Company: ABLV
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001213900-25-034677
Chunk: 52

Company: Able View Global Inc.
Filing Date: 2025-04-23
Form: 20-F
Item: Item 3
Chunk 52
---
 (iv) investments in other means as provided by laws, administrative regulations, or the
State Council.

According to the PRC Foreign Investment Law, the
State Council will publish or approve to publish the “negative list” for special administrative measures concerning foreign
investment. The PRC Foreign Investment Law grants national treatment to foreign-invested entities, or FIEs, except for those FIEs that
operate in industries deemed to be either “restricted” or “prohibited” in the “negative list”. The
National Development and Reform Commission and the Ministry of Commerce publicly released the Directory of Industries to Encourage Foreign
Investment (Encouraged Catalogue) (2020 Edition) and the Directory of Industries to Encourage Foreign Investment (Encouraged Catalogue)
(2022 Edition) on December 28, 2020 and October 22, 2022 respectively, and the latter has been effective and replaced the former from
January 1, 2023. On November 1, 2024, the National Development and Reform Commission of China (“ NDRC”) and the Ministry of
Commerce (“ MOFCOM”) jointly implemented the Special Administrative Measures for Foreign Investment Access (Negative List)
(2024 Edition), superseding the Negative List (2021 Edition) promulgated on December 27, 2021. As per these policies, the national negative
list of foreign investment access was reduced from 31 to 29. Industries listed in the 2022 Encouraged Catalogue are the encouraged industries.
On the other hand, industries listed in the 2024 Negative List are subject to special management measures. For example, establishment
of wholly foreign-owned enterprises is generally allowed in industries outside of the 2024 Negative List. Also, foreign investors are
not allowed to invest in industries that are expressly prohibited in the 2024 Negative List. The industries that are not expressly prohibited
in the Negative List are still subject to government approvals and certain special requirements.

On December 20, 2024, NDRC and MOFCOM released
the Catalogue of Encouraged Industries for Foreign Investment (Exposure Draft), revising the 2022 Encouraged Catalogue. This draft is
open for public feedback until January 20, 2025, the potential impact to such revisions is still unknown.

Able View, as a comprehensive brand management
partner, distribute and sell cross-border products from various global brand owners to Chinese consumers through multiple e-commerce channels.
The industry