A discussion about the necessary legal aspects of investment in the peoples republic of china

Article 2 The Chinese government protects, in accordance with the law, the investment of foreign partner in a joint ventures, the profits due them and their other lawful rights and interests in a joint venture, pursuant to the agreement, contract and articles of association approved by the Chinese government. The state shall not nationalize or take over joint ventures; under special circumstances and according to the needs of social public interests, the state may requisite joint ventures according to legal procedures with due compensation. After approval, the joint venture should register with the competent administration department for industry and commerce, obtain a license to do business and start operation. Article 4 A joint venture shall take the form of a limited liability company.

A discussion about the necessary legal aspects of investment in the peoples republic of china

Chapter 1 General Provisions Article 1. The industries in which the establishment of joint venture is encouraged, permitted, restricted or prohibited shall follow the provisions of the state on guiding the direction of foreign investment and the guiding catalog of foreign-funded industries.

Applicants to establish joint ventures shall not be granted approval if the project involves any of the following conditions: A joint venture has the right to do business independently within the scope of the provisions of Chinese laws, decrees, and the agreement, contract and articles of association of the joint venture.

The departments concerned shall provide support and assistance. The joint venture established after being approved according to the preceding paragraph shall be reported to the Ministry of Foreign Trade and Economic Cooperation for record.

When applying for the establishment of a joint venture, the Chinese and foreign participants in the joint venture shall jointly submit the following documents to the examination and approval authority: The aforesaid documents shall be written in Chinese.

Documents 23 and 4 may be written simultaneously in a foreign language agreed upon by the participants. Both versions are equally authentic. Should anything inappropriate be found in any of the documents submitted, the examination and approval authority shall demand an amendment to it within a limited time.

Upon receipt of the documents stipulated in Article 7 of these Regulations, the examination and approval authority shall, within three months, decide whether to approve or disapprove them. The applicant shall, within one month after receipt of the certificate of approval, register with the administrative bureau for industry and commerce hereinafter referred to as registration and administration office in accordance with the relevant provisions of the state.

The date on which its business license is issued shall be regarded as the date of the establishment of a joint venture. The "joint venture agreement" mentioned in these Regulations refers to a document agreed upon by the parties to the joint venture on some main points and principles governing the establishment of a joint venture.

Great by Design (14)

If the joint venture agreement conflicts with the contract, the contract shall prevail. If the parties to the joint venture agree to sign only a contract and articles of association, the agreement can be omitted.

The joint venture contract shall include the following main items: The annex to the contract of a joint venture shall be equally authentic with the contract itself.

The formation of a joint venture contract, its validity, interpretation, execution and the settlement of disputes under it shall be governed by the Chinese law. Articles of association shall include the following main items: The agreement, contract and articles of association shall come into force after being approved by the examination and approval authority.

The same applies in the event of amendments. The examination and approval authority and the registration and administration office are responsible for supervising and inspecting the execution of the joint venture contracts and articles of association.

A joint venture is a limited liability company. Each party to the joint venture is liable to the joint venture within the limit of the capital subscribed by it. The registered capital shall generally be presented in total amount of investment registered at the registration and administration office for the establishment of the joint venture.

It should be the total amount of investment subscribed by parties to the joint venture. The registered capital shall generally be presented in Renminbi, or may be in a foreign currency agreed upon by the parties to the joint venture.

A joint venture shall not reduce its registered capital during the term of the joint venture.

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If it is needed to reduce the registered capital because the total amount of investment and the production and business scale, etc, have changed, the approval from the examination and approval authority must be obtained.

If one party to the joint venture intends to assign all or part of his investment subscribed to a third party, consent shall be obtained from the other party to the joint venture, and the party shall submit the assignment to the examination and approval authority for approval, and shall go through the registration procedures for changes with the registration and administration office.

When one party assigns all or part of his investment to a third party, the other party has pre-emptive right.

When one party assigns his investment subscribed to a third party, the conditions given shall not be more favourable than those given to the other party to the joint venture. No assignment shall be made effective should there be any violation of the above stipulations.

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Any increase, reduction of the registered capital of a joint venture shall be approved by a meeting of the board of directors and submitted to the examination and approval authority for approval. Registration procedures for changes shall be dealt with at the registration and administration office.

A discussion about the necessary legal aspects of investment in the peoples republic of china

Chapter 4 Ways of Contributing Investment Article Each participant to a joint venture may contribute cash or buildings, premises, equipment or other materials, industrial property, know-how, right to the use of a site as investment, the value of which shall be ascertained.Foreign Investment Law of the People's Republic of China (Draft for Comments) Investment Protection Coordination and Handling of Complaints Supervision and Inspection Legal liability Supplementary Provisions Chapter I Chapter 2 Chapter 3 Chapter 4 be deemed as investments within the territory of China made by the foreign investor.

As a follow-up to Tuesday’s post about the majority-minority public schools in Oslo, the following brief account reports the latest statistics on the cultural enrichment of schools in Austria. Vienna is the most fully enriched location, and seems to be in roughly the same situation as Oslo.

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Many thanks to Hermes for the translation from regardbouddhiste.com Taiwan (/ t aɪ ˈ w ɑː n / (listen), UK also /-ˈ w ɒ n, -ˈ w æ n /), officially the Republic of China (ROC), is a state in East Asia. Its neighbors include the People's Republic of China (PRC) to the west, Japan to the northeast, and the Philippines to the south.

It is the most populous state and largest economy that is not a member of the United Nations.. The island of Taiwan.

Taiwan (/ t aɪ ˈ w ɑː n / (listen), UK also /-ˈ w ɒ n, -ˈ w æ n /), officially the Republic of China (ROC), is a state in East Asia. Its neighbors include the People's Republic of China (PRC) to the west, Japan to the northeast, and the Philippines to the south. It is the most populous state and largest economy that is not a member of the United Nations.. The island of Taiwan. AET Internal Combustion Engine Theory and Servicing. This is a theory/laboratory course designed to introduce the student to basic heat engine types, their . Foreign Investment Law of the People's Republic of China (Draft for Comments) Investment Protection Coordination and Handling of Complaints Supervision and Inspection Legal liability Supplementary Provisions Chapter I Chapter 2 Chapter 3 Chapter 4 be deemed as investments within the territory of China made by the foreign investor.

Jun 23,  · Since the founding of the People’s Republic of China trade has been playing an increasingly important role in the Chinese economy. The characteristics of the foreign trade legal regime can be traced back to political and historical factors which occurred in China’s history leading, up to now, to a division of three main periods in the foreign trade legal regime.

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References :: Definitions and Notes — The World Factbook - Central Intelligence Agency