Provisions Concerning the Administration of Foreign-funded Business-starting Investment Enterprises
Updated: 2006-04-17 10:37 Article46 In the registered capital of the enterprise invested by
an FBIE, if the proportion of the actual contributions paid in by a foreign
investor or the proportion of the total contributions paid in by the foreign
investors in the proportion of the FBIE is not less than 25%, the invested
enterprise is entitled to enjoy relevant preferential treatments granted to
foreign-invested enterprises. If the said proportion is less than 25 %, the
invested enterprise shall not enjoy relevant preferential treatments granted to
foreign-invested enterprises.Article47 Where an already established
domestically-funded enterprise with domestic investor (s) of natural person may
continue to keep their status of shareholder(s) after this enterprise has
accepted the investments of an FBIE and has changed into a foreign-invested
enterprise.
Article48 Where the person-in-charge of the administrative
department of a business-starting investment enterprise or the person-in-charge
of the investment management enterprise has illegal practices, he shall be held
responsible. If the circumstances are serious, the FIBE shall not continue to
engage in business-starting investments and relevant activities of investment
management.
Chapter VIII Supplementary Provisions
Article49 The present Provisions shall be applicable to the FBIEs
to be established in the mainland by the investors from the Hong Kong Special
Administrative Region, Macao Special Administrative Region and Taiwan
Region.
Article50 The power to interpret the present Provisions shall
remain with the Ministry of Foreign Trade and Economic Cooperation, the Ministry
of Science and Technology, the State Administration for Industry and Commerce,
the State Administration of Taxation and the State administration of Foreign
Exchange.
Article51 The present Provisions shall enter into force as of
March 1, 2003. The Interim Provisions on the Establishment of Foreign-Funded
Business-starting Investment Enterprises promulgated by the Ministry of Foreign
Trade and Economic Cooperation, the Ministry of Science and Technology and the
State Administration for Industry and Commerce on August 28, 2001 shall be
abolished on the same day.
Promulgated by The Ministry of Foreign Trade and
Economic Cooperation, the Ministry of Science and Technology, the State
Administration for Industry and Commerce, the State Administration of Taxation,
the State Administration of Foreign Exchange on 2003-1-30
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