Yuexiu district in Guangzhou granted its first business license for foreign-invested enterprises (FIE) on Sept 19, after the State Administration for Market Regulation recently delegated business registration power for FIEs to the district. 

The license went to Guangzhou Sabri Trade Co Ltd, marking the beginning of FIE registration in Yuexiu. 

There are currently 7,213 foreign-funded enterprises in Yuexiu district, ranking second among all Guangzhou districts. With the FIE registration authority, the district is expected to see further growth of foreign-funded enterprises in the future.

As long as the materials are complete and in compliance with the legal form, the registration process can be done in two hours and the business license can be obtained on the spot, according to Qiu Yu, an official from the Yuexiu administration for market regulation.

He mentioned that in the past, FIE registration required the approval of the provincial and municipal bureaus first, and then it could be done at the district level. Now, however, all of the steps can be done in Yuexiu. 

Sabri Abdelazim, who received the business license, said that it is his first company in Guangzhou which is engaged in electronic products trade. The receiving of the business license went very smoothly, he said, which he considers to be a good start for his business in China. 

To better serve investors, Yuexiu has set up a special registration department for FIEs in the district's administration for market regulation and opened a special window for foreign investment services. In addition, it has selected a group of backbone officials familiar with foreign languages, as well as international economic and trade policies, to provide dedicated guidance and full-time assistance and offer customized "service packages" for foreign investors.

Sabri Abdelazim (R), poses with his foreign-invested enterprises (FIE) business license. [Photo/ycwb.com]