[b] How to set up a wholly foreign-owned enterprise[/b]
Step 1: Submit a feasibility study report to the foreign investment administration authority of appropriate level. The report must include: the objective and scope of the business, the scale of operation, the products, the technology and equipment employed, the requirement for the land area, public facilities and utilities (water, electricity and gas).
Step 2: Submit a formal application with the articles of association of the proposed wholly foreign-owned enterprise to the foreign investment administration authority of appropriate level.
Step 3: Apply for an approval certificate at the foreign investment administration authority of appropriate level.
Step 4: Apply for a business license with the provincial or municipal administration for industry and commerce within 30 days.
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