PROVISIONS FOR SUPERVISION AND CONTROL OVER THE QUALITY OF IMPORT COMMODITIES
CIRCULAR OF THE MINISTRY OF FOREIGN ECONOMIC RELATIONS AND TRADE CONCERNING LEGAL QUESTIONS RAISED DURING THE COURSE OF OPERATING A CHINESE-FOREIGN EQUITY JOINT VENTURES
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The Ministry of Foreign Economic Relations and Trade Circular of the Ministry of Foreign Economic Relations and Trade Concerning Legal Questions Raised During the Course of Operating WaiJingMaoFaZi [1987] No.26 December 17, 1987 To the end of September 1987, 3,986 Chinese-foreign equity joint ventures have been established with the approval of the Chinese government 1. Issues concerning the replacement of a certificate of approval In implementing a contract of a Chinese-foreign equity joint venture, changes to the address of a joint equity enterprise, joint equity 2. Issues concerning whether or not the general manager or deputy general manager(s) of a Chinese-foreign equity joint venture shall The provisions of Article 40 of the Regulations for the Implementation of the Law of the People’s Republic of China on Chinese-foreign At present, some foreign general managers of some Chinese-foreign equity joint ventures are concurrently holding the post of general 3. Issues concerning the limits of authority on examination and approval of an increase of investment in Chinese-foreign equity joint An approved Chinese-foreign equity joint venture which needs to increase investment for the purposes of production and operations Matters on the above-mentioned issues concerning Chinese-foreign contractual joint venture enterprises and foreign trade enterprises |
The Ministry of Foreign Economic Relations and Trade
1987-12-17
MEASURES OF THE MINISTRY OF FOREIGN TRADE AND ECONOMIC COOPERATION FOR THE IMPLEMENTATION OF THE APPLICATION FOR IMPORT AND EXPORT LICENSES BY ENTERPRISES WITH FOREIGN INVESTMENT
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20011116
The Ministry of Foreign Trade and Economic Cooperation Measures of the Ministry of Foreign Trade and Economic Cooperation for the Implementation of the Application for Import and Export the Ministry of Economic Relations and Trade January 24, 1987 Article 1 These measures are formulated in accordance with the Regulations for the Implementation of the Law of People’s Republic of China on Article 2 The enterprises with foreign investment shall apply for import licenses for equipment and other materials which are imported as investment Article 3 The enterprises with foreign investment may import without import licenses machinery and other equipment (including those requiring Article 4 The enterprises with foreign investment which need imports for the purpose of producing goods for domestic sales and domestic business Article 5 The provincial departments of foreign economic relations and trade shall be responsible for issuing the import licenses for the non-production Article 6 Enterprises with foreign investments to export their own made products which require export licenses, shall apply for export licenses Article 7 If enterprises with foreign investment export that they produce and the exports do not need export licenses, the Chinese customs will Article 8 If enterprises with foreign investment export products which are not produced by themselves and require export licenses in order to Article 9 Enterprises with foreign investment may apply for import and export licenses to the relevant authorities in charge of issuing licenses, Article 10 These measures shall enter into force as of the date of promulgation. |
The Ministry of Foreign Trade and Economic Cooperation
1987-01-24
MEASURES FOR THE CONTROL OF SECURITY IN THE HOTEL INDUSTRY
CUSTOMS MEASURES FOR THE DECLARATION OF ARTICLES IMPORTED AND EXPORTED BY DIPLOMATIC MISSIONS AND THEIR MEMBERS IN CHINAA
REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA ON DIPLOMATIC PRIVILEGES AND IMMUNITIES
FOREIGN CAPITAL ENTERPRISES
| Category | FOREIGN ECONOMIC RELATIONS AND TECHNOLOGICAL COOPERATION | Organ of Promulgation | The National People’s Congress | Status of Effect | In Force |
| Date of Promulgation | 1986-04-12 | Effective Date | 1986-04-12 |
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Law of the People’s Republic of China on Foreign Capital Enterprises |
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(Adopted at the Fourth Session of the Sixth National People’s Congress,
promulgated by Order No. 39 of the President of the People’s Republic of China
and effective as of April 12, 1986)
Article 1 With a view to expanding economic cooperation and technical
exchange with foreign countries and promoting the development of China’s
national economy, the People’s Republic of China permits foreign enterprises,
other foreign economic organizations and individuals (hereinafter collectively
referred to as “foreign investors”) to set up enterprises with foreign capital
in China and protects the lawful rights and interests of such enterprises.
