Tianjin Bureau of Industry and Commerce Launches Policies to Support the Industrial Development and Relax the Registration Restriction of Emerging Industries

  Bohai Morning Post (by Hu Jiayi, Wang Yipeng and Chen Kejian) - Yesterday, Tianjin Bureau of Industry and Commerce has launched the "Advice on the Support of Emerging Industries in Industrial and Commercial Registration" (hereinafter referred to as the "Advice")

  The "Advice" have stipulated the basic rules of market-access of the emerging industries:the emerging industries and projects specified by laws, regulations, decisions of the State Council and other relevant documents, active support shall be provided; the industries and businesses that are up to the economic development rules,urgently needed by the investor, and are not explicitly forbidden by laws and administrative regulations are allowed to be experimented, and should be registered.For the industries or businesses that are not included in "National Economic Industries", names and business scope can be flexibly decided to reflect the characteristics of the industry.

  The "Advice" has also designed several service measures to support the emerging industries, which include the following:

  To relax the registration conditions of names. Enterprises are supported to have names reflecting the characteristics of the emerging industries, like "Equity Investment", "International Factoring" and "New Energy and Technology", and so on. The enterprises in emerging industries are allowed to use "XX Research Institute", "XX Research Institution"etc. as a part of their names. The organization forms of "institute" and "institution" are to be followed by "Co., Ltd." or "Corporation",to show the organization form of companies.

  To relax the business scope.If the business scope of an emerging industry does not include the permitted businesses, it can be examined and approved according to the application of the enterprise and the corresponding category in the national economic industries.

  To relax the restriction of residence (business location).It is allowed to make use of all kinds of economic function areas, business buildings and idle space for "concentrated office area", and to establish high and new technology enterprises, innovative financing enterprises, and so on.

  To relax the payment of registered capital.Domestic limited liabilitCompanies (one-man companies not included) to postpone the payment of registered capital. The first part of registered capital can be paid within three months after the registration, while the rest should be fulfilled within the time limit.

  To relax the investment contribution. People are encouraged to have the independent property rights appraised and invested. All private capital will be actively guided to be invested in the emerging industries by ways of equity contribution, etc. For the investment to the emerging industries, the technologies not requiring title registration are supported to be invested as the initial investment contribution to the emerging industries.The applicants are encouraged to make investment contribution to companies with company shares and creditor's rights, etc.

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