Shanghai FTZ Eases Licensing Rules For Manufacturers
by Lorys Charalambous, Lowtax.net, Cyprus
24 February, 2017
China's Shanghai Pilot Free Trade Zone will amalgamate all manufacturing licenses into a single license covering all goods produced by a manufacturer.
This means that manufacturing companies will now be issued with one license by the Shanghai Pilot Free Trade Zone, instead of several from different departments. Until now, companies were required to apply for a new license when it began to manufacture a new product.
The licensing changes mean Zone authorities can now review a company's production sites and all products at one time and provide the all-in-one license. They can also decide whether to exempt a company from the license renewal examination based on the company's records.
The changes to the licensing process were authorized by China's General Administration of Quality Supervision, Inspection, and Quarantine, the state body in charge of customs inspection and quarantine.
The Shanghai Pilot Free Trade Zone was created in 2013 and offers companies a number of tax preferences. It comprises a bonded area, high-tech park, financial area, and an export processing zone.
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