Accelerating enterprises to go global and implementing overseas investment and transnational operations are important strategies for responding to global competition. However, industry insiders point out that it is necessary to improve the laws and regulations for going global, ensure international operations and competition, and successfully achieve new breakthroughs in the external economy.
A chemical company was restricted by various foreign barriers, and its export operations were blocked. It intended to go abroad for direct overseas investment and manufacture on-site and on-site. However, in the early investigation process, the company found that many domestic legal protection issues have not kept pace. For example, the approval of overseas investment by enterprises involves many aspects such as planning, economy, foreign trade and economic cooperation, public security, and foreign exchange management, with centralized authority and complicated procedures. Overseas investment still has specific issues such as labor and employment, double taxation, investment ratios, and corporate registered capital and bank loan restrictions. Since there is no specific legal operation in these areas, the work process has slowed down and the pace of going abroad has been delayed.
In recent years, China's foreign investment has been growing at a rapid rate. However, there are still relatively few Chinese enterprises investing abroad, and the pace of development is not fast. As the globalization process accelerates, the need for our companies to go global will become more and more urgent. However, the laws and regulations of China’s current overseas investments and transnational operations are still inadequate and perfect. Many laws and regulations lag behind actual needs. In respect of foreign investment in industries and projects, a considerable part of the restrictions formulated in the past have been inconsistent with the reality. Some specific regulations for offshore investment were also formulated by various departments in the past. Not only do they have problems in connection with each other, but some even contradict each other. All these have objectively influenced and restricted the process of speeding up the process of going abroad.
To implement the strategy of going global for enterprises, legal protection is fundamental. Developed countries and emerging industrial countries have paid great attention to the development of transnational economies and have first formulated laws to promote and protect enterprises from going global. In the United States, the United States Overseas Investment Act and the Comprehensive Investment Act were introduced earlier. In recent years, the South Korean government has made overseas investments and transnational operations an important national policy, and developed the Overseas Investment Promotion Act, etc. The company’s legal status in the industrial sector, overseas investment companies, encouragement and restrictions, financial services, and intermediary services have all provided legal principles to ensure that enterprises can easily go out.
We should learn from these successful practices and improve the laws and regulations for going global as soon as possible. The basic attitude of overseas investment and transnational operations shall be clearly defined in the form of law, the examination and approval procedures and procedures shall be simplified, and the main status, investment forms and management methods of overseas investment enterprises shall be established, and the overseas investment organization system and investment dispute resolution mechanism shall be established. The relevant government should upgrade its current success policy to law and thoroughly clean out obsolete policies and regulations. In order to fully protect the law and promote enterprises to go out faster and promote the rapid development of the external economy.
A chemical company was restricted by various foreign barriers, and its export operations were blocked. It intended to go abroad for direct overseas investment and manufacture on-site and on-site. However, in the early investigation process, the company found that many domestic legal protection issues have not kept pace. For example, the approval of overseas investment by enterprises involves many aspects such as planning, economy, foreign trade and economic cooperation, public security, and foreign exchange management, with centralized authority and complicated procedures. Overseas investment still has specific issues such as labor and employment, double taxation, investment ratios, and corporate registered capital and bank loan restrictions. Since there is no specific legal operation in these areas, the work process has slowed down and the pace of going abroad has been delayed.
In recent years, China's foreign investment has been growing at a rapid rate. However, there are still relatively few Chinese enterprises investing abroad, and the pace of development is not fast. As the globalization process accelerates, the need for our companies to go global will become more and more urgent. However, the laws and regulations of China’s current overseas investments and transnational operations are still inadequate and perfect. Many laws and regulations lag behind actual needs. In respect of foreign investment in industries and projects, a considerable part of the restrictions formulated in the past have been inconsistent with the reality. Some specific regulations for offshore investment were also formulated by various departments in the past. Not only do they have problems in connection with each other, but some even contradict each other. All these have objectively influenced and restricted the process of speeding up the process of going abroad.
To implement the strategy of going global for enterprises, legal protection is fundamental. Developed countries and emerging industrial countries have paid great attention to the development of transnational economies and have first formulated laws to promote and protect enterprises from going global. In the United States, the United States Overseas Investment Act and the Comprehensive Investment Act were introduced earlier. In recent years, the South Korean government has made overseas investments and transnational operations an important national policy, and developed the Overseas Investment Promotion Act, etc. The company’s legal status in the industrial sector, overseas investment companies, encouragement and restrictions, financial services, and intermediary services have all provided legal principles to ensure that enterprises can easily go out.
We should learn from these successful practices and improve the laws and regulations for going global as soon as possible. The basic attitude of overseas investment and transnational operations shall be clearly defined in the form of law, the examination and approval procedures and procedures shall be simplified, and the main status, investment forms and management methods of overseas investment enterprises shall be established, and the overseas investment organization system and investment dispute resolution mechanism shall be established. The relevant government should upgrade its current success policy to law and thoroughly clean out obsolete policies and regulations. In order to fully protect the law and promote enterprises to go out faster and promote the rapid development of the external economy.
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Ningbo Cijie Chemical Equipment Co., Ltd. , https://www.zjchemicaltower.com