1. Introduction On 12th December 1982, the State Administration for Industry and Commerce (SAIC) of the People’s Republic of China published the “Corporation Management Regulation” which states that from 1983 onwards, SAIC would implement company annual inspection procedures over the whole country. Annual inspection is particularly useful in improving the national control over company’s registration. SAIC makes the carry-out of annual inspection compulsory for all companies in order to ensure their existence and normal operations. 2. Companies subject to Annual Inspection The companies which receive the business license, including limited liability companies, non-company business legal persons, partnership enterprises, individual sole-source investment enterprises and branch offices, foreign enterprises, as well as other management units. Accordingly, the Wholly Foreign Owned Enterprises invested and set up by foreign corporations and individuals are also subject to the requirements of Annual Inspection Procedures. Newly set-up companies are also required to participate in annual inspection. Certain […]