongguan-Hong Kong Cooperation Framework Agreement on Commercial Registration"

On July 18, Dongguan hosted the seminar on deepening the reform of the business system and  building a top-notch business environment in the Greater Bay Area and the special session of the reform of the business system under the strategic forum on market regulation and development. The seminar was cohosted by the Development Research Center of the State Administration for Market Regulation, Guangdong Provincial Administration for Market Regulation and the People's Government of Dongguan Municipality. The seminar has seen the signing of the "Dongguan-Hong Kong Cooperation Framework Agreement on Commercial Registration" by the People's Government of Dongguan Municipality, China Legal Service (H.K.) LTD. and the Association of  China-Appointed Attesting Office Limited, which prompted Dongguan to be the first prefecture-level city in China that has signed a cooperation framework agreement on commercial registration. The event was attended by Fu Wenbiao, Director-General of the Development Research Center of the State Administration for Market Regulation, Xiao Yafei, Deputy Secretary of Dongguan CPC Municipal Committee and Mayor, Zhang Wenxian, Deputy Director-General of Guangdong Provincial Administration for Market Regulation, Li Junxiao, Deputy Director-General of the Reform Commission of Guangdong Provincial Committee of the Communist Party of China and Zhang Guanzi, Member of the Standing Committee of Dongguan Municipal Committee of the CPC and Deputy Mayor.  

Dongguan and Hong Kong deepening cooperation on commercial registration  

The "cooperation framework agreement" encompasses the following four aspects: First, establish a simplified information database of attesting documents; Second, advance sharing of electronic information of attesting documents; Third, explore offshore application of commercial registration for Hong Kong-invested enterprises in Dongguan; Fourth, facilitate  exchanges between Dongguan and Hong Kong in commercial registration.   

It is learned that for investors from Hong Kong who want to invest in the Chinese mainland, they have to prepare very complicated legal documents, which hinders application process and scrutiny of relevant departments. With the approval of Guangdong Provincial Administration for Market Regulation in 2018, Dongguan Municipal Administration for Market Regulation has been working actively with China Legal Service (H.K.) LTD. and the Association of China-Appointed Attesting Office  Limited. They had discussion about the simplification of legal documents required by Hong Kong investors to invest in Dongguan and developed a plan for  legal documents simplification. The plan was approved and filed by the Lawyers' Work Bureau of the Ministry of Justice on October 29, 2018. The simplified Hong Kong attesting documents were officially put into use in Dongguan and Hong Kong. 

Editor: 谭晶