Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Chinese Licence In 36 Steps For NZ Finance Broker


Release - 13 August 2008

Chinese Licence In 36 Steps For NZ Finance Broker


It has taken a New Zealand finance business 36 steps to gain a licence to trade in China, but clearing the red tape will be worth the effort, says David Weusten of Financial Service Providers.

Mr Weusten, who runs the Christchurch-based finance broking firm, now also heads Qinghai Business Development Service Company located in Xining city, on China’s historic Silk Road.

The new enterprise has two full-time staff, an expatriate American and a Briton, and for 18 months has operated as a representative office in name only before gaining its full business status.

“We still have some things to do, such as registering our foreign investment at the People’s Bank and collecting company stamps and business code books, which are relatively simple,” he said.

“But the complexities of securing a trading licence are daunting and in the previous two months alone we counted 36 separate steps in the procedure.

“It makes New Zealand look good, where you can pretty much register a company on-line and have it up and running the next day.”

The foreign-owned Qinghai business, which by law must be named after its regional location, offers financial advice to Chinese locals as well as offshore investors with an eye on local developments.

“We would be the first to produce a booklet in both Chinese and English languages on business ownership practices and principles,” Mr Weusten said.

“There are big investment opportunities in Qinghai, which has massive economic growth, including seven hydro dam projects on the nearby Yellow River.

“Tourism, agricultural and manufacturing ventures are also crying out for capital, and it matters not whether this is sourced locally or from overseas.”

He said the currently under-valued Chinese currency made foreign investment in property, industry and processing a highly attractive proposition.

“With the connections we are building across the region, we envisage a very busy and productive next few years.”

Ends


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>

ALSO:

Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>

ALSO:

Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO: