|
Procedures for the Application; Examination and Approval of Sino-Foreign
Joint Ventures I. Powers for Examination and Approval: According to the
current laws and regulations of the State, the system of examination and
approval for registration shall be implemented for the establishment of
enterprises with foreign investment in a case by case manner. The total
investment amount and project categories in Catalogue for the Guidance of
Foreign Investment Industries are the major criteria for dividing the powers
between the central government and local governments in the examination and
approval of foreign-funded enterprises. 1. For the allowed and encouraged
types of enterprises with foreign investment below US$30 million (excluding
US$30 million, the same hereafter), the city, county or development zone has the
right over the examination and approval; 2. For the limited type of
enterprises with foreign investment below US$50 million, for projects of
allowed and encouraged types with foreign investment between US$30 million to
US$100 million, for the allowed and encouraged types of enterprises established
with newly added foreign investment below US$100 million, and for the limited
type of enterprises established with newly added foreign investment below US$50
million, our provincial bureau has the right over the examination and approval;
3. For the limited types of projects with foreign investment over US$50
million , projects of allowed and encouraged types with foreign investment over
US$100 million, and for the allowed and encouraged types of enterprises
established with newly added foreign investment over US$100 million, and for the
limited type of enterprises established with newly added foreign investment over
US$50 million, and those projects involving quota license or separate documented
rules that require the examination and approval by the ministry, the Ministry of
Commerce has the right over the examination and approval. * See
Catalogue for the Guidance of Foreign Investment Industries for the encouraged
and limited types. * Companies whose business involves crop seeds and
petroleum exploration; commercial business, advertisement agencies, employment
service bodies, telecommunication companies, cinemas, printing factories,
schools, medical care services, railway and road transport services,
international freight agencies, shipping companies, construction and design
companies, law firms, accounting firms, leasing companies, commodity inspection
companies, finance, insurance and securities companies are subject to special
regulations. * Limited liability companies and investment companies
need to be examined and approved by the Ministry of
Commerce. II. Documents needed for application:
1. An application for the establishment of an enterprise
with foreign investment 2. Name pre-registration notice
(industrial and commercial department) 3. Feasibility
report (joint ventures or projects over US$30 million and special industries
shall provide written replies from relevant authorities)
4. Contracts and articles of association (foreign funded enterprises need only
provide the articles of association) 5. The registration
certificates and certificates of credit standing of all the
investors; 6. Name list of the Board of Directors and
appointment certificate of board of directors 7. Necessary
authorization documents 8. Other documents specified in
the laws and regulations
|