Interim Measures For The Establishment Of Sino-Foreign Joint Venture Foreign Trade Companies

Original Language Title: 关于设立中外合资对外贸易公司暂行办法

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Get a Day Pass for only USD$19.99.
People's Republic of China Ministry of foreign trade and economic cooperation [2003] 1th, in order to further expand opening up, promoting the development of China's foreign trade, in 2003 the Department of foreign trade and economic cooperation Office of the second Ministerial Conference, is hereby promulgated interim measures on the establishment of Sino-foreign joint venture foreign trade companies, implemented since the 30th, after the date of issue.
                                                     From the date of implementation of the scheme, on September 2, 1996 approved by the State Council on September 30, 1996, published by the Ministry on the establishment of Sino-foreign joint venture foreign trade company interim measures be repealed simultaneously.
Minister b OO on January 31, 3 on the establishment of Sino-foreign joint venture foreign trade companies interim measures first in order to further expand opening up, promoting the development of China's foreign trade, according to the People's Republic of China's foreign trade law and the People's Republic of China on Sino-foreign joint venture enterprises and other relevant laws and regulations, these measures are formulated.
Second of these measures apply to foreign companies and enterprises (hereinafter referred to as the foreign investor) with Chinese companies and enterprises (hereinafter referred to as Chinese investors) set up in China specialized in foreign trade activities of Sino-foreign joint venture foreign trade company (hereinafter: joint-venture foreign trade company). Third joint-venture foreign trade company is a limited liability company.
In the registered capital of the joint venture foreign trade companies, the proportion of foreign investors should be more than 25%.
Fourth joint venture foreign trade companies should comply with the following conditions: (a) foreign investors to apply for the first three years the average annual trade with China more than US $ 30 million; joint venture foreign trade companies registered in the Central and Western regions, foreign investors to apply for the first three years the average annual trade with China of more than $ 20 million.
(B) the Chinese investors should have foreign trade rights; previous three-year average annual exports of more than $ 30 million; joint-venture foreign trade companies registered in the Central and Western regions, the Chinese investors to apply for the first three years the average annual imports and exports at more than $ 20 million.
  (C) joint-venture foreign trade companies should meet the following requirements: 1, registered capital shall not be less than RMB 50 million; register in the Central and Western regions, with registered capital of no less than 30 million Yuan; 2, have their own names and organizations; 3, its foreign trade activities of the business establishments, professionals and other necessary material conditions.
Fifth article application established joint venture foreign trade company, China investors must will following file through local outside trade competent sector reported foreign trade economic cooperation Department (following referred to: Ministry): (a) project proposal, and foreign parties signed of feasibility research report, and contract, and articles; (ii) foreign parties of registered registration proved file (copies), funding letter proved file and statutory representative people proved file; (three) intends established joint venture foreign trade company of import and export commodity directory;
(D) by an accounting firm audit annual financial statements of foreign and domestic parties in the last three years, and (v) other documents required by the MOFTEC.
Ministry to review all submitted materials, to qualified businesses, within 90 days from the date of receipt of all the documents for approval and issuance of certificate of approval for foreign-invested enterprises.
Sixth to set up joint-venture foreign trade companies after the application is approved, the applicant must within one month from the date of approval, according to law to the State administration for industry and commerce or its authorized local industrial and commercial Administration Bureau to apply for registration, and shall be declared to the tax authorities for tax registration. The seventh foreign investor and Chinese investors may cash, in kind, and intangible assets (including industrial property rights, know-how, land) funding.
Joint venture foreign trade companies of the joint venture should be according to the relevant State parties becomes delinquent in payment of its subscribed capital.
Eighth joint venture foreign trade companies should be in accordance with relevant regulations of the State, within the scope of business approved import or import and export of goods, technologies and related services, operation of the company's domestic wholesale business of imported goods. Nineth State applies a quota and license management of import and export commodities joint venture foreign trade companies must comply with the relevant regulations of the State, to apply to the relevant departments of the State Council and access to quotas, licenses, may be imported or exported.
  Joint venture foreign trade companies to import, or import and export commodities of the country of export quota bidding shall be in accordance with the relevant departments of the State Council on import and export commodity tendering and bidding regulations.
The tenth joint venture foreign trade companies of foreign exchange receipts and payments, in accordance with the relevant provisions of the State administration of foreign exchange.
11th joint venture foreign trade companies should be in accordance with the relevant State laws, regulations and rules of the tax on the export of goods in accordance with the relevant national laws, regulations and rules of the export refund (exemption) of tax treatment.
12th joint venture foreign trade companies should be implementing national financial, accounting, statistics, laws, regulatory requirements, and regular reporting to departments of local financial, accounting, statistical and other reports.
13th joint venture foreign trade companies can join the import and export Chamber of Commerce or Association of enterprises with foreign investment, such as joining is subject to coordination of the Chambers of Commerce or associations. 14th joint venture foreign trade companies must abide by Chinese laws and regulations, subject to Chinese laws and regulations of the jurisdiction whose legal rights and interests protected by the Chinese laws and regulations.
Joint venture foreign trade companies in violation of Chinese laws and regulations, in accordance with the relevant laws and regulations.
The 15th Hong Kong S.A.R., and Macau S.A.R., and Taiwan companies, enterprises and companies and enterprises in the Mainland to organize joint venture foreign trade companies, these rules shall apply by analogy.
Before the 16th of December 11, 2003, the Chinese share in the registered capital of the joint venture foreign trade companies is lower than 51% not accepted.
   17th explain these measures by the Ministry. (Source: the website of the Ministry)

Related Laws