What are the activities of Foreign Invested Commercial Enterprise (FICE) in China?

As part of its World Trade Organization accession process, China ratified regulations that permit foreign companies to establish fully operational wholly foreign-owned enterprises that can distribute, act as an agent, retail and wholesale domestically, source domestically, and import and export, and as of 2005, do so all over China. These companies, known as foreign-invested commercial enterprises, also enjoy the 100 percent foreign ownership by which WFOEs are defined. The trading company can be set on behalf of a Natural Person or an Oversea Legal Entity.FICEs are capable of doing import, export, distribution and retailing, wholesaling, franchising etc.