China’s consistent relaxation of state controls on foreign economic activity

The decision announced in December 2022 to eliminate the requirement for special registration for companies conducting foreign trade activities in China makes it easier for companies to enter and operate in the Chinese market. This decision is a continuation of the Chinese government’s policy of simplifying the system of interaction in the field of foreign trade, including the replacement of registration documents with a single certificate.

Previously, due to the lack of necessary registration, Russian companies found it difficult to conclude transactions and had to work through foreign trade companies affiliated with Chinese companies, which led to problems with fulfillment of obligations and inability to recover losses.

As of December 30, 2022, throughout China, companies engaged in foreign trade are no longer required to confirm registration for business activities. This greatly simplifies work in the Chinese market and promotes the development of foreign economic relations between Russia and China.

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