Should a foreign-invested enterprise first undergo foreign exchange deregistration or industrial and commercial deregistration in case of liquidation and cancellation?

In the event of liquidation and cancellation, a foreign-invested enterprise must in principle first conduct basic information deregistration, then industrial and commercial deregistration. The liquidation group of a foreign-invested enterprise can apply for the cancellation of the enterprise’s rights and interests after processing industrial and commercial deregistration with such materials as 1) the application form signed by the person in charge of the liquidation group affixed with the official seals of all shareholders of the original foreign-invested enterprise (or signed by the legal representative), 2) the approval document or other supporting documents (such as court rulings and administrative revocation documents) issued by the competent departments on the original foreign-invested enterprise's liquidation and cancellation, 3) the industrial and commercial deregistration certificate, 4) the certification materials issued by the competent industrial and commercial departments on the legitimate establishment of the liquidation group, 5) the subject certifications of the foreign shareholders, 6) the liquidation report, and 7) the guarantee issued by all shareholders of the original foreign-invested enterprise (the content must ensure that the liquidation group has liquidated the original foreign-invested enterprise in accordance with law, all the materials submitted to the bank are true and effective, and all the shareholders bear all the responsibilities arising from the violation of the above guarantees).