Following the implementation of the Foreign Investment Law of the People's Republic of China in 2020, no prior approval from Beijing Municipal Commerce Bureau is required for any change to the information of a foreign-funded enterprise. If a foreign-funded enterprise needs to transfer equity, it must update such information at the State Administration for Market Regulation and submit a report regarding the change. Three working days after the update, the enterprise can contact the commerce bureau of the district where the enterprise is based to obtain a receipt for the report.