What is annual inspection of enterprises?
Annual inspection of enterprises is a statutory system in which industry and commerce administrations inspect enterprises on a yearly basis to verify whether the enterprises are qualified to continue operation.
Annual inspection is required for all limited liability companies, joint-stock limited companies, non-company entities and other business units granted the Business Licence of the PRC for an Enterprise as a Legal Person, Business Licence of the PRC, Business Licence for an Enterprise as a Legal Person, or Business Licence. Enterprises newly established shall attend the annual inspection from the year following the year of establishment.