The Liaoning Provincial People’s Government recently announced a set of opinions formulated by the Liaoning Provincial Department of Industry and Commerce Administration on bringing into full play the role and functions and industry and commerce administration departments in promoting the development of Liaoning’s coastal economic belt. The document entails major changes in the market access system and the service mechanism as follows:

Easing of registration requirements for the domicile and place of business of enterprises in Liaoning’s coastal economic belt. If an enterprise cannot submit the required documents on domicile or place of business, it may still proceed with the registration procedures if the address is clear and if it has secured the written consent of the management of the industrial concentration areas and the local investment promotion departments. 

Easing of capital requirements for enterprise registration. If an enterprise cannot pay up its registered capital within two years as required, the payment period may be extended for one year with the written consent of the management of the industrial concentration areas or the local investment promotion departments.

Easing of requirements for enterprise name registration. Enterprises in five key development zones, namely Dalian Changxing Island Harbour Industrial Zone, Yingkou Coastal Industrial Base, Western Liaoning Jinzhou Bay Economic Zone, Dandong Industrial Park and Dalian Huayuankou Industrial Park, are allowed to use the word “Liaoning” in their name. Approval shall be granted by the local registration authorities and it is no longer necessary to seek the approval of the provincial industry and commerce administration department. In other words, restrictions on the scale of enterprises bearing the name of the province shall be lifted.

Easing of registration examination for the reorganisation and restructuring of state-owned enterprises and the establishment of a flexible system for processing such requests. Newly-established wholly state-owned companies and state-owned holding companies that meet the principal requirements of the Company Law may register their incorporation after obtaining the signed comments of the state-owned assets supervision and management department. Other documents may be submitted within 90 days of incorporation.