20050305
The Ministry of Trade and Economic Cooperation Decree of Ministry of Foreign Trade and Economic Cooperation No. 3 The Interim Measures on the Administration of Examination and Approval of Lease Companies with Foreign Investment are hereby promulgated Shi Guangsheng, Minister of the Ministry Foreign Trade and Economic Cooperation August 14, 2001 Interim Measures on the Administration of Examination and Approval of Lease Companies with Foreign Investment Article 1 These Measures are formulated in accordance with Company Law of the People’s Republic of China, Law of the People’s Republic of China Article 2 These Measures shall apply to the lease companies with foreign investment established by a foreign company, enterprise or other economic Article 3 Lease companies with foreign investment mentioned in these Measures shall mean the lease companies engaged in the business of financial Article 4 For the establishment of lease companies with foreign investment, international advanced experiences in operating and managing lease Article 5 Lease companies with foreign investment must abide by the relevant laws and regulations of the State. The operational activities carried Article 6 A party to a joint venture who applies to establish a financial lease company shall have strong economic strength and financing capability. Article 7 When applying to establish a financial lease company, the following conditions shall be met: (1) its registered capital shall not be less than 20 million USD; (2) the investment contributed by the Chinese party shall not be less than 20% of the registered capital; (3) the operation period shall not exceed 30 years; (4) it shall have managerial personnel, and the senior managerial personnel shall have professional qualification and more than three Article 8 A party to a joint venture who applies to establish other lease company shall have strong economic strength. The total assets of the Article 9 When applying to establish other lease company, the following conditions shall be met: (1) its registered capital shall not be less than 5 million USD; (2) the investment contributed by the Chinese party shall not be less than 20% of the registered capital; (3) the operation period shall not exceed 20 years; (4) it shall have managerial personnel, and the senior managerial personnel shall have corresponding professional qualification and more Article 10 The applicant who applies to establish a lease company with foreign investment shall submit the following documents to Ministry of (1) the feasibility study report, contract and articles of association of the lease company with foreign investment, signed or recognized (2) the registration certificate (duplicate) of each party to the joint venture, identification certificate (duplicate) of the legal representative, (3) a name list of the members of the board of directors of the lease company with foreign investment planned to be established and the (4) certificates on qualifications and experience of senior managerial personnel; (5) notice on the preliminary approval of the name of the lease company with foreign investment planned to be established issued by the (6) other documents to be submitted as required by Ministry of Foreign Trade and Economic Cooperation. Article 11 A lease company with foreign investment approved to be established shall, within one month after obtaining the Enterprise with Foreign Article 12 The business scope of a financial lease company shall conform to the industrial policies of the State. The financial lease company (1) different forms of business of financial lease in home and foreign currencies such as direct lease, sublease, leaseback, leveraged (2) purchase of goods which are needed in the business of lease from home and abroad as well as their collateral technologies upon the (3) the business of selling off and disposing of scrap value of the leased properties; (4) the business of consulting and guaranty on lease transaction; (5) other business approved by Ministry of Foreign Trade and Economic Cooperation. Article 13 Where a financial lease company is to be engaged in the financial business other than that provided in Article 12 of these Measures, Article 14 The business scope of other lease company shall conform to the industrial policies of the State. The lease company may be engaged (1) the business of leasing various advanced or suitable domestic and foreign general-purpose equipment such as production equipment, (2) the business of selling off and disposing of scrap value of the leased properties; (3) other business approved by Ministry of Foreign Trade and Economic Cooperation. Article 15 Where the goods and their collateral technologies under lease which are imported by a financial lease company involve the management Article 16 In order to prevent risks and guarantee security in operation, the risk assets of a financial lease company which includes guaranty Article 17 The dissolution and liquidation of a lease company with foreign investment shall be carried out in accordance with the relevant Chinese Article 18 The Leasing Industry Committee of China Association of Enterprises with Foreign Investment is an industrial organization that practices Article 19 Where a lease company with foreign investment has any act in violation of Chinese laws or regulations, it shall be dealt with in accordance Article 20 The establishment of a lease company with foreign investment in the inland jointly by a company, enterprise or other economic organization Article 21 Ministry of Foreign Trade and Economic Cooperation shall be responsible for the interpretation of these Measures. |
The Ministry of Trade and Economic Cooperation
2001-08-14