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REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON LABOUR MANAGEMENT IN JOINT VENTURES USING CHINESE AND FOREIGN INVESTMENT

RULES FOR THE IMPLEMENTATION OF THE INDIVIDUAL INCOME TAX LAW OF THE PEOPLE’S REPUBLIC OF CHINA

DECISION OF THE STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS REGARDING APPROVAL OF CASES INVOLVING THE DEATH SENTENCE

CONSTITUTION OF THE PEOPLE’S REPUBLIC OF CHINA 1982

CIVIL PROCEDURE LAW OF THE PEOPLE’S REPUBLIC OF CHINA

DECISION OF THE STANDING COMMITTEE OF THE NATIONAL PEOPLE’S CONGRESS APPROVING THE OPENING OF PORT NANTONG AND PORT ZHANGJIA ON THE YANGTZE RIVER TO VESSELS OF FOREIGN NATIONALITIES

Category  COMMUNICATIONS AND TRANSPORT Organ of Promulgation  The Standing Committee of the National People’s Congress Status of Effect  In Force
Date of Promulgation  1982-11-19 Effective Date  1982-11-19  


Decision of the Standing Committee of the National People’s Congress Approving the Opening of Port Nantong and Port Zhangjia on the
Yangtze River to Vessels of Foreign Nationalities

(Adopted on November 19, 1982)

    Having considered the proposal submitted for approval by the State
Council on the opening of Port Nantong and Port Zhangjia on the Yangtze
River to vessels of foreign nationalities, the 25th Meeting of the Standing
Committee of the Fifth National People’s Congress hereby decides to approve
the opening of Port Nantong and Port Zhangjia on the Yangtze River to
vessels of foreign nationalities.





RULES FOR THE IMPLEMENTATION OF FOREIGN EXCHANGE CONTROL REGULATIONS RELATING TO ENTERPRISES WITH OVERSEAS CHINESE CAPITAL, FOREIGN-CAPITAL ENTERPRISES AND CHINESE-FOREIGN EQUITY JOINT VENTURES

Category  BANKING Organ of Promulgation  The State Council Status of Effect  Invalidated
Date of Promulgation  1983-08-01 Effective Date  1983-08-01 Date of Invalidation  1996-04-01


Rules for the Implementation of Foreign Exchange Control Regulations Relating to Enterprises With Overseas Chinese Capital, Foreign-capital
Enterprises and Chinese-foreign Equity Joint Ventures



(Approved by the State Council of the People’s Republic of China on July

19, 1983 and promulgated by the State Administration of Foreign Exchange
Control on August 1, 1983)(Editor’s Note: These Rules have been annulled
by Regulations of the People’s Republic of China on Foreige Exchange Control
promulgated on January 29, 1996 and effective as of April 1, 1996)

    Article 1  These Rules are formulated for implementing the provisions of
Chapter V of the Interim Regulations on Foreign Exchange Control of the
People’s Republic of China.

    Article 2  In Chapter V of The Interim Regulations on Foreign Exchange
Control of the People’s Republic of China, the term “enterprises with overseas
Chinese capital” refers to corporations, enterprises or other economic
entities registered in China with overseas Chinese capital or capital of
compatriots in the Hong Kong and Macao regions, and managed independently or
jointly with Chinese enterprises; the term “foreign-capital enterprises”
refers to corporations, enterprises or other economic entities registered in
China with foreign capital, and managed independently or jointly with Chinese
enterprises; the term “Chinese-foreign equity joint ventures” refers to
enterprises jointly established, owned and run in China by corporations,
enterprises, other economic entities or individuals with overseas Chinese
capital, capital of compatriots in the Hong Kong and Macao regions or foreign
capital and Chinese corporations, enterprises or other economic entities.

    Article 3  For all foreign exchange receipts and payments, enterprises
with overseas Chinese capital, foreign-capital enterprises and Chinese-foreign
equity joint ventures must act in accordance with the provisions in the
Interim Regulations on Foreign Exchange Control of the People’s Republic of
China as well as these Rules.

    Article 4  Enterprises with overseas Chinese capital, foreign-capital
enterprises and Chinese-foreign equity joint ventures shall open Renminbi
deposit accounts and foreign exchange deposit accounts in China with the Bank
of China or its branch banks or any other banks approved by the State
Administration of Foreign Exchange Control (SAFEC) or its branch offices,
payments and receipts in these accounts being subject to the supervision of
the bank with which the enterprises have established accounts. When applying
for the opening of the accounts, the enterprises shall submit for verification
their business licenses issued by the State Administration for Industry and
Commerce of the People’s Republic of China.

    Article 5  The exploration fund and the fund for cooperative development
and cooperative production provided unilaterally by a foreign-capital
enterprise engaged in cooperative exploitation of offshore petroleum resources
in China are permitted to be deposited with the agreement of the Chinese side
in a bank, of a foreign country or of the Hong Kong or Macao region.

    Article 6  Should they find it necessary to open foreign exchange deposit
accounts with banks abroad or in the Hong Kong and Macao regions other than
the accounts opened in accordance with Article 5 of these Rules, enterprises
with overseas Chinese capital, foreign-capital enterprises and Chinese-foreign
equity joint ventures shall apply to SAFEC or its branch offices for approval.
The enterprises concerned shall submit to SAFEC or its branch offices
quarterly statements of payments into and withdrawal from such accounts within
30 days as of the end of each and every quarter.

    Article 7  All foreign exchange receipts of enterprises maintaining
foreign exchange accounts with banks in China in accordance with Article 4 of
these Rules, must be deposited in the said accounts and all their foreign
exchange disbursements incurred in normal business operations can be effected
through these accounts.

    Article 8  For the implementation of the petroleum operations specified in
their contracts, the foreign-capital enterprises engaged in cooperative
exploitation of offshore petroleum resources may pay directly outside China
wages, salaries, cost of procurements, various labour costs and service
charges to foreign workers and staff members, foreign subcontractors and
suppliers. The foreign workers and staff members and foreign subcontractors
shall pay taxes on their income derived from China in accordance with the
provisions of the tax law of the People’s Republic of China.

    Article 9  Enterprises with overseas Chinese capital, foreign-capital
enterprises and Chinese-foreign equity joint ventures shall submit within the
prescribed time limit to the SAFEC or its branch offices the following
statements with explanatory notes in detail:

    (1) Balance sheet as of December 31 of the previous year, profit and loss
statement and statement of receipts and payments of foreign exchange for the
previous year shall be submitted before March 31 of each year, along with
audit reports by accountants registered in the People’s Republic of China.

    (2) Budget of foreign exchange receipts and payments for the coming year
shall be submitted before December 1 of each year (subsequent amendments, if
any, shall be reported immediately).

    The SAFEC and its branch offices are authorized to request the enterprises
with overseas Chinese capital, foreign-capital enterprises and Chinese-foreign
equity joint ventures to provide information about their business activities
involving foreign exchange, and to check on their foreign exchange incomes and
expenditures.

    Article 10  Any currency conversion of enterprises with overseas Chinese
capital, foreign-capital enterprises and Chinese-foreign equity joint ventures
must be conducted according to the official rates of foreign exchange quoted
by the SAFEC; the export of the products of these enterprises may be dealt
with in accordance with the relevant provisions governing China’s foreign
trade exchange conversions.

    Article 11  Except where otherwise approved by the SAFEC or its branch
offices, the foreign exchange receipts realized from exports by the
enterprises with overseas Chinese capital, foreign-capital enterprises and
Chinese-foreign equity joint ventures shall be transferred back and credited
to their foreign exchange deposit accounts with banks in China and the
enterprises shall also go through the procedure of cancelling their
commitments for foreign exchange receipts from these exports.

    Article 12  Renminbi shall be used in the settlement of accounts between
enterprises with overseas Chinese capital, foreign-capital enterprises or
Chinese-foreign equity joint ventures on the one hand, and agencies,
enterprises (including enterprises with overseas Chinese capital,
foreign-capital enterprises, Chinese-foreign equity joint ventures), or
individuals in China on the other, except in the following cases:

    (1) For products manufactured by these enterprises and sold to Chinese
entities or enterprises engaged in foreign trade which would otherwise have
to import, foreign currencies may be used in pricing and in settlement of
accounts, provided that prior approval by Chinese foreign trade authorities
has been obtained and that agreement on this arrangement has been reached
between seller and buyer; the prices of the products may be such as to be
commensurate with those current in world markets.

    (2) If enterprises with overseas Chinese capital, foreign-capital
enterprises and Chinese-foreign equity joint ventures purchase, for the sake
of production, the commodities to be exported or imported by Chinese entities
engaged in foreign trade, foreign currencies may be used in pricing the said
commodities with reference to those current in world markets and in settlement
of accounts, with prior approval of Chinese foreign trade authorities and
arrangement between seller and buyer.