Article 2 As mentioned in this Law, “enterprises with foreign capital”
refers to those enterprises established in China by foreign investors,
exclusively with their own capital, in accordance with relevant Chinese laws.
The term does not include branches set up in China by foreign enterprises and
other foreign economic organizations.
Article 3 Enterprises with foreign capital shall be established in such a
manner as to help the development of China’s national economy; they shall use
advanced technology and equipment or market all or most of their products
outside China.
Provisions shall be made by the State Council regarding the lines of
business which the state forbids enterprises with foreign capital to engage in
or on which it places certain restrictions.
Article 4 The investments of a foreign investor in China, the profits it
earns and its other lawful rights and interests are protected by Chinese law.
Enterprises with foreign capital must abide by Chinese laws and regulations
and must not engage in any activities detrimental to China’s public interest.
Article 5 The state shall not nationalize or requisition any enterprise
with foreign capital. Under special circumstances, when public interest
requires, enterprises with foreign capital may be requisitioned by legal
procedures and appropriate compensation shall be made.
Article 6 The application to establish an enterprise with foreign capital
shall be submitted for examination and approval to the department under the
State Council which is in charge of foreign economic relations and trade, or to
another agency authorized by the State Council. The authorities in charge of
examination and approval shall, within 90 days from the date they receive such
application, decide whether or not to grant approval.
Article 7 After an application for the establishment of an enterprise with
foreign capital has been approved, the foreign investor shall, within 30 days
from the date of receiving a certificate of approval, apply to the industry and
commerce administration authorities for registration and obtain a business
licence. The date of issue of the business licence shall be the date of the
establishment of the enterprise.
Article 8 An enterprise with foreign capital which meets the conditions
for being considered a legal person under Chinese law shall acquire the status
of a Chinese legal person, in accordance with the law.
Article 9 An enterprise with foreign capital shall make investments in
China within the period approved by the authorities in charge of examination
and approval. If it fails to do so. the industry and commerce administration
authorities may cancel its business licence.
The industry and commerce administration authorities shall inspect and
supervise the investment situation of an enterprise with foreign capital.
Article 10 In the event of a separation, merger or other major change, an
enterprise with foreign capital shall report to and seek approval from the
authorities in charge of examination and approval, and register the change with
the industry and commerce administration authorities.
Article 11 The production and operating plans of enterprises with foreign
capital shall be reported to the competent authorities for the record.
Enterprises with foreign capital shall conduct their operations and
management in accordance with the approved articles of association, and shall
be free from any interference.
Article 12 When employing Chinese workers and staff, an enterprise with
foreign capital shall conclude contracts with them according to law, in which
matters concerning employment, dismissal, remuneration, welfare benefits,
labour protection and labour insurance shall be clearly prescribed.
Article 13 Workers and staff of enterprises with foreign capital may
organize trade unions in accordance with the law, in order to conduct trade
union activities and protect their lawful rights and interests.
The enterprises shall provide the necessary conditions for the activities
of the trade unions in their respective enterprises.
Article 14 An enterprise with foreign capital must set up account books in
China, conduct independent accounting, submit the fiscal reports and
statements as required and accept supervision by the financial and tax
authorities.
If an enterprise with foreign capital refuses to maintain account books in
China, the financial and tax authorities may impose a fine on it, and the
industry and commerce administration authorities may order it to suspend
operations or may revoke its business licence.
Article 15 Within the scope of the operations approved, enterprises with
foreign capital may purchase, either in China or from the world market, raw and
semi-processed materials, fuels and other materials they need. When these
materials are available from both sources on similar terms. first priority
should be given to purchases in China.
Article 16 Enterprises with foreign capital shall apply to insurance
companies in China for such kinds of insurance coverage as are needed.
