AIC should more correctly be referred as SAIC, the State Administration for Industry and Commerce (in Chinese: 国家工商行政管理总局). It is the authority in China responsible for advancing legislation concerning the administration of industry and commerce. What is SAIC responsible for?
On a local level, the organization’s responsibilities roughly mimic those of the secretaries of individual states in the United States as a “Market Entity” registration and licensing authority.
In practice, local people refer AIC as the SAIC’s local branch in each province, or a major city, as a Government department with the jurisdiction over the industry and commerce in that region. People tend to use the term “SAIC” or “State AIC” as the national authority.
AIC or SAIC functions in maintaining market order and protecting the legitimate rights and interests of businesses and consumers by carrying out regulations in the fields of enterprise registration, competition, consumer protection, trademark protection and combating economic illegalities. The top three responsibilities of SAIC are:
The complete mission of SAIC is found in the link below:
A businessman who wants to setup a new business will have to deal with a local AIC. The registration process starts with the AIC’s approval of the proposed entity name. Nowadays, getting an entity name approved is as difficult as acquiring a new domain name on the internet because most word combinations have been taken.
This Credit Insight is an extract from the book Happy Customers Faster Cash, China Edition and on sale at Amazon.
More companies sell on credit to their customers in China. This book shares with you, using statistical data, the true picture of payment behavior in China. It also contains lots of cultural insights for you to better understand the business environment in China. A chapter is dedicated to discuss various aspects of China company credit reports.
Alexander has over 25 years of experience in Business Information Management and Information Technology. Previously, he has held leadership positions in the world’s leading Business Information providers, including Managing Director of Thomson Reuters Asia, and General Manager of Dun & Bradstreet (D&B), Hong Kong and Taiwan. In addition, he personally managed Hong Kong's Commercial Credit Bureau while working with D&B, and the Consumer Credit Bureau through his directorship at TransUnion Limited.