Same Treatment on Refined Oil Retail from Domestic and Foreign Investment since Next Month in Qianhai-Shekou Polit Free Trade Area, Shenzhen

04 04, 2018      Source: Golden Sheep Online

On April 3, the Economic, Trade and Information Commission of Shenzhen Municipality announced that from May 1, 2018, the examination and approval of the refined oil retail business qualifications will be subject to the optimized approval and management in Qianhai-Shenkou areas of Shenzhen, Guangdong Pilot Free Trade Areas.

Specifically, the "on-site verification" process in the administrative approval of petroleum product retail licenses will be eliminated. The original "on-site verification" procedure will be replaced by the verification through Internet electronic maps, etc., and the number of required materials will be reduced. The development progress of the data platform will be unified according to the information resource sharing and exchange platforms and public credit information publicizing systems, etc. As for enterprises which have achieved the sharing of license information, these enterprises would no longer need to provide original materials for auditing and verification, fundamentally resolving issues of duplicate submission and duplicate certification.

Shenzhen will also ease the access of refined oil retail, and cancel the restriction that “As for foreign investors who occupy in refined oil retail and operate of more than 30 gas stations and above in China (including investment in construction of gas stations, holdings, and leases) and investors who sell different types and brands of refined oil from multiple suppliers, foreign holdings are not allowed or legalized ("Article 10 of Measures for the Administration of the Refined Oil Market"), thus the same treatment on domestic and foreign investor is applied.

In addition, relevant government will also optimize the online handling process, and re-revise the "Guidelines for the Examination and Approval of Refined Oil Products Retail Business Qualifications." Through explanations and explanations of the approval conditions and application materials, the administrative counterparts will be more familiar with specific standards and requirements.