[Video provided to english.pudong.gov.cn/chinashftz]

Check out the video on the Provisions of Shanghai Municipality on the Withdrawal of Market Entities in Pudong New Area, effective since No 1, 2021. They are the first provisions in the area regarding the withdrawal of market entities.

The provisions aim to streamline the process for market entities looking to exit the area, emphasizing rule-of-law protections and efficient procedures. Notable changes include a shortened publicity period for simple registration cancellations, resulting in 4,600 enterprises being deregistered by June 2023.

Additionally, the provisions establish a commitment cancellation system and compulsory expulsion and cancellation system to address issues such as enterprises not in operation for an extended period or failing to complete liquidation.

The provisions are part of Pudong New Area's efforts to optimize the business environment and are a result of extensive experimentation. They not only address exit challenges for enterprises but also ensure the law-based compulsory cancellation of entities, supporting the efficient allocation of resources and guiding enterprise operations within the Pioneer Area.