The State Science and Technology Commission, the State Administration for Industry and Commerce Circular of the State Science and Technology Commission and the State Administration for Industry and Commerce Issuing the Provisions GuoKeFaZhengZi [1997] No.326 July 4, 1997 To standardize the behavior of using the high and new technology achievements as investment for shares and to promote the development Article 1 These Provisions are formulated in accordance with the Company Law and other laws and regulations and for the purposes of standardizing Article 2 These Provisions apply to the use of high and new technology achievements as investment into incorporated companies for shares. Article 3 When high and new technology achievements are used as investment for shares, the total amount priced may exceed 20% of the company’s Article 4 A high and new technology achievement used as investment for shares shall meet the following requirements: (1) falling into the range of high and new technologies published by the State Science and Technology Commission; (2) being the core technology for the company’s main products; (3) having the lawful right of disposition over the said technology by the contributor of the technology achievement and guaranteeing (4) having been acknowledged by the State Science and Technology Commission or the science and technology administration department at Article 5 The science and technology administration departments acknowledge high and new technologies within the following scope: (1) microelectronic science and electronic information technology; (2) space science and aerospace technology; (3) photoelectric science and optical-mechanical-electric technology; (4) life science and bioengineering; (5) materials science and new material technology; (6) energy science and new energy and highly energy-saving technology; (7) ecology and environmental protection technology; (8) geoscience and oceanographic engineering technology; (9) basic substance science and radioactive technology; (10) medical science and bioengineering technology; and (11) new techniques and new technologies applied on the basis of other traditional industries. This scope of high and new technologies is supplemented and modified by the State Science and Technology Commission in accordance Article 6 When a high and new technology achievement is used as investment for shares, the contributor of the achievement shall, through agreement Article 7 High and new technology achievements invested as shares must be evaluated and priced by the evaluation organizations registered at (1) a written application for investment as shares on the technology achievement, including the right status of the technology achievement, (2) documentary evidences proving the contributor’s rights over the said technology achievement, including such related legal instruments (3) agreement on technology investment as shares and the company’s approval or production plans on utilizing the said achievement; (4) an evaluation report on the value of the technology achievement and non-State own acknowledgment; and (5) other documents required by the science and technology administration department. Article 8 After examination and acknowledgment by the science and technology administration department, shareholders of the company shall reach Article 9 Shareholders of the company shall, according to the State’s provisions on the registration for the establishment or change of incorporated Article 10 After the establishment of the company, the contributor of high and new technology achievement as investment for shares shall, according Article 11 Evaluators and related persons in charge of the examination and registration of the high and new technology achievements as investment Article 12 If both the Chinese and foreign parties to Chinese-foreign equity joint ventures and Chinese-foreign joint contractual ventures use Article 13 If non-company science and technology development enterprises with legal person status use high and new technology achievements as Article 14 These Provisions are interpreted by the State Science and Technology Commission and the State Administration for Industry and Commerce. Article 15 These Provisions shall enter into force as of the date of promulgation. |
The State Science and Technology Commission, the State Administration for Industry and Commerce
1997-07-04