Article 17 Enterprises with foreign capital shall pay taxes in accordance
with relevant state provisions for tax payment, and may enjoy preferential
treatment for reduction of or exemption from taxes.
An enterprise that reinvests its profits in China after paying the income
tax, may, in accordance with relevant state provisions, apply for refund of a
part of the income tax already paid on the reinvested amount.
Article 18 Enterprises with foreign capital shall handle their foreign
exchange transactions in accordance with the state provisions for foreign
exchange control.
Enterprises with foreign capital shall open an account with the Bank of
China or with a bank designated by the state agency exercising foreign exchange
control.
Enterprises with foreign capital shall manage to balance their own foreign
exchange receipts and payments. If, with the approval of the competent
authorities, the enterprises market their products in China and consequently
experience an imbalance in foreign exchange, the said authorities shall help
them correct the imbalance.
Article 19 The foreign investor may remit abroad profits that are lawfully
earned from an enterprise with foreign capital, as well as other lawful
earnings and any funds remaining after the enterprise is liquidated.
Wages, salaries and other legitimate income earned by foreign employees in
an enterprise with foreign capital may be remitted abroad after the payment of
individual income tax in accordance with the law.
Article 20 With respect to the period of operations of an enterprise with
foreign capital, the foreign investor shall report to and secure approval from
the authorities in charge of examination and approval. For an extension of the
period of operations, an application shall be submitted to the said authorities
180 days before the expiration of the period. The authorities in charge of
examination and approval shall, within 30 days from the date such application
is received, decide whether or not to grant the extension.
Article 21 When terminating its operations, an enterprise with foreign
capital shall promptly issue a public notice and proceed with liquidation in
accordance with legal procedure.
Pending the completion of liquidation, a foreign investor may not dispose
of the assets of the enterprise except for the purpose of liquidation.
Article 22 At the termination of operations, the enterprise with foreign
capital shall nullify its registration with the industry and commerce
administration authorities and hand in its business licence for cancellation.
Article 23 The department under the State Council which is in charge of
foreign economic relations and trade shall, in accordance with this Law,
formulate rules for its implementation, which shall go into effect after being
submitted to and approved by the State Council.
Article 24 This Law shall go into effect on the day of its promulgation.?
LAW OF THE PEOPLE’S REPUBLIC OF CHINA ON CONTROL OF THE ENTRY AND EXIT OF ALIENS
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19851122The Standing Committee of the National People’s Congress
The Standing Committee of the National People’s Congress Law of the People’s Republic of China on Control of the Entry and Exit of Aliens Order No. 31 [1985] of President November 22, 1985 (Adopted at the 13th Meeting of the Standing Committee of the Sixth National People’s Congress , Promulgated by Order No. 31 of the ContentsChapter I General Provisions Chapter II Entry into the Country Chapter III Residence Chapter IV Travel Chapter V Exit from the Country Chapter VI Administrative Organs Chapter VII Penalties Chapter VIII Supplementary Provisions Chapter I General Provisions Article 1 This Law is formulated with a view to safeguarding the sovereignty of the People’s Republic of China, maintaining its security and This Law is applicable to aliens entering, leaving and transiting the territory of the People’s Republic of China and to those residing Article 2 Aliens must obtain the permission of the competent authorities of the Chinese Government in order to enter, transit or reside in China. Article 3 For entry, exit and transit, aliens must pass through ports open to aliens or other designated ports and must be subject to inspection For entry, exit and transit, foreign-owned means of transport must pass through ports open to aliens or other designated ports and Article 4 The Chinese Government shall protect the lawful rights and interests of aliens on Chinese territory. Freedom of the person of aliens is inviolable. No alien may be arrested except with the approval or by decision of a people’s procuratorate Article 5 Aliens in China must abide by Chinese laws and may not endanger the state security of China, harm public interests or disrupt public Chapter II Entry into the Country Article 6 For entry into China, aliens shall apply for visas from Chinese diplomatic missions, consular offices or other resident agencies abroad The entry of nationals from countries having visa agreements with the Chinese Government shall be handled in accordance with those In cases where another country has special provisions for Chinese citizens entering and transiting that country, the competent authorities Visas are not required for aliens in immediate transit on connected international