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General Office of the State Council
Circular of General Office of the State Council on Issues Concerning the Investment of Chinese Citizens of Hong Kong Special Administrative
Region in the Mainland of China
GuoBanHan [1997] No. 66
December 22, 1997
The people’s governments of all provinces, autonomous regions, and municipalities directly under the Central Government:
Shortly before and after the Government of the People’s Republic of China resumed the exercise of sovereignty over Hong Kong, a few
regions, in order to attract the investment of medium and small investors from Hong Kong, successively worked out and publicized
some policies, which stipulated that the residents of Hong Kong may apply for the establishment of small-scaled private business
or private enterprises on the volunteering basis and receive same treatment with respect to industry engaged and operational method
as inland residents. The above provisions are in violation of the relevant laws, regulations and policies of China on foreign investment
utilization. Moreover, they are inconsistent with the spirit of the Circular of the Central Committee of the Communist Party of China
(CCCPC) and the State Council on Several Issues Concerning How to Properly Handle the Relationship between the Mainland of China
and Hong Kong(ZhongFa [1996] No. 8) and the Circular of the General Office of the CCCPC and the General Office of the State Council
on Publicizing the ” Notice on Issues Concerning Hong Kong’ Return to China”(ZhongBanFa [1997] No. 8). Upon approval of the State
Council, the Circular on the issues concerned is hereby publicized as follows:
1.
The existing laws, regulations and corresponding procedural stipulations on foreign investment apply to the companies, enterprises
and other economic organizations or individuals of Hong Kong Special Administrative Region in investing in the Chinese mainland.
The regulations of different localities for the purpose of attracting investment from medium and small investors of Hong Kong that
are already publicized or in the pipeline shall be immediately stopped from formulating or implementing if they are not consistent
with the existing laws, regulations and corresponding procedural stipulations.
2.
All regions shall solicit the opinions of the competent authority of the State Council before formulating any local laws and regulations
relating to Hong Kong Special Administrative Region. Major issues shall be reported to and approved by the CCCPC and the State Council.
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