    (3) Foreign currencies may be used in pricing and in the settlement of
accounts related to construction work performed by Chinese construction
entities according to contracts, provided that prior approval from the SAFEC
or its branch offices has been obtained.

    (4) Other items which can be priced and settled in foreign currencies
are prescribed by the State Council or approved by the SAFEC or its branch
offices.

    For all transactions which can be priced and settled in foreign currencies
as approved, the receipts and payments may be made through foreign exchange
deposit accounts.

    Article 13  Overseas Chinese investors of enterprises with overseas
Chinese capital or foreign investors of foreign-capital enterprises or of
Chinese-foreign equity joint ventures may apply to the banks with which they
have opened accounts for remitting abroad their profits as well as other
justified earnings after taxation, by debiting the foreign exchange deposit
accounts of the enterprise concerned. At the time of application, the
investors concerned shall submit for examination the written decision on
profit distribution adopted by the board of directors or by another organ of
power equivalent to the board of directors, documentary evidence showing that
all taxes have been duly paid as well as the contracts containing stipulations
with regard to the distribution of profits or earnings.

    Overseas Chinese investors of enterprises with overseas Chinese capital
or foreign investors of foreign-capital enterprises or of Chinese-foreign
equity joint ventures shall apply to the SAFEC or its branch offices for
transferring their foreign exchange capital abroad by debiting the foreign
exchange deposit accounts of the enterprises concerned.

    Article 14  Enterprises with overseas Chinese capital, foreign-capital
enterprises and Chinese-foreign equity joint ventures engaged in cooperative
exploitation of such resources as offshore petroleum and coal, and in other
contractual or equity joint ventures, whose capital is to be recovered and
profits to be realized in kind as stipulated in their contracts, may transport
out of China the products as their shares of recovered capital and realized
profits, but such enterprises shall remit back the amount of tax to be paid in
the People’s Republic of China as well as other required payments. If the
products are to be sold within China, the case shall be handled in accordance
with provisions of Article 12 of these Rules, and the foreign exchange
proceeds derived from these sales may be remitted out after taxation and other
required payments.

    Article 15  Staff members and workers of foreign nationality and those
from the Hong Kong and Macao regions employed by enterprises with overseas
Chinese capital, foreign-capital enterprises and Chinese-foreign equity joint
ventures may remit abroad their wages and other justified earnings, after
taxation according to law, and if the remittance exceeds 50% of their wages
and other earnings, they may apply to the SAFEC or its branch offices. The
amounts remitted shall all be debited to the foreign exchange deposit accounts
of the enterprises concerned.

    Article 16  Foreign exchange expenses required in the normal business
operations of the branches or offices abroad or in the Hong Kong and Macao
regions set up with the approval of competent authorities by enterprises with
overseas Chinese capital, foreign-capital enterprises and Chinese-foreign
equity joint ventures may be remitted to these branches or offices, debiting
to the foreign exchange deposit accounts of the enterprises concerned, with
the approval of the SAFEC or its branch offices.

    Article 17  Enterprises with overseas Chinese capital, foreign-capital
enterprises and Chinese-foreign equity joint ventures may borrow foreign
exchange directly from banks or enterprises of foreign countries or of the
Hong Kong and Macao regions, but they must report such borrowing to the SAFEC
or its branch offices for the record.

    Article 18  Enterprises with overseas Chinese capital, foreign-capital
enterprises and Chinese-foreign equity joint ventures winding up operations
in accordance with legal procedures, shall carry out liquidation within the
scheduled period, under the joint supervision of China’s finance, taxation
and foreign exchange control authorities. Overseas Chinese investors or
foreign investors shall be responsible for their taxes due and their
outstanding liabilities within China. After completion of the liquidation,
overseas Chinese investors and foreign investors may apply to the SAFEC or its
branch offices for remitting out the funds owned by or distributed to them.
And the remittance shall be debited to the foreign exchange accounts
of the liquidated enterprises.

    Article 19  The measures to control foreign exchange receipts and payments
of banks with overseas Chinese capital, banks with foreign capital,
Chinese-foreign equity joint banks and other financial institutions shall be
formulated by the SAFEC separately.

    Article 20  These Rules shall be promulgated and put into effect by the
SAFEC upon approval of the State Council.





REGULATIONS ON THE ADMINISTRATION OF THE REGISTRATION OF ENTERPRISES IN THE XIAMEN SPECIAL ECONOMIC ZONE

Regulations on the Administration of the Registration of Enterprises in the Xiamen Special Economic Zone

    

(Effective Date 1984.07.14)

   Article 1. These Regulations are formulated in accordance with the relevant laws and statutory regulations of the People’s Republic
of China.

