 |
WFOE
(Wholly Foreign Owned Enterprise ) |
 |
Essentially the Approval Process of a Wholly Foreign-Owned Enterprise depends on whether the particular enterprise is deemed to benefit the development of China's national economy and its interests.
The Chinese government prefers enterprises, which employ advanced technology and equipment to manufacture products that are important to the national economy and have not been or are not produced in China.
Enterprises, which export a large portion of their products, also are more likely to be approved.
Ministry of Commerce is responsible for approval of wholly foreign-owned enterprises, although other national and local authorities typically participate in the pre-approval process and screening procedures required to be undertaken before the application documents are forwarded to Ministry of Commerce for approval.
Because the foreign investor is the sole operator of a wholly foreign-owned enterprise, the foreign investor is responsible for guiding its application through different Chinese authorities.
聽
