It would be difficult to give you all details in one post, but to work you through the basics:
-You have the option to setup a wholly foreign owned company or wfoe (for instance under your own name) or a representative office of a foreign company. The wfoe will have a registered capital requirement. For trading that would be a minimum of RMB500,000 to RMB1 million depending of your business scope and industry. The ro does not have a registered capital but is limited in scope, you can't generate revenues from it and even to hire people you need to go through a government agency etc.
-The registration fees will vary depending of the agency you choose. For wfoe it can be anywhere from RMB10K to RMB50K or even more.
-The registration period is usually 3~4 months for wfoe and 2 months for ro.
-With a trading wfoe you can apply for an export license (normally included in the registration procedures) and obtain a residence permit as the legal person of the company.
For more professional advice or to get started on the registration procedures...go to
www.sinoinvest.hk