ANNOUNCED AS TEMPORARYNo
FDI: Entry and ownership rule
On March 25th 2011, an announcement from the PRC Ministry of Finance (MOFCOM), General Administration of Press and Publications (GAPP) revealed increased licensing requirements for foreign firms wishing to buy a stake in a Chinese press/publication company.
Previously, such investors had to obtain a licence from the GAPP to invest, and were barred from holding a controlling stake in a firm with 30 or more publication retail/distribution outlets. With this announcement, the investor must file an application with the relevant branch of the MOFCOM to approve the investment, and within 90 days of receiving this, must then go back to the original GAPP office to complete the licensing procedure.
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