The Dream Factory of China

Two foreign-invested enterprises received their business licenses in Shenzhen after the new foreign investment law went into effect Jan.1, according to the Shenzhen Municipal Market Supervision and Regulation Bureau.

Under the new law, a foreign investor can register directly at the market supervision and regulation department rather than having to register at the commerce department. Additionally, investors are required to submit information online as well as handing in hard copies of the application documents.

Lingzhan Logistics (Shenzhen) Co. Ltd. and Shenzhen Xiaoshenlong Sports Technology Co. Ltd. passed the official review and became the first batch of enterprises in the country to receive business licenses under the new law.

Both of the enterprises are based in Qianhai.

Lingzhan Logistics (Shenzhen) Co. Ltd. is a Hong Kong-invested enterprise with Linghang Logistics Co. Ltd. as its Hong Kong-based shareholder and a man surnamed Su as the Chinese mainland shareholder. The newly established company is mainly engaged in modern logistics, and sea, land and air transportation business.

Shenzhen Xiaoshenlong Sports Technology Co. Ltd. is a Macao-funded enterprise, which is co-invested by one Macao and three mainland shareholders. The company mainly offers physical education consultation, sports competition organization and sports technology research and development businesses.

By the end of 2019, 67,940 foreign-invested enterprises had been established in Shenzhen, with a total investment amount of US$421.6 billion, according to the Municipal Market Supervision and Regulation Bureau.

According to the Qianhai Cooperation Zone Authority, as of November 2019, the number of Hong Kong-funded enterprises in the Qianhai free trade area reached 11,982, accounting for about one-third of the total number of Hong Kong-funded enterprises in Shenzhen. Qianhai has witnessed close cooperation between Shenzhen and Hong Kong.