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State Administration of Radio, Film and Television Order of the State Administration of Radio, Film and Television No.21 The Provisional Regulation on Investment in Cinemas by Foreign Investors, which was passed at the executive meeting of the State Administration Xu Guangchun, Director of the State Administration of Radio, Film and Television Lv Fuyuan, Minister of Commerce of the People’s Republic of China Sun Jiazheng, Minister of Culture of the People’s Republic of China November 25, 2003 Provisional Regulation on Investment in Cinemas by Foreign Investors Article 1 The present Regulation is formulated according to h the Law of the People’s Republic of China on Chinese-foreign Equity Joint Ventures, Article 2 The present Regulation shall be applicable to the foreign companies, enterprises, other economic organizations or individuals (hereinafter Article 3 Overseas investors are not permitted to establish any solely-owned cinemas or form any film network companies. Article 4 Foreign investors who intend to invent in cinemas shall satisfy the conditions as follows: 1) The arrangements and planning are in line with the local cultural facilities; 2) The registered capital is no less than 6 million Yuan; 3) There are fixed business (showing) premises; 4) For the Chinese-foreign equity joint cinemas to be established, the share of the investment made by the Chinese party in the registered 5) The period of the equity or contractual joint venture shall not exceed 30 years; and 6) The equity or contractual joint venture shall abide by the relevant laws, regulations and provisions of China. Article 5 In the case that the Chinese party makes the investment with state-owned assets (excluding cash), the relevant formalities shall be Article 6 The establishment of a foreign-funded cinema shall be reported for examination and approval in accordance with the procedures as follows: 1) The Chinese party must submit an application to the provincial administrative department of commerce of the place where it is located, 1. The project application form of the establishment of the foreign-funded cinema; 2. The certificate of juridical person status of the Chinese party, the documents relating to the land use right of the cinema, and the 3. The qualification certificate of the foreign party, the creditability certificate issued by the bank, and the financial status certificate 4. The notice for preliminary approval of the cinema name issued by the department of industry and commerce administration; 5. The feasibility study report, contract, and articles of association; and 6. Other documents required by the laws and regulations and the examination and approving authority. 2) After obtaining consent from the provincial administrative department of film, the provincial administrative department of commerce 3) For a foreign-funded cinema that has been permitted to establish, the applicant shall, within one month from the day of receiving 4) After the construction or reconstruction of a foreign-funded cinema has been finished and after the said cinema has been checked and Article 7 For any change of the shareholding or investment of a foreign-funded cinema that has been established, the procedures prescribed in Article 8 A foreign-funded cinema must abide by the relevant laws and regulations of the state, run businesses in the light with the Regulation Article 9 Foreign investors who are engaged in any other entertainment business affiliated to the cinema shall comply with the relevant provisions Article 10 For investors from Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan area who establish any Article 11 The present Regulation and the appendix hereto shall go into effect on January 1, 2004. The Provisional Regulation on Investment in
In order to promote the establishment of closer economic and trade relationship between Hong Kong, Macao and the mainland of China, 1. From January 1, 2004, service providers from Hong Kong and Macao shall be permitted to construct, reconstruct and operate cinemas 2. Other provisions on investment in cinemas by service providers from Hong Kong and Macao in the mainland of China shall still comply |
State Administration of Radio, Film and Television
2003-11-25