china

Company Filing Requirements in China

Legal requirement to file annual accounts

All Chinese companies are required to file audited financial statements to different levels of Administration for Industry & Commerce (AIC is the official body of issuing and renewing business license) on an annual basis. But usually different AICs have different special regulations. For example, Tianjin Free Trade Zone AIC does not permit to disclose the financials.

The Ministry of Finance publishes some important guidelines in the "Accounting Standards for business Enterprises "

It is usually possible to get the recent financials for most Chinese companies, most from AIC and some from the companies directly by interviewing - because the financials in AIC database are very old (now, only 2007 financials are available in most AICs.)

More than 95% UK Data reports (For Chinese mainland) include financials.

Chinese company registration and licensing procedures

For the establishment of the company status, no specific procedure is required. Capital and status must be registered with the Provincial Department of Trade and Industry. Company by-laws and registration should be registered with the Trade Register.

Types of companies registered in China

Form	Number of partners/ shareholders	Minimum and/or maximum capital	Liability	Release of financial documents
Youxian zeren gougsi is a Private Limited Company.	Minimum 2 Maximum 50	Capital varies from RMB 300,000 to 500,000 depending on the activity of the company	Liability is limited to the amount contributed	No
Gufen youxian gougsi is a joint-stock company.	Minimum 5	RMB 10 million	Liability is limited to the number of shares held	Yes

Chinese Company Credit Report Content

In Mainland China, Company records are not kept centrally, but are stored by the local government in each city. In most cities, the information isn’t available online, or even stored electronically. Our agents have to go in to local offices, view the records, and copy the details with a pen, photocopying isn’t usually allowed. The information we get is generally for the most-recently ended calendar year, and includes the following:

Registered company name
Registered address
Business address (if different)
Date of establishment
Registered capital
Names of all shareholders (for companies not listed on a stock exchange)
Legal Representative
Names of at least one senior manager (usually at least two)
Registered business scope (companies in China are only allowed to operate within their registered business scope)
Basic details of core operations
Any changes to the above information since the company’s establishment
If the company has been operating for more than a full calendar year, we also provide financial information, including a balance sheet and profit and loss account. This information is as filed with the State Administration of Taxation, and comes with the caveat that the company may have all sorts of reasons for making false declarations.