INTERNET MAP SERVICE THRESHOLD LOWERED

AsiaInfo Services
06-03-2011
Internet Map Service Threshold Lowered

BEIJING, Jun 03, 2011 (SinoCast Daily Business Beat via COMTEX) -- Under the newly-amended management approach, foreign organizations such as Google China still need to set up joint venture companies by the laws if they want to obtain the Internet map service qualification, but the requirements on Chinese controlling shareholders have changed, according to information issued by the State Bureau of Surveying and Mapping of China on June 2, 2011.

Recently, the State Bureau of Surveying and Mapping started to rectify the Internet map service and revealed that after July 1, all websites that are publically exposed not to apply for Internet map service mapping qualification but continue to engage in the Internet map service will be investigated and punished according to the laws.

Noticeably, the Chinese regulator earlier required that the Chinese shareholders must hold a controlling stake in the joint venture companies, which changed to that the stake held by foreign investors in the joint venture shall not exceed 50%.

Source: www.sina.com.cn (June 03, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
Internet Search Engines
SinoCast China Business Daily news
Internet map service
controlling shareholder
stake
JV
website

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