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Notice of the Ministry of Industry and Information Technology on Removing the Restrictions on Foreign Equity Ratios in Online Data Processing and Transaction Processing Business (Operating E-commerce)
Promulgation Date:2015-06-19  Promulgation Number:G.X.B.T. [2015] No. 196  Promulgation Department:Ministry of Industry and Information Technology

Notice of the Ministry of Industry and Information Technology on Removing the Restrictions on Foreign Equity Ratios in Online Data Processing and Transaction Processing Business (Operating E-commerce)

G.X.B.T. [2015] No. 196

         

To implement the guidelines of the Third Plenary Session of the 18th CPC Central Committee, support e-commerce development in China, encourage and guide active participation of foreign capital and further stimulate market competition vitality, the ministry decides to remove the restrictions on foreign equity ratios in online data processing and transaction processing business (operating e-commerce) nationwide based on the pilot work at China (Shanghai) Pilot Free Trade Zone, and to allow foreign equity ratio up to 100%.

Foreign investment enterprises shall operate in accordance with law and regulation and shall follow requirements of this notice for foreign equity ratios in applying for a permission on online data processing and transaction processing business (operating e-commerce), while other permission conditions and corresponding approval proceedings shall be carried out according to Provisions on the Administration of Foreign-funded Telecommunications Enterprises (Decree No. 534 of the State Council).

Communications authorities of each province, autonomous region and municipality directly under the central government shall strengthen the guidance and supervision of foreign-funded enterprises, enhance supervision during and after the event, earnestly safeguard legal rights and interests of users, create a development environment of fair competition and promote steady and healthy development of e-commerce so as to make it a platform of mass entrepreneurship and innovation.

This notice shall come into force on the date of its promulgation.

Ministry of Industry and Information Technology

June 19, 2015

       

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