Key Benefits:
(No. 90 of the People's Government Order No. 90 of 12 July 2003) Article 1 facilitates the development of entrepreneurship investment industries in high-level new technologies and accelerates the industrialization of new technologies in order to attract foreign-enter capital in the country. Article 2 Article III refers to investment in entrepreneurship as described in this Article to a variety of equity investments, mainly for high-technical enterprises, small and medium-sized enterprises, and for science and technology results-based transformation projects, and to the provision of business management and advisory services to obtain capital value-added investment. Article IV states that entrepreneurship investment agencies refer to entrepreneurship investment and entrepreneurship investment management enterprises. Entrepreneurship investments are non-financial enterprises that invest directly in corporate operations. Entrepreneurship investment management enterprises are commissioned by entrepreneurship investment enterprises, acting investments, business, management, or recommended, assessing investment projects. Article 5 Entrepreneurship investment institutions can adopt various forms of business. Entrepreneurship investment enterprises can also use the form of entrepreneurship investment funds and limited partnerships. The entrepreneurship investment fund should be established in accordance with the relevant national provisions. The establishment of entrepreneurship investment institutions is registered. Except as otherwise provided by law, legislation and regulations. The name of entrepreneurship investment institutions could be used in the words “investment in entrepreneurship (risk investments)”, “Institution investment management (risk investment management). Entrepreneurship investment enterprises with more than 20000,000 dollars of registered capital funds may be in place, but the first-time capital is not less than one third of the registered capital, and the last period should be in place within three years from the date of the issuance of the business licence. Article 7. entrepreneurship investment institutions shall not engage in financial operations. Article 8. Entrepreneurship investment enterprises can invest in full capital. Article 9. Entrepreneurship investment enterprises can invest in the way of using the general equity approach and the conversion of priority units, convertable bonds, recognition of equity certificates. Article 10 Entrepreneurship investment enterprises can allocate their benefits on a regular basis or when the proceeds are realized, and the entrepreneurship investment enterprises have already been located in the city, which can allocate the movable stocks directly to shareholders or donors. Article 11 Entrepreneurship investment enterprises should establish sound internal incentives and binding mechanisms. Entrepreneurship investment enterprises can stimulate major operators and business niches, including through incentives for cash or equity rights, according to the appropriate proportion of investment returns. At the same time, there is a need to clarify the responsibility of senior managers for misconduct and for serious misconduct. Article 12 Entrepreneurship investment enterprises can withdraw from change through businesses and acquisitions, transfer of equity, re-entry, technology property transactions, internal and external stocks. The Technical Property Exchange provides information services such as enterprise assets, operations, management, etc. for entrepreneurship investment agencies, with their consent. Article 13 entrepreneurship investment in high-technical enterprises and science- and technology-based small and medium-sized enterprises within the province's administrative region, as well as the science and technology results-transfer projects, exceeds 70 per cent of the total investment, with provincial science and technology administrative authorities determining the benefits of high-technical enterprises. Enterprises in entrepreneurship can be financed by a 3 per cent risk reserve for their investments in high-technical enterprises and science- and technology-based small and medium-sized enterprises within the province's administrative region, as well as in the science and technology results-based transformation project, and the risk reserve can be charged before the tax. Entrepreneurship investment management enterprises have been identified by provincial science and technology administrative authorities to benefit from the preferential policies of high-technical enterprises. Article 14. Entrepreneurship investment institutions that apply for preferential policies should submit written requests to provincial science and technology administration authorities. The provincial science and technology administration authorities should be determined within 30 days that the grounds should not be identified and communicated to the applicant in writing. The entrepreneurship investment institutions that have enjoyed preferential policies are reviewed by provincial science and technology administration authorities. The policy of preference was no longer enjoyed through the annual review. The annual trial shall not be charged. Article 15 encourages the establishment of entrepreneurship investment associations, the conduct of industry self-regulation and regulation, the provision of relevant policies, projects and information services, and the promotion of entrepreneurship investment development. Article 16 Article 17 |