flights who hold passenger tickets and stay for Article 7 When applying for various kinds of visas, aliens shall present valid passports and, if necessary, provide pertinent evidence. Article 8 Aliens who have been invited or hired to work in China shall, when applying for visas, produce evidence of the invitation or employment. Article 9 Aliens desiring to reside permanently in China shall, when applying for visas, present status-of-residence identification forms. Applicants Article 10 The competent authorities of the Chinese Government shall issue appropriate visas to aliens according to the purposes stated in their Article 11 When an aircraft or a vessel navigating international routes arrives at a Chinese port, the captain or his agent must submit a passenger Article 12 Aliens who are considered a possible threat to China’s state security and public order shall not be permitted to enter China. Chapter III Residence Article 13 For residence in China, aliens must possess identification papers or residence certificates issued by the competent authorizes of The term of validity of identification papers or residence certificates shall be determined according to the purposes of entry. Aliens residing in China shall submit their certificates to the local public security organs for examination within the prescribed Article 14 Aliens who, in compliance with Chinese laws, find it necessary to establish prolonged residence in China for the purpose of investing Article 15 Aliens who seek asylum for political reasons shall be permitted to reside in China upon approval by the competent authorities of the Article 16 Aliens who fail to abide by Chinese laws may have their period of stay in China curtailed or their status of residence in China annulled Article 17 For a temporary overnight stay in China, aliens shall complete registration procedures pursuant to the relevant provisions. Article 18 Aliens holding residence certificates who wish to change their place of residence in China must complete removal formalities pursuant Article 19 Aliens who have not acquired residence certificates or who are on a study programme in China may not seek employment in China without Chapter IV Travel Article 20 Aliens who hold valid visas or residence certificates may travel to places open to aliens as designated by the Chinese Government. Article 21 Aliens desiring to travel to places closed to aliens must apply to local public security organs for travel permits. Chapter V Exit from the Country Article 22 For exit from China, aliens shall present their valid passports or other valid certificates. Article 23 Aliens belonging to any of the following categories shall not be allowed to leave China: (1) defendants in criminal cases or criminal suspects confirmed by a public security organ, a people’s procuratorate or a people’s court; (2) persons who, as notified by a people’s court, shall be denied exit owing to involvement in unresolved civil cases; and (3) persons who have committed other acts in violation of Chinese law who have not been dealt with and against whom the competent authorities Article 24 Frontier inspection offices shall have the power to stop aliens belonging to any of the following categories from leaving the country (1) holders of invalid exit certificates; (2) holders of exit certificates other than their own; and (3) holders of forged or altered exit certificates. Chapter VI Administrative Organs Article 25 China’s diplomatic missions, consular offices and other resident agencies abroad authorized by the Ministry of Foreign Affairs shall The Ministry of Public Security, its authorized local public security organs, the Ministry of Foreign Affairs and its authorized local Article 26 The authorities handling aliens’ applications for entry, transit, residence and travel shall have the power to refuse to issue visas The Ministry of Public Security and the Ministry of Foreign Affairs may, when necessary, alter decisions made by their respectively Article 27 An alien who enters or resides in China illegally may be detained for examination or be subjected to residential surveillance or deportation Article 28 While performing their duties, foreign affairs police of the public security organs at or above the county level shall have the power Chapter VII Penalties Article 29 If a person, in violation of the provisions of this Law, enters or leaves China illegally, establishes illegal residence or makes If an alien subject to a fine or detention by a public security organ refuses to accept the penalty, he may, within 15 days of receiving Article 30 In cases where a person commits any of the acts stated in Article 29 of this Law, if the circumstances are serious, the Ministry Chapter VIII Supplementary Provisions Article 31 For the purposes of this Law the term “alien” means any person not holding Chinese nationality according to the Nationality Law of Article 32 Transitory entry into and exit from China by aliens who are nationals of a country adjacent to China and who reside in areas bordering Article 33 The Ministry of Public Security and the Ministry of Foreign Affairs shall, pursuant to this Law, formulate rules for its implementation, Article 34 Affairs concerning members of foreign diplomatic missions and consular offices in the People’s Republic of China and other aliens Article 35 This Law shall enter into force as of February 1, 1986. |