   Article 2. Enterprises established in the Special Zone must carry out registration procedures with the Xiamen Municipal Industry
and Commerce Administration Bureau. Any enterprise which is not registered will not be permitted to go into operation.

   Article 3. In applying for registration, a Special Zone enterprise shall produce the following documents:

(i) a document of approval issued by the Xiamen Municipal People’s Government or the organ in charge authorised
by the Municipal People’s Government;

(ii) copies of the approved agreement, contract and articles of association signed by the various parties to the enterprises;

(iii) copies of the business licence or other relevant documents issued by the government department in charge in
the country (or region) in which each of the parties to the enterprise is based.

A Special Zone enterprise shall also submit the approval document issued by the relevant department in charge should
its undertaking be classified by the State as a specialised line of business or trade.

   Article 4. In applying for registration, a Special Zone enterprise shall fill out a registration form in triplicate in Chinese
or in both Chinese and foreign languages. The main items to be registered are: the name of the enterprise, the address,
the scope of production or business, the form of production or business, the registered capital, the shares of the respective
joint equity or co-operative parties, or the chairman and vice-chairmen of the board of directors, the general manager
and deputy general manager, or the director and deputy directors of the factory, the number of employees, the number
of foreign employees, the document approving organ, the approval document’s number and date of approval.

   Article 5. Resident representative offices to be established in the Special Zone by foreign enterprises, enterprises run by
Overseas Chinese, or persons from Hong Kong, Macao and Taiwan, and Sino-foreign joint ventures based outside China
shall, within 30 days of the date of approval, register with the Xiamen Municipal Industry and Commerce Administration
Bureau by presenting copies of the approval document and the registration certificate issued by the organ in charge
in the country (or region) in which the enterprise is located or other evidence of credit-worthiness, together with the
representative’s letter of authorisation. Without registration, a resident office will not be permitted to engage
in business activities.

   Article 6. Special Zone enterprises and resident offices are deemed to be officially established on the day on which their business
licence or registration certificate is obtained. Their proper business activities and legitimate rights and interests
are protected by the law of the People’s Republic of China.

   Article 7. A Special Zone enterprise or resident office, shall present its business licence or registration certificate for opening
an account with a bank established in the Xiamen Special Zone and register with the Xiamen Municipal Taxation Bureau
for taxation purposes.

   Article 8. When a Special Zone enterprise changes its name or location, its line of production, increases, decreases or transfers its
registered capital, changes the scope of its production or business, or extends the duration of its contract, the
enterprise shall register the change with the Xiamen Municipal Industry and Commerce Administration Bureau within 30
days of the change being approved by the original examining and approval organ. In the event of the replacement of
an enterprise’s chairman or general manager, the enterprise shall register the change within seven days of the decision
of the board of directors. The registration of other changes shall be submitted in writing to the Xiamen Municipal
Industry and Commerce Administration Bureau at the end of each year.

   Article 9. The registration certificate for a resident office will be renewed every year. When changing the name of the resident
office, the resident representative(s), the scope of operations, the location of the resident office and the
term of residency, the registration of the same shall be made by producing the approval document to the Xiamen Municipal
Industry and Commerce Administration Bureau within seven day of the changes being approved by the original approval organ.

   Article 10. When applying for registration or the registration of changes, Special Zone enterprises or resident offices shall
pay the fee for registration or the registration of changes in accordance with regulations.

   Article 11. Upon the expiry of the term of operations or residency period, or upon the approved pre-term closure or termination of
business, a Special Zone enterprise or resident office shall undertake the cancellation of registration, and hand
in for cancellation the business licence or registration certificate with the Xiamen Municipal Industry and Commerce
Administration Bureau.

   Article 12. The Xiamen Municipal Industry and Commerce Administration Bureau shall examine, verify and give an official reply
to Special Zone enterprises or resident offices, within seven days of receiving the various documents from the enterprises
or offices concerning registration or the registration of changes.

   Article 13. The Xiamen Municipal Industry and Commerce Administration Bureau supervises and inspects Special Zone enterprises
and resident offices in accordance with the law. In the case of violation of these Regulations, the enterprise
or resident office concerned shall, on the basis of the seriousness of each specific case, be given a warning, a fine,
be ordered to suspend operations, or have is business licence or registration certificate revoked. In the case
of suspension of operations or revocation of the business licence or registration certificate, the matter must be
reported to the Xiamen Municipal People’s Government for examination and approval and be filed with the Industry
and Commerce Administration Bureau.

   Article 14. These Regulations will be effective from the date fo promulgation.

    





CUSTOMS RULES OF THE PEOPLE’S REPUBLIC OF CHINA ON THE IMPORT OF LEGACIES

PROVISIONS OF THE MINISTRY OF FOREIGN ECONOMIC RELATIONS AND TRADE, THE STATE ADMINISTRATION FOR INDUSTRY AND COMMERCE CONCERNING THE INVESTMENTS MADE BY THE VARIOUS PARTIES OF CHINESE-FOREIGN EQUITY JOINT VENTURES

19871230the State Council

The Ministry of Foreign Economic Relations and Trade, the State Administration for Industry and Commerce

Provisions of the Ministry of Foreign Economic Relations and Trade, the State Administration for Industry and Commerce Concerning
the Investments Made by the Various Parties of Chinese-foreign Equity Joint Ventures

January 1,1988

(Approved by the State Council on December 30, 1987, Promulgated by the Ministry of Foreign Economic Relations and Trade and the State
Administration for Industry and Commerce on January 1, 1988)

Article 1

These Provisions are formulated in accordance with the Law of the People’s Republic of China on Chinese-Foreign Equity Joint Ventures
and other pertinent laws and regulations in order to protect the lawful rights and interests of the various parties to Chinese-foreign
equity joint ventures (hereinafter referred to as the “joint ventures”), and to maintain the social economic order.

Article 2

The investments contributed by the various parties to a joint venture in accordance with the stipulations of the contract of the said
joint venture must be the cash owned by the parties themselves as well as the physical goods, the industrial property rights, the
proprietary technology and etc. that are owned by the parties themselves and have not been used to establish any security interests.

In cases where physical goods, industrial property rights and proprietary technology are used as investments at the evaluated price,
the investor shall present valid documents attesting their proprietary rights and their right of disposal.

Article 3

No party to a joint venture may use the loans, rented equipment or other assets it has obtained in the name of the joint venture,
or the assets of persons other than the parties as its own investment contribution to the joint venture; nor may it use the assets
or rights and interests of the joint venture, or the assets or rights and interests of the other parties to the joint venture as
the warranty for its investment contribution to the joint venture.

Article 4

The various parties to a joint venture shall set the time limit in their joint venture contract for paying up their respective investment
contributions to the joint venture, and they shall pay fully their respective investment contributions within the time limit stipulated
in the joint venture contract. The investment contribution certificates issued by the joint venture in accordance with the pertinent
stipulations shall be submitted to the original examining and approving authorities and the relevant administrative department for
industry and commerce for the record.

If the joint venture contract stipulates that investment contributions shall be paid up in one lump, the various parties to the said
joint venture shall make the full payment of their respective investment contributions within six months from the date the business
licence is signed and issued.

If the joint venture contract stipulates that investments shall be paid by installments, the first installment paid by the various
parties shall not be less than 15% of the total amount of their respective investment contributions and be paid within three months
as of the date the business licence is signed and issued.

Article 5

In the event that the various parties to a joint venture fail to make the full payment of their respective investment contributions
within the time limit prescribed in Article 4 , the joint venture shall be considered to be dissolved of its own accord, and the
approval certificate for the joint venture shall automatically cease to be effective. The joint venture shall go through the procedures
for cancellation of registration with the administrative department for industry and commerce, and hand in its business licence for
cancellation; if a joint venture fails to go through the procedures for cancellation of registration or to hand in its business licence
for cancellation, the administrative department for industry and commerce shall revoke its business licence and announce this publicly.

Article 6

After the various parties to a joint venture have paid the first installment of their respective investment contributions, if they
fail to pay or to pay fully any of the remaining installments three months beyond the deadline as stipulated in the joint venture
contract, the administrative department for industry and commerce shall, in conjunction with the original examining and approving
authorities, issue a notice to the various parties to the said joint venture, enjoining them to pay the full amount due within one
month. In the event that the various parties to the said joint venture still fail to make the full payment of their respective investment
contributions in accordance with the time limit prescribed in the notice mentioned in the preceding paragraph, the original examining
and approving authorities have the right to revoke the approval certificate for the said joint venture. After the approval certificate
has been revoked, the said joint venture shall go through the procedures for cancellation of registration with the administrative
department for industry and commerce, hand in its business licence for cancellation, and settle claims and debts. If it fails to
go through the procedures for cancellation of registration or to hand in its business licence for cancellation, the administrative
department for industry and commerce has the right to revoke its business licence and to announce this publicly.

