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PROCEDURES OF THE
PEOPLE'S REPUBLIC OF CHINA FOR THE REGISTRATION AND ADMINISTRATION OF
CHINESE-FOREIGN JOINT VENTURES
Article 1.
In accordance with the provisions of the Law of the People's Republic of China
on Chinese-Foreign Joint Ventures, these Procedures are formulated in order to
carry out the registration and administration of Chinese-foreign joint ventures
and to safeguard their lawful operations.
Article 2.
A Chinese-foreign joint venture that has been approved by the Foreign Investment
Commission of the People's Republic of China shall, within one month after
approval, register with the General Administration for Industry and Commerce of
the People's Republic of China.
The General Administration for Industry and Commerce of the People's
Republic of China shall authorize the administrative bureaus for industry and
commerce of the provinces, autonomous regions and municipalities directly under
the central authority to handle registration procedures for Chinese-foreign
joint ventures within the areas under their jurisdiction, and business license
shall be issued after examination and approval by the General Administration for
Industry and Commerce of the People's Republic of China.
Article 3.
A Chinese-foreign joint venture that applies for registration shall present the
following documents:
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The document of approval issued by the Foreign Investment Commission of
the People's Republic of China;
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Three copies each of the Chinese and foreign language texts of the
joint venture agreement and contract signed by the parties to the joint
venture and its articles of association; and
-
A copy of the business license or other documents issued by the
competent department of the government of the country (or region) from which
the foreign joint venturer(s) come.
Article 4.
When a Chinese-foreign joint venture applies for registration, it shall fill out
three copies each of a registration form in Chinese and a foreign language. The
main items of registration shall be: the name of the venture, the address, the
scope of production and operation, the form of production and operation, the
registered capital and the proportion to be provided by each party to the joint
venture, the chairman and vice- chairman of the board of directors, the
president and vice-presidents or the factory manager and deputy factory
managers, the number and date of the document of approval, the total number of
staff and workers and the number of staff and workers of foreign nationality.
Article 5.
From the date it is issued its business license, a Chinese-foreign joint venture
shall be regarded as formally established, and its legitimate production and
operation activities shall be protected by the laws of the People's Republic of
China.
Unregistered enterprises shall not be permitted to go into operation.
Article 6.
A Chinese-foreign joint venture shall, upon presenting its business license,
open an account with the Bank of China or a bank approved by the Bank of China
and register with the local tax authorities for the payment of taxes.
Article 7.
When a Chinese-foreign joint venture desires to move to a new site, change its
line of production, increase, decrease of assign the registered capital or
extend the contract period, it shall, within one month after approval by the
Foreign Investment Commission of the People's Republic of China go through
procedures for registering the changes with the administrative bureau for
industry and commerce of the province, autonomous region or municipality
directly under the central authority where it is located.
When there are changes in other registered items, they shall be reported
in writing at the end of the year to the administrative bureau for industry and
commerce of the province, autonomous region or municipality directly under the
central authority where the joint venture is located.
Article 8.
When a Chinese-foreign joint venture registers or modifies its registration, it
shall pay a registration fee or a fee for modification of registration, the
amount of which shall be stipulated by the General Administration for Industry
and Commerce of the People's Republic of China.
Article 9.
A Chinese-foreign joint venture, upon the expiration of the contract period or
upon termination of the contract before the date of expiration, shall go through
procedures for nullifying its registration by presenting the document of
approval, issued by the Foreign Investment Commission of the People's Republic
of China, to the administrative bureau for industry and commerce of the
province, autonomous region or municipalities directly under the central
authority where it is located and, after examination and approval by the General
Administration for Industry and Commerce of the People's Republic of China, hand
in its business license for cancellation.
Article 10.
The General Administration for Industry and Commerce of the People's Republic of
China and the administrative bureaus for industry and commerce of the provinces,
autonomous regions and municipalities directly under the central authority have
the right to supervise and inspect the Chinese-foreign joint ventures within the
area under their jurisdiction. Violators of these Procedures shall be given a
warning or a fine in accordance with the seriousness of each case.
Article 11.
These Procedures shall go into effect on the day they are promulgated.
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