Source: Yiwu sourcing agent Author: Date: 2010-08-23
On August 10, an Egyptian got his business license from the window for industry and commerce of the 365 Service Center in Yiwu after going through all the procedures.
This partnership enterprise jointly-funded by Chinese and Egyptian has a registered capital of 30 thousand yuan which is mainly engaged in export commidities wholesale. Up till now there have been 5 registered foreign-funded partnership enterprises in Yiwu with a registered capital of 2.63 million yuan in total. Since the official implememtation of the Aderministrative Regulation on Foreign-funded Partnership Enterprise in China and the Aderministrative Regulation on Foreign-funded Partnership Enterprises Registration on March, Yiwu has become one of the cities that have most foreign-funded partnership enterprises in China.
According to persons in charge of the department of industry and commerce, the first foreign-funded partnership enterprise was set up in Yiwu after the implementation of relevant regulations. It is learned that there are currently 2,800 foreign agencies and over 10 thousand foreign businessmen in Yiwu. Though they had a strong desire for doing business, their business actions were limited by rules and regulations. This new type of business entity, the low threshold and few preconditions satisfy the needs for foreign investment in Yiwu.
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