The 14th National People’s Congress (NPC, China’s national legislature) concluded its first session yesterday in Beijing after nearly nine days of gathering. You can find key takeaways in the hot topic, including economic policy and government restructuring in this edition.
For those looking to set up a legal entity in China, we also look at what is the role of a Legal Representative in detail. Finally we are calling for UK tech / IP owners who are interested in protecting and commercialising their intellectual property in the Far East.
HOT TOPIC – 14th China’s National People Congress
What should you know about the key policy announcements made at the National People’s Congress being held in Beijing? Main Economic Policy highlights:
– A modest target set for economic growth this year of “around 5%”
– China’s science and technology policies…Read More
A Guide to China’s 2023 State Council Restructuring
The NPC approved the State Council Institutional Reform Plan on March 10 and has released its full text (in Chinese). The Plan is not as extensive as the previous round of State Council restructuring in 2018, but there is an important caveat. The Plan would alter the functions of about a dozen government agencies and create two new ones. More on NPC 2023, State Council reorganization.
EXPERT INSIGHTS
Appointing a legal representative for your China entity: procedures and requirements
Every company in China, whether local or foreign-invested, is required to have a fully-functional management board led by the Legal Representative (LR).
LR will essentially have the full responsibilities to the company, cash, and capital with full civil, administrative and criminal liabilities. The role equals to a CEO in the West that have great power to excerise on behalf of the company.
To help you plan ahead your China business and appoint the management board, this article introduces:
- Who can be your new legal representative
- What are the potential liabilities to watch out for
- How to mitigate risk when appointing a new legal representative
- Tips on practical issues when changing your legal representative
（This article has been provided courtesy of CW CPA, one of our long term service delivery partners in Greater China）
BUSINESS OPPORTUNITIES: IP Protection and Tech Transfer
We are looking for UK tech / IP owners who are looking to protect and commercialise their intellectual properties. We can offer various funding support and routes to the Chinese market. These are the industries and sub sectors that we are interested in:
New generation information technology (information transmission, software and information technology services), high-end equipment, new materials, new energy, semiconductors, energy conservation and environmental protection, biomedicine (biotechnology and life sciences), and Internet plus (Internet services, industrial Internet of Things, cloud computing, big data) Professional technical service industry (virtual reality, agricultural technology, 3d technology, unmanned technology, robot technology, scientific research and technical service industry)
If you are interested in this please get in touch by emailing hello@test.crayfish.io.