To facilitate the submission of annual reports to the local commerce authority for foreign enterprises in Shanghai, we've compiled the following questions and answers to guide them through the entire process.

What are the annual reports for foreign investments?

In compliance with the provisions outlined in the Foreign Investment Law of the People's Republic of China and the Measures for Reporting Foreign Investment Information, foreign enterprises are required to submit an annual report for the preceding year through the National Enterprise Credit Information Publicity System. The submission should be completed no later than June 30.

For foreign enterprises established in the current year, they are obligated to start submitting annual reports from the subsequent year.

The annual report should include basic information on foreign investment, details about investors, operational conditions, credit and debt status, tax reductions and waivers on imported equipment as well as assets and liabilities.

Additionally, foreign-invested enterprises register their investment stocks simultaneously with the submission of the annual report.

Which enterprises are required to submit the 2023 annual reports for foreign investment?

1. Foreign enterprises legally established and registered in Shanghai on or before Dec 31, 2023.

2. Overseas enterprises engaged in production and business activities in Shanghai, those with branches established in Shanghai for production and business activities, and enterprises in Shanghai established by foreign investment companies, foreign venture capital enterprises, and foreign-invested partnership enterprises primarily involved in investment, among others, are also obligated to comply with the stipulated requirements for foreign enterprises when submitting their annual reports.

How can enterprises submit their annual reports for foreign investment?

Submit the annual report by logging into the National Enterprise Credit Information Publicity System (Shanghai) at sh.gsxt.gov.cn. Seven days after completing the submission, foreign-invested enterprises (institutions) can log onto the Foreign Investment Information Report System's publicity platform at wzxxbg.mofcom.gov.cn/gspt to check if the Ministry of Commerce has received their annual reports. If their annual reports are not made public on the platform, they should report to the local commerce authority.

How can enterprises correct errors and omissions in their foreign investment annual reports?

Between Jan 1 and June 30, if errors or omissions are identified in the annual report, companies can log into the National Enterprise Credit Information Publicity System (Shanghai) at sh.gsxt.gov.cn to modify the submitted information at any time. From July 1 onwards, corrections can be made through the Ministry of Commerce's Foreign Investment Information Reporting (Annual Report) application at wzxxbgnb.mofcom.gov.cn.

Source: sww.sh.gov.cn