Shenzhen Implements Rules on Optimising Business Environment Next January

New rules passed by the Standing Committee of the Sixth Shenzhen Municipal People’s Congress, Regulations of Shenzhen Special Economic Zone on Optimising Business Environment, will come into force on 1 January 2021. The main points of the regulations are as follows:

Easing of market access

• All market entities not on the foreign investment ‘negative list’ will have equal access according to law.

Facilitating establishment and operation of market entities

• Reforms to the commercial registration system will be deepened and online service resources fully utilised.

Optimising exit mechanisms for market entities

• A personal bankruptcy law will be implemented.

Introducing more innovative financing models

• Financial market connectivity and mutual recognition of financial products with Hong Kong and Macao will be promoted. Explorations will also be made towards introducing more innovation in cross-border financial services.

Source: Standing Committee of Shenzhen Municipal People’s Congress