Order of the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Finance, the Ministry of Commerce, the People’s Bank of China, the State Administration of Taxation, the State Administration for Industry and Commerce, China Banking Regulatory Commission, China Securities Regulatory Commission and the State Administration for Foreign Exchange No. 39 In order to promote the development of business-starting investment enterprises, regulate their investment operations and encourage The Ministry of Science and Technology The Ministry of Finance The Ministry of Commerce The People’s Bank of China The State Administration of Taxation The State Administration for Industry and Commerce China Banking Regulatory Commission China Securities Regulatory Commission The State Administration for Foreign Exchange November 15, 2005 Interim Measures for the Administration of Business-Starting Investment Enterprises Article 1 In order to promote the development of business-starting investment enterprises, regulate their investment operations and encourage Article 2 The term “business-starting investment enterprise” as mentioned in the present Measures refers to enterprise organizations which The term “business-starting investment” as mentioned in the preceding paragraph refers to stock right investments that are injected The term “business-starting enterprise” refers to growing enterprises, which are registered and established within the territory of Article 3 The state shall adopt archival filing management on business-starting investment enterprises. Any business-starting investment enterprise Article 4 The archival filing administrative departments for the business-starting investment enterprises are classified into two levels: the Article 5 The Provisions on the Administration of Foreign-funded Business-Starting Investment Enterprises shall apply to foreign-funded business-starting Chapter II The Establishment and Archival Filing of Business-Starting Investment Enterprises Article 6 The business-starting investment enterprise may be established in the form of a limited liability company, joint stock limited company The business-starting investment enterprise established in the form of a company may consign another business-starting investment Article 7 To apply for establishing a business-starting investment enterprise or business-starting investment management consulting enterprise, Article 8 The business-starting investment enterprise, that has been registered in the administrative department for industry and commerce The business-starting investment enterprise, which has been registered at the administrative department for industry and commerce Article 9 To be archival filed at the administrative department, the business-starting investment enterprise shall possess the following conditions: (1) It has been registered at the administrative department for industry and commerce; (2) Its business scope accords with the provisions of Article 12 of the present Measures; (3) The amount of its actual capital contributions is not less than RMB 30 million Yuan or the amount of the initial payment of its capital (4) The number of investors shall not exceed 200. As for a business-starting investment enterprise established in the form of a limited (5) It shall have at least 3 senior managers who have two or more years of business-starting investment or relevant business experience The term “senior manager” as mentioned in the preceding paragraph refers to the managerial personnel who hold the position of vice Article 10 When go through the archival filing formalities at the administrative department, the business-starting investment enterprise shall (1) The legal documents that regulate the organizational procedures and acts of the business-starting investment enterprise such as the (2) The photocopies of the industrial and commercial registration documents and business license; (3) The name list of the investors, and the certificates on commitment to capital contributions and on the already paid capital contributions; (4) The name list and resumes of the senior managers. If it consign a management consulting institution to take charge of the investment management business, it shall submit the following (1) The legal documents that regulate the organizational procedures and the acts of the management consulting institution such as its (2) The photocopies of the industrial and commercial registration documents and the business license of the management consulting institution; (3) The name list and resume of the senior managers of the management consulting institution ; and (4) The agreement on the authorized management. Article 11 After receiving an archival filing application of a business-starting investment enterprise, the administrative department shall, Chapter III The Investment Operations of Business-Starting Investment Enterprises Article 12 The business scope of a business-starting investment enterprise is limited to: (1) business-starting investment operations; (2) acting as an agent in the business-starting investment business of other business-starting investment enterprises or individuals; (3) business-starting investment consulting services; (4) providing business-starting management services for business-starting enterprises; and (5) participating in the establishment of business-starting investment enterprises and business-starting investment management consulting Article 13 No business-starting investment enterprise mustn’t engage in any guarantee business or real estate business except for the purchase Article 14 The business-starting investment enterprise may make foreign investments with all its assets, of which the investments to enterprises Article 15 The business-starting investment enterprise may, by signing an investment agreement with the investment enterprise it invests in, Article 16 The investments made by a business-starting investment enterprise into a single enterprise shall not exceed 20% of the total assets Article 17 The business-starting investment enterprise shall, in the articles of association, the agreement on authorized management and other Article 18 The business-starting investment enterprise may draw a certain proportion from the actual investment proceeds as the performance-based Article 19 The business-starting investment enterprise may determine a limited period of existence in advance, which shall not be less than Article 20 The business-starting investment enterprise may enhance its investment capacity by way of financing of creditor’s rights within the Article 21 The business-starting investment enterprise shall, according to the relevant provisions of the state on enterprise financial and Chapter IV Policy Support to Business-Starting Investment Enterprises Article 22 The state and local governments may establish business-starting investment guidance funds to support the establishment and development Article 23 The state shall adopt tax preferential policies to support the development of business-starting investment enterprises and induce Article 24 The business-starting investment enterprise may withdraw its investments by transfer of listed equities, transfer of equities by Chapter V Supervision and Administration on Business-Starting Investment Enterprises Article 25 The business-starting investment enterprise and its management consulting institution that have been archival filed at the administrative Article 26 The business-starting investment enterprise and its management consulting institution that have been archival filed at the administrative The “significant event” as mentioned in the preceding paragraph refers to: (1) revisions to the articles of association and other important legal documents; (2) increase or decrease of the capital; (3) split-up or merger, (4) change of senior managers or management consulting institutions; or (5) liquidation and termination of business. Article 27 The administrative department shall, within 5 months as of the end of each fiscal year, conduct an annual inspection on the business-starting To those who fails to conduct investment operations according to the provisions of all the articles in Chapters II and III of the Article 28 The administrative departments of all provinces (including sub-provincial cities)shall timely report the situation on the archival Article 29 The administrative department of the State Council shall intensify the guidance to the administrative departments of all provinces Article 30 The business-starting investment industry associations shall, according to the present Measures, relevant laws, rules and regulations, Chapter VI Supplementary Provisions Article 31 The present Measures shall be interpreted by the National Development and Reform Commission jointly with other relevant departments. Article 32 The present Measures shall enter into force as of March 1, 2006. |
National Development and Reform CommissionMinistry of Science and TechnologyMinistry of Finance, Ministry of Commerce,
People’s Bank of China, State Administration of Taxation, State Administration for Industry and Commerce, China Banking Regulatory
Commission, China Securities Regulatory Commission and the State Administration for Foreign Exchange
2005-11-15