Transnational
Procurement Groups to Become Independent Exporters
The China Ministry of Commerce is to
introduce a detailed policy allowing transnational procurement
groups to establish foreign-funded procurement centers and to
operate independent export business. The only requirement of
such foreign companies will be that their registered capital
is no lower than 30 million RMB. Their operations will encompass
export, export related storage and commissioned processing business
for re-export. These firms will, in accordance with regulations
regarding foreign-invested companies exporting domestic goods,
be eligible for export refund.
