Business of the Foreign-funded International Freight Forwarding Agent Enterprises
Since December 11, 2005, foreign-funded international freight forwarding agent enterprises can be established by foreign investors in the form of Chinese-foreign equity joint venture, Chinese-foreign contractual joint venture or wholly foreign-funded, can deal with international freight forwarding and relevant businesses for their consignors in their consignors' name or their own name upon commission of the consignees or consignors of the imported goods, and can collect remunerations for the services it provides.The minimum registered capital for setting up a foreign-funded international freight forwarding enterprise shall be 1 million US dollars, and may deal with part or all of the following businesses upon approval:
(1) booking (ship leasing, air chartering and cabin chartering), consigning, storing and packaging;
(2) supervision of loading and unloading of goods, consolidating and devanning, distribution, transferring and relevant short-distance transport services;
(3) acting as an agent to make customs declarations, check and inspection, and to purchase insurance;
(4) preparing the relevant documents, paying for the freight, settling and paying the miscellaneous expenses;
(5) freight forwarding of international exhibits, personal articles and goods in transit;
(6) international multimode transportation and consolidation (including container shipping);
(7) international express (excluding delivery of personal letters and official documents of any political party, the political and military bodies at and above the county level);
"personal letter" means the bill of document, certificate, valuable security, book draft, printed matter...etc. of each kind of file and not- personal attribute outside of letter.
(8) consultation and other international freight forwarding businesses.
Foreign-funded international freight forwarding agent enterprises undertaking international express delivery of letters or articles with the nature of letters (excluding delivery of personal letters and official documents of any political party, the political and military bodies at and above the county level) shall, upon approval of the commercial administrative department, go through the post authorization formalities with the post department.
Provided Foreign-funded international freight forwarding enterprise has started business operations for one year or more and its registered capital has been paid, it may apply for setting up branches in other places in the China. The business scope of a branch shall fall within that of the parent company. The civil liabilities of the branch shall be borne by the parent company. The registered capital of a foreign-funded international freight forwarding enterprise shall be subject to an increase of RMB 500,000 Yuan for each branch undertaking international freight forwarding businesses it sets up. If its registered capital has exceeded the minimum one, the exceeding part may be used as money for increasing the registered capital of the company.
The minimum registered capital of a qualified service provider from Hong Kong or Macao that invests in the Mainland to establish an international freight forwarding enterprise shall meet the following requirements:
(1) If he/it runs maritime international freight forwarding businesses, the minimum registered capital shall be 5 million Yuan;
(2) If he/it runs aerial international freight forwarding businesses, the minimum registered capital shall be 3 million Yuan; and
(3) If he/it runs overland international freight forwarding businesses, the minimum registered capital shall be 2 million Yuan.If he/it runs two or more items of businesses in the preceding paragraphs, the minimum registered capital shall be the minimum amount of the higher/highest one.
After investors establishing an international freight forwarding enterprise in China has paid all the registered capital, it may apply for setting up branches in other places in the China. Its registered capital shall be subject to an increase of RMB 500,000 Yuan for each branch it sets up. If its registered capital has exceeded the minimum one, the exceeding part may be used as money for increasing the registered capital for setting up branches.
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