| MOFCOM Releases Administrative Measures for Recording Commercial Franchises and for Information Disclosure of Commercial Franchises |
| Wednesday,May 09,2007 Posted: 08:26 BJT(0026 GMT) MOFCOM |
The State Council released Decree No.485 on Promulgating the Regulations for Administration of Commercial Franchise on Feb. 6, 2007. It is the first administrative statue made for domestic trade since the Ministry of Commerce founded. It both marks the great achievement gained in domestic trade legislation and building up of legal system for the commercial franchises. In order to ensure implementation of the regulation, MOFCOM released Administrative Measures for Recording Commercial Franchises and Administrative Measures for Information Disclosure of Commercial Franchises on May 1, on the basis of thorough research and study and soliciting opinions. The Measures are the specific step for MOFCOM to fulfill the regulations and the significant guarantee to regulate business events of commercial franchises, promote healthy and orderly development as well. Since the regulations requests recording management of such business events, the Administrative Measures for Recording Commercial Franchises has made specific regulations for the recording work from aspect like recording documents, procedure, pattern and monitor. With the aim of convenient the recording, MOFCOM organized to explore online recording system. With such system, convenience will be brought to recording procedure, regulating the record and efficiency improvement. It will also helps to set up complete information of the recorded person so as to monitor by the public and strengthen administration of all local authorities of commerce on commercial franchises. Administrative Measures for Information Disclosure of Commercial Franchises is made in accordance with the regulations and use international regulations for reference. In order to set up a more complete information disclose system, combining with domestic commercial franchises practice, the Measures clearly regulated main body of the responsibility, made clear for the content and measures of information disclosure, which in turn brought open and transparency to the commercial franchises, ensured rights of knowing and enhanced maneuverability of the regulations. (Source: Chinese Version of MOFCOM) (Translated by Network Center of MOFCOM) |
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