SAIC called off Enterprise Annual Inspection---Denise Xia

State Administration for Industry and Commerce (SAIC) called off the annual inspection of LLC, share limited company, joint stock limited partnership, partnership, and etc. from 1 March 2014.

At the meanwhile, Annual report will be replaced.

Credit information publicity platform was established last year to fulfill the report online.  Thus, the enterprise could report to the registered bureau through the platform annually within the deadline at any time. But the enterprise shall be liability to the investor’s information, asset liability and registration which is included in the annual report.

The government believes that annual report will bring more convenient to the enterprises. The enterprise could finish the report by internet instead of handing the papers to the government offices.