The Standing Committee of the National People’s Congress
1985-11-22
REGULATIONS FOR CERTIFIED PUBLIC ACCOUNTANTS
| Category | FINANCE | Organ of Promulgation | The State Council | Status of Effect | Invalidated |
| Date of Promulgation | 1986-07-03 | Effective Date | 1986-10-01 | Date of Invalidation | 1994-01-01 |
|
Regulations of the People’s Republic of China for Certified Public Accountants |
|---|
Chapter I General Provisions
Chapter II Examination and Registration
Chapter III Scope of Services
Chapter IV Rules for Practice
Chapter V The Accounting Firm
Chapter VI Supplementary Provisions
(Promulgated by the State Council on July 3, 1986) (Editor’s Note: These
Regulations have been annulled by Law of the People’s Republic of China for
Certified Public Accountants promulgated on October 31, 1993 and effective
as of January 1, 1994)
Chapter I General Provisions
Article 1 These Regulations are formulated, in accordance with the
provisions of Article 5 and Article 20 of the Accounting Law of the People’s
Republic of China, in order to reinforce the regulation of certified public
accountants, and to bring into play the role of the certified public
accountants in social economic activities.
Article 2 Public accountants are persons approved by the State to
practise certified accounting, auditing and consultancy.
Certified public accountants shall conduct their practices independently
according to the law, and shall be protected by the law of the State.
Article 3 The working unit of certified public accountants is the
accounting firm. A certified public accountant must be with a accounting firm
before accepting an engagement to render services as precribed by the law and
regulations for certified public accountants.
Article 4 At the national level, the regulatory authority for certified
public accountants and accounting firms is the Ministry of Finance. At the
local level, the regulatory authority for certified public accountants and
accounting firms is the finance departments (bureaus) of provinces,
autonomous regions and municipalities directly under the Central Government.
Article 5 Certified public accountants may establish the association of
certified public accountants to protect their legitimate professional rights
and interests and to exchange working experience and enhance the association
between Chinese certified public accountants and their foreign counterparts.
Chapter II Examination and Registration
Article 6 The candidate applying for the permission to take the
qualification examination for certified public accountants must be a Chinese
citizen who loves the People’s Republic of China and supports the socialist
system. The candidate must be a college graduate or a person with an
equivalent academic education, and has working experience in the accounting or
auditing field for more than 3 years.
The following applicants applying for registration as a certified public
accountant, if they are satisfied with the qualification evaluation, may be
waived from examination:
(1) senior accountants; (2) accounting professors, associate professors,
research fellows, or associate research fellows who have practical accounting
experience; and (3) those with a college or equivalent education who have
worked in the financial or accounting field for more than 20 years and possess
professional accounting expertise.
Article 7 The qualification evaluation and examination of certified
public accountants shall be directed, organized and supervised on a uniform
basis by a national examination committee approved by the Ministry of Finance.
And the concrete work of such qualification evaluation and examination shall
be conducted by the examination committees which are formed with the approval
of the finance departments (bureaus) at provincial level.
The specific procedures for qualification evaluation and examination
shall be formulated by the Ministry of Finance.
Article 8 With respect to those candidates who have been satisfied with
the qualification evaluation or who have passed the examination, the
accounting firm that the aforesaid candidates intend to join shall submit the
registration application to the Ministry of Finance or to the finance
departments (bureaus) at the provincial level for approval. Certified public
accountants approved by the finance departments (bureaus) at the provincial
level shall be reported to the Ministry of Finance for the record; in the
event that the Ministry of Finance has discovered that the approval is not
proper, it shall notify the finance departments (bureaus) which have made
the approval for reexamination.
The Ministry of Finance shall uniformly make and issue the certificates
for those certified public accountants who have obtained approval for
registration.
Article 9 Where a certified public accountant leaves the accounting firm
he worked with, the accounting firm shall submit the case to the competent
finance department for approval and return his certified public accountant
certificate for cancellation; if the said accountant requests to resume his
duties as certified public accountant, he should renew his application for the
registration in accordance with the regulations.
