CHINA / Policies |
Law of the People's Republic of China on Foreign Capital Enterprises (1986)Updated: 2006-04-20 09:41 Article 19 The foreign investor may remit abroad profits that are lawfully
earned from an enterprise with foreign capital, as well as other lawful earnings
and any funds remaining after the enterprise is liquidated. Article 20 With respect to the period of operations of an enterprise with foreign capital, the foreign investor shall report to and secure approval from the authorities in charge of examination and approval. For an extension of the period of operations, an application shall be submitted to the said authorities 180 days before the expiration of the period. The authorities in charge of examination and approval shall, within 30 days from the date such application is received, decide whether or not to grant the extension. Article 21 When terminating its operations, an enterprise with foreign
capital shall promptly issue a public notice and proceed with liquidation in
accordance with legal procedure. Article 22 At the termination of operations, the enterprise with foreign capital shall nullify its registration with the industry and commerce administration authorities and hand in its business licence for cancellation. Article 23 The department under the State Council which is in charge of foreign economic relations and trade shall, in accordance with this Law, formulate rules for its implementation, which shall go into effect after being submitted to and approved by the State Council. Article 24 This Law shall go into effect as of the date of its promulgation.
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