In order to effectively undertake macro supervision and operational analysis of overseas investment and cooperation businesses and to strengthen risk assessment, early warning and response, commencing on 1 June 2013 the General Office of the Ministry of Commerce will begin to use the information management system for overseas staff of outward investment and cooperation enterprises. Outward investment and cooperation enterprises - including enterprises engaging in overseas investment, enterprises engaging in overseas engineering contracting, foreign labor service cooperation enterprises and foreign labor service cooperation platforms - are required to provide, in real time, information about overseas staff and file the contracts with and the lists of overseas staff, for recording purposes, through the sub-site of the Ministry of Commerce’s website “Outward Investment and Economic Cooperation” at (http://fec.mofcom.gov.cn).
The accuracy and update of the information provided serve as the basis for the commerce departments to formulate policies, to improve the business regulatory system and to accurately analyze business development trends. At the same time, this will have a positive impact on enterprise promotion of healthy and steady development of its “going abroad” business and on its access to the government’s financial support. (Click here to view MOFCOM General Office’s Notice on the Launch of an Information Management System for Overseas Staff of Outward Investment & Cooperation Enterprises.)