(I) Contribution registration system of registered capital
The contribution registration system of registered capital holds the following meanings:
1. The total contributions of the company's shareholders and total subscriptions (i.e. registered capital of the company) of the initiator shall be registered with the industrial and commercial administration. The company's shareholders (initiator) shall make agreements on the amount, method and period of contributions, which shall be specified in articles of association. The shareholders of the limited liability company shall bear liabilities for the company as per their capital contributions to the company; while those of the joint-stock company shall bear the liabilities for the company as per their subscriptions from the company. The company shall disclose the amount invested by shareholders or shares subscribed by the initiator, method of contribution, period of contribution and relevant payment through the credit disclosing system for market entities. The shareholders (initiator) shall be liable for the authenticity and legitimacy of the contributions.
2. Save as otherwise specified by laws, administrative regulations and decisions of the State Council on the minimum limit of registered capital for special industries, no restrictions will be set on the proportion of first contributions of all the shareholders (initiator), the proportion of monetary contributions in the registered capital of all the shareholders (initiator) and the period of full contributions for the shareholders (initiator).
3. The paid-up capital of the company is no longer registered with industrial and commercial administration. In registration, the company is unnecessary to submit the capital verification report. However, it is still necessary for the establishment of joint-stock company by means of fund-raising.
4. Decisions will be made separately on the contribution registration system of registered capital for banking institution, securities firms, futures companies, fund management companies, insurance companies, insurance agencies and brokers, direct-sales enterprises, exterior labor cooperation enterprises, financing guarantee companies, joint-stock companies incorporated by stock floatation, labor dispatch enterprises, pawn shops, insurance asset management companies and small-amount loan companies that are required to apply contribution registration system of registered capital by prevailing laws, regulations and decisions of the State Council. Before any modification of laws, administrative regulations and decision of the State Council, the prevailing provisions shall prevail.
5. The foreign-funded partnership enterprises that have applied for (subscription) contribution registration shall be subject to the prevailing provisions.
(II) "Acceptance at one window" for industrial and commercial filing and registration of foreign-invested enterprises
As from April 19, 2017, Beijing officially started the reform on "acceptance at one window" for industrial and commercial filing and registration of foreign-invested enterprises. The "acceptance at one window" for industrial and commercial filing and registration of foreign-invested enterprises means that the business department and industrial & commercial administration collect and organize the information and materials required for industrial and commercial filing and registration of foreign-invested enterprises that are not involved in special administrative measures of access during their establishment and change and form an "electronic form"; foreign-invested enterprises only need to fill in the form at the online platform of the industrial and commercial administration to complete the filing and registration, which "improve the data efficiency and simplify the operation complexity".
(III) Reform on "certificate after license"
According to the overall plan of the State Council, over 150 items in industries like foods& drugs, health care, transportation, news media and cultural education have been changed to examination after industrial and commercial registration, and only 32 items concerning the national security and civil life and property safety are still applicable to the examination before industrial and commercial registration.