Article 7

The failure of one of the parties to a joint venture to make the payment, or the full payment, of its investment contribution on time
in accordance with the stipulations of the joint venture contract constitutes a breach of the contract. The observant party (parties)
shall urge the defaulting party to make the payment, or the full payment, of its investment contribution within one month. If the
defaulting party still fails to do so before the deadline, this shall be considered as the abandonment by the defaulting party of
all its rights as stipulated in the joint venture contract and its withdrawal from the joint venture of its own accord. The observant
party (parties) shall, within one month from the date when the defaulting party’s prescribed payment is overdue, make an application
to the original examining and approving authorities for the approval to dissolve the said joint venture, or for the approval to find
another joint venture party to assume the defaulting party’s rights and obligations as stipulated in the joint venture contract.
The observant party (parties) may, according to law, claim compensation from the defaulting party for the economic losses caused
by the latter’s failure to make the payment, or the full payment, of its investment contribution.

If the defaulting party mentioned in the preceding paragraph has paid part of its prescribed investment contribution, this part of
investment payment shall be liquidated by the joint venture.

In the event that the observant party (parties) fails (fail) to make an application to the original examining and approving authorities,
in accordance with the provisions of the first paragraph of this Article, for the approval to dissolve the joint venture, or for
the approval to find another joint venture party, the examining and approving authorities have the right to revoke the approval certificate
issued to that joint venture. After the approval certificate has been revoked, the said joint venture shall go through the procedures
for cancellation of registration with the administrative department for industry and commerce, and hand in its business licence for
cancellation; if it fails to go through the procedures for registration cancellation or to hand in its business licence for cancellation,
the administrative department for industry and commerce has the right to revoke its business licence and to announce this publicly.

Article 8

With respect to any joint venture which obtained its business licence before the date these Provisions become effective, if the various
parties or any one of these parties have (has) failed to make the payment of the respective investment contributions in accordance
with the time limits stipulated in the joint venture contract, they (it) shall, within two months as of the date these Provisions
become effective, make the full payment of the prescribed investment contributions in accordance with the provisions of the contract.

In the event that the various parties or any one of the parties still fail(s) to make the full payment of the respective investment
contributions within the time limit prescribed in the preceding paragraph, the case may be handled in accordance with the provisions
in Article 5 through Article 7 of these Provisions.

Article 9

With respect to any joint venture which obtained its business licence before the date these Provisions become effective, if the various
parties to that joint venture have not stipulated in their joint venture contract the respective time limits for making their respective
investment contributions, and they have not made the full payment, the various parties shall, within two months as of the date these
Provisions become effective and in accordance with these Provisions, conclude and sign a supplementary agreement to their joint venture
contract prescribing the time limits for the various parties to the joint venture to make the payment of their respective investment
contributions, and submit this supplementary agreement to the original examining and approving authorities for examination and approval;
after they have obtained the approval, they shall submit their case to the administrative department for industry and commerce for
the record.

In the event that a joint venture mentioned in the preceding paragraph fails to establish itself or to start its operations after
six full months since the date of the issuance of its business licence owing to the failure of its various parties to conclude and
sign a supplementary agreement to their joint venture contract within two month prescribed in the preceding paragraph, prescribing
the time limits for making their respective investment payments, and the failure to pay full their respective investment contributions,
the original examining and approving authorities have the right to revoke the approval certificate issued to that joint venture.
After the approval certificate has been revoked, the said joint venture shall go through the procedures for cancellation of registration
with the administrative department for industry and commerce, and hand in its business licence for cancellation. If the said joint
venture fails to go through the procedures for cancellation of registration or to hand in its business licence for cancellation,
the administrative department for industry and commerce has the right to revoke its business licence and to announce this publicly.

Article 10

The investment payment made by the various parties to a Chinese-foreign contractual joint venture shall be handled with reference
to these Provisions.

Article 11

These Provisions shall enter into force as of March 1, 1988.



 
The Ministry of Foreign Economic Relations and Trade, the State Administration for Industry and Commerce
1988-01-01

 






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CONSTITUTION ACT, 1982 – page 22

NOTES (1) The enacting clause was repealed by the Statute Law Revision Act, 1893, 56-57 Vict., c. 14 (U.K.). It read as...

CONSTITUTION ACT, 1982 – page 21

CONSTITUTION ACT, 1982 – page 20

CONSTITUTION ACT, 1982 – page 19

CONSTITUTION ACT, 1982 – page 18

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