Since January 1, 2020, the Foreign Investment Law of the People's Republic of China officially came into effect. Article 34 stipulates that “The State establishes a system for foreign investment information reporting. Foreign investors or foreign-invested enterprises shall submit investment information to the competent commerce departments through the enterprise registration system and the enterprise credit information publicity system.” Therefore, as of January 1, 2020, the approval management system by the commerce departments has been abolished, relevant approval certificates are no longer issued, and foreign-invested enterprises no longer need to update the Certificate of Approval for Establishment of Enterprises with Foreign Investment in the People's Republic of China or the Certificate of Approval for Establishment of Enterprises with Investment of Taiwan, Hong Kong, Macao and Overseas Chinese in the People's Republic of China when establishing or changing their business.