Article 10 No staff currently working in government agencies may be
registered to practise as a certified public accountant.
Chapter III Scope of Services
Article 11 Certified public accountants shall render the following
accounting and auditing services:
(1) auditing accounting records, accounting statements and other financial
data, and issuing auditing reports;
(2) verifying the paid-in capital of enterprises, and issuing capital
verification reports;
(3) participating in the handling of liquidation affairs related to the
dissolution or bankruptcy of enterprises;
(4) participating in the conciliation of economic disputes, and assisting
in verifying evidences in economic cases; and
(5) other matters related to accounting and auditing.
Article 12 Certified public accountants shall render the following
accounting consultancy services:
(1) designing financial and accounting systems, servicing as accounting
consultants, and providing consultancy services in accounting, finance, tax,
and economic management;
(2) acting as agent for preparing and filing tax returns;
(3) acting as agent for applying for registration, and assisting in
drafting contracts, articles of association and other commercial documents;
(4) training financial and accounting personnel; and
(5) other accounting consultancy services.
Article 13 Government agencies, enterprises, institutions, and
individuals may entrust certified public accountants to conduct the services
listed in Article 11 and Article 12 of these Regulations.
When entrusting certified public accountants to provide services, the
clients shall pay fees accordingly.
Article 14 When accepting an entrustment from government agencies, the
certified public accountants entrusted shall, in light of the circumstances
of service, have the right to consult relevant financial and accounting data
and documents, inspect the sites and facilities of the business, and make
investigations and verifications by inquiring related units and individuals.
Where other clients entrust a certified public accountant to provide
services, and there is a need to consult the relevant data and documents and
carry out investigations, the matter shall be handled according to the
agreement contained in the letter of attorney executed in accordance with
the law.
Chapter IV Rules for Practice
Article 15 In performing professional work, certified public accountants
shall abide by the laws and administrative regulations of the State, and
practise according to the relevant agreements, contracts, and articles of
association.
Article 16 Certified public accountants shall scrupulously observe the
principles of fairness, objectivity, and seeking truth from facts, and be
responsible for the correctness and the legality of the contents in the
reports they issued.
Article 17 Where a certified public accountant has interested connections
with a client or with other parties concerned, he shall declare the situation
to the accounting firm and evade the case. A client or other parties concerned
shall have the right to ask for such evasion.
Article 18 A certified public accountant shall strictly keep the
confidentiality of all data and information obtained or known in the course
of practice.
Article 19 A certified public accountant shall indicate the case in the
report issued when he finds, in the course of practice, fabrication of
information, fraud for personal gain, or other violation of the laws and
administrative regulations of the State; the certified public accountant
shall reject any motion of his client to give false or improper testimony.
Article 20 In case that a certified public accountant violates the rules
for practice and gives rise to harmful results, the accounting firm shall
faithfully report the case to the competent finance department, which shall
impose one of the following penalties in the light of the seriousness of
the case:
(1) warning;
(2) imposing a fine;
(3) ceasing practice temporarily;
(4) revoking the certified public accountant certificate.
In case that a certified public accountant has violated the Criminal Law
and has constituted a crime, the violator shall be penalized by the judicial
organs according to the law.
Article 21 In case that a certified public accountant has been found
unqualified for the office, the finance department that originally approved
the registration shall cancel the registration, revoke the certified public
accountant certificate, and report the case to the Ministry of Finance for the
record.
Chapter V The Accounting Firm
Article 22 The accounting firm is an institution, established with the
approval given by the State, to engage in independently the services of the
certified public accountants in accordance with the law. The accounting firm
shall be responsible for its own income and expenditure, make an independent
accounting and pay taxes according to the law.
Article 23 The establishment of an accounting firm shall, in accordance
with the relevant provisions, be submitted to the Ministry of Finance, or to
the finance departments (bureaus) at the provincial level, for examination
and approval. The finance departments (bureaus) at the provincial level that
give approval to the establishment of a accounting firm shall report the
firm’s name, the articles of association of the firm, and the name of the
person in charge of the firm to the Ministry of Finance for the record.
The accounting firm, which has been established with approval, shall, in
accordance with the relevant provisