In respect of application for establishment of branches by foreign-funded advertising enterprises in the Pilot Zone, the restrictions pertaining to fully paid-in registered capital of the enterprise and the minimum advertising business turnover of RMB20 million shall be cancelled.
Article 10 The filing system shall be implemented for examination and approval of projects and establishment of branches of foreign-funded advertising enterprises in the Pilot Zone. For establishment of new foreign-funded advertising enterprises within the Pilot Zone, and change of equity joint venture parties after establishment or equity transfer, change of scope of advertising business and change in registered capital, the applicant shall submit filing materials to the sub-bureau in the Pilot Zone when applying for establishment and completing change registration formalities; where a foreign-funded advertising enterprise in the Pilot Zone has established a branch outside the Pilot Zone, it shall submit filing materials to the sub-bureau in the Pilot Zone within seven working days from obtaining the business license for the branch.
Article 11 The registration authorities shall conduct pro-forma examination of materials submitted by applicants. Applicants shall be responsible for the veracity of the materials.
Article 12 An applicant may apply for enterprise registration, foreign investment enterprise examination and approval (filing), organization code certificate and tax registration through electronic data exchange or onsite submission based on the needs. The registration authorities shall receive application materials submitted by the applicants to various functional departments and deliver the relevant certificates, licenses and documents on a unified basis.
Article 13 Except for farmer cooperatives and individually-owned businesses, the registration authorities shall issue to enterprises in the Pilot Zone a unified business license, the "Enterprise Business License".
Enterprises which have obtained their business license prior to implementation of these Provisions may apply to the registration authorities for re-issuance of a new version of business license.
Article 14 Enterprises in the Pilot Zone shall implement an annual report announcement system. Enterprises shall submit their annual report to the registration authorities through the market entity credit information announcement system during 1 March to 30 June every year and announce their annual report to the public. Enterprises shall commence submission of annual reports from the year following registration of establishment. Enterprises shall be responsible for the veracity and legitimacy of the annual reports submitted by them.
Pursuant to the provisions of the Procedures for the Administration of China (Shanghai) Pilot Free Trade Zone, procedures for annual report announcement by enterprises in the Pilot Zone shall be formulated separately.