Examination and Approval for Foreign Investment in Telecommunications Business Cancelled by MIIT
ISSUING AUTHORITY:
Ministry of Industry and Information Technology
DATE OF ISSUANCE:
June 29, 2021
EFFECTIVE DATE:
July 1, 2021
Recently, the Ministry of Industry and Information Technology of the PRC (MIIT) issued a Notice on Deepening the Reform of the Separation of Operating Permits and Business Licenses (the “Notice”). According to the Notice, from July 1, 2021 on, the reform would be deepened with regard to 18 items involving operating permits and business licenses in the fields of industry and informatization. Reform measures include direct cancellation of examination and approval, the implementation of an informing and pledging system, and streamlining services of the examination and approval.
Among them, the requirements of examination and approval for foreign investment in basic telecommunications businesses and the value-added telecom businesses of category 1 and 2 would be cancelled on a national scale, the opinions on examination and approval for foreign investment in telecommunications business will no longer be issued, and the corresponding foreign investment examination will be included in the examination and approval for the operating permits for telecommunications business. Correspondingly, the foreign-invested entities would need not to handle the formalities relating to the administrative license, nor to submit corresponding administrative license documents prior to carrying out telecommunication business operations.
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