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China to Open Job Intermediary Market
Beginning from December1, foreign investors will be allowed in China's job intermediary market by setting up joint ventures or co-operative enterprises, but not solely foreign-funded enterprises. Representative offices of foreign enterprises in China and foreign commerce chambers set up in China are not permitted to conduct job intermediary businesses.
A temporary provision on administration of setting up foreign-Chinese funded job intermediary agencies has been published lately by the Ministry of Labor and Social Security and the State Administration for Industry and Commerce.
According to the provision, foreign-Chinese funded job intermediary agencies will provide job brokerage service to Chinese and foreign job seekers for units to employ. They will also offer job guide and consultancy and at the same time collect and publish information of labor market. Approved by labor security departments of provincial level of those at the prefectural level authorized by it they may hold job talks for employment.
For applying to set up joint ventures or co-operative enterprises on job brokerage, foreign investor should be artificial person engaged in job intermediary service who holds good credit and experience in job brokerage in the country he has registered. Chinese investor should be a legal persona for job introduction and have good credit. The enterprise applied for being set up should claim a registration capital of no less than US$300,000 and more than 3 staff members who are professionally qualified. There should be clear and definite business scope, enterprise regulations, management system, fixed office location and facilities, and main business-runners must have experience in this trade.
Applications must be approved by departments of labor security and foreign trade of provincial governments, and register at local administration for industry and commerce authorized by the State Administration for Industry and Commerce.
By PD Online Staff Li Heng
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