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What Can We Learn from the Business License?
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When a child is born, a birth certificate will be issued. When a company is incorporated, a business license will be granted. So, a business license is similar to a certificate of identification for a company, just like a birth certificate to a person. The day the business license is issued, is the day the company is officially incorporated. The company can proceed with other formalities, such as opening a bank account, tax registration, filing with the Ministry of Commerce, to have company seals made etc.For those who deal with the company, the business license is equally important. Because they can glean from the business license all important information about a company. Let’s see what we can learn from the business license:1. Unified Social Credit CodeThe Unified Social Credit Code of a company is just like the ID number for any individual. Which is unique for each company and will be associated with a particular company from its incorporation till its official deregistration. It’s a set of codes consisting of 18 letters or numbers. It’s the same as the Taxpayer Identification Number (Tax No. for short). However, the purpose is totally different. The Tax No. is mainly for a company’s tax obligations, however the Unified Social Credit Code is an identity code for a company.
2. Company name
Many companies in China, have an English name, especially for export-oriented companies, which you can find on their business cards, their websites, their booths in trade exhibitions or E-commerce platforms. You can even locate them on the internet and social media via their English name. But do you think you could locate them in the same way as you do in the virtual world? If so, then you are wrong. One important thing you have to keep in mind when doing business in China is that, all official documents from the Government are issued in Chinese, and all documents you submit to Government need to be in Chinese, too. The business license is no exception, including all company information，except the name of the legal representative, which could be in English, if he or she is a foreigner.So just remember, the only official name for a Chinese company will be the name in Chinese shown on its business license. A simple but important fact. It’s ok if you can’t read Chinese, but if you don’t know a company’s Chinese name, you can’t really claim to know this company.
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