New Business Mode Approved by SAIC

l  “Group Innovation Space (GIS) ”

At the beginning of this year, a new concept as “Group Innovation Space” was suggested by Chinese Premier, Mr. Li Keqiang. However, in the past, the term as “group innovation space”, “hacker space”, “innovation incubator” cannot be used in the company name or business scope because it is not a approved term in the GB/T 4754-2011. As a result, the investor can only use “investment” or “consulting” as their business scope but actually it is not what they were doing. The new regulation was issued by SAIC these days that from now on the business scope can describe as “operation and management of group innovation space/hacker space/innovation incubator” as well as use “group innovation space”/ “hacker space”/“innovation incubator” in the company name.

As a further action to encourage the investment on “group innovation space”/ “hacker space”/“innovation incubator” companies, SAIC also agreed that “only if it does not disturb the local residents or bring no bad impact on the surrounded environment”, several companies can share the same registered address.

l  Equity Crowdfunding Platform

At the same time, to solve the difficulty on the financing for the investors at the beginning of their business, SAIC also started a new job for the registration of the company as “equity crowdfunding”.  The company can provide the crowdfunding service to the public (even for the internet funding) and the public will become the investor and gain profits in the future. It brings to SMEs a new way for financing and which is also approved by the local authority. Now the first one equity crowdfunding company has been set up in Huangpu district, Shanghai.

If you want to know more details, please contact our senior consultant.

Ms. Jojo Hu

TEL: 0086-21-68868335 ext 324 / FAX: 0086-21-68868021

Email: jojohu@shanghaiinvest.com