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New registration policy, a shot in the arm for businesses
By Staff Reporters |
August 29, 2011, Monday
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Print Edition
Print Edition
MORE than 10 enterprises in Jiading have benefited from new business policies that streamline company registration and investment during the first half of this year.
"The increasing capital injection options under the new policies benefit companies that want to expand their businesses," said Zhang Jiong, director of the Jiading Commerce and Industry Bureau's enterprise registration department.
Shanghai Hugong Valve Manufacturing Co Ltd wanted to establish a group parent company, but was required to increase its registered capital from 10 million yuan (US$1.56 million) to 50 million yuan. The new policies allowed the company to use its net asset value of 98.5 million yuan as registered capital, allowing the company to join in large engineering projects after the group structure is set up in August.
Woyo.com made a debt-for-equity swap to increase its registered capital from 40 million yuan to 100 million yuan and has successfully attracted US$100 million through a new financing activity.
"The increasing capital injection options under the new policies benefit companies that want to expand their businesses," said Zhang Jiong, director of the Jiading Commerce and Industry Bureau's enterprise registration department.
Shanghai Hugong Valve Manufacturing Co Ltd wanted to establish a group parent company, but was required to increase its registered capital from 10 million yuan (US$1.56 million) to 50 million yuan. The new policies allowed the company to use its net asset value of 98.5 million yuan as registered capital, allowing the company to join in large engineering projects after the group structure is set up in August.
Woyo.com made a debt-for-equity swap to increase its registered capital from 40 million yuan to 100 million yuan and has successfully attracted US$100 million through a new financing activity.
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