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The State General Bureau of Radio, Film and Television, the Ministry of Foreign Trade and Economic Cooperation and the Ministry of Decree of the State General Bureau of Radio, Film and Television, the Ministry of Foreign Trade and Economic Cooperation and the Ministry No.3 “The Interim Provisions Concerning Foreign-Invested Cinemas” is promulgated and shall come into force as of the date of promulgation. Xu Guangchun, General Director of the State General Bureau of Radio, Film and Television Shi Guangsheng, Minister of the Ministry of Foreign Trade and Economic Cooperation Sun Jiazheng, Minister of the Ministry of Culture October 25, 2000 Interim Provisions Concerning Foreign-invested Cinemas Article 1 . These provisions have been formulated according to relevant such as the Law of the People’s Republic of China on Chinese-Foreign Equity Article 2 . These provisions apply to the establishment of Chinese-foreign equity joint venture and Chinese-foreign cooperative joint venture, Article 3 . No cinema is allowed to be solely funded by foreign investors. Article 4 . The establishment of foreign-invested cinemas shall conform to the following conditions: 1. It shall conform to the layout and planning of the local cultural facilities; 2. The registered capital shall be no less than RMB10 million; 3. It shall have a fixed location of business for film projection; 4. The Chinese-foreign equity joint venture cinemas or cooperative joint venture cinemas shall not be named as foreign film and television 5. The ratio of investment of a Chinese party to a Chinese-foreign equity joint cinema shall not be less than 51 percent; decision-making 6. The period of joint investment and cooperation shall not be more than 30 years; 7. It shall conform to relevant Chinese laws, administrative regulations or other stipulations. Article 5 . If a Chinese party to a joint venture cinema invests with state-owned assets (except cash investment), it shall make an evaluation Article 6 . The establishment of foreign-invested cinemas shall undertake the following procedures of reporting and approval: 1. The Chinese party shall file an application with the provincial authorities in charge of trade and economic cooperation where the (1) The written application for the project to establish foreign-invested cinemas; (2) The Chinese party’s business license as an enterprise with legal person status, certificate of the right to use the site of the cinema, (3) Foreign investor’s business license, certificate of creditworthiness, and financial statements issued by an accounting firm. (4) The designated names of the foreign-invested cinemas preliminarily approved by the administrative authorities in charge of industry (5) The feasibility study report, contract and articles of association; (6) Other documents required to be provided in accordance with laws and regulations or by the authorities in charge of examination and 2. After the provincial administrative department in charge of foreign trade and economic cooperation in charge of the site consults 3. The foreign-invested cinemas shall, within one month as of the receipt of the approval certificate, register the certificate with 4. After completing construction and renovation of the cinema, the foreign-invested cinemas shall be checked and approved by the relevant Article 7 . If the established foreign-invested cinemas change their stock rights and the total amount of investment, they shall handle these Article 8 . Foreign-invested cinemas shall abide by the relevant State laws and regulations, conduct business in accordance with the Provisions Article 9 . If foreign-invested cinemas conduct other entertainment services, they must abide by the relevant State regulations. Article 10 . The construction and renovation of cinemas, or film projections by investors from the Hong Kong Special Administrative Region, Macao Article 11 . These provisions shall come into force as of the date of the promulgation. |
The State General Bureau of Radio, Film and Television, the Ministry of Foreign Trade and Economic Cooperation and
the Ministry of Culture
2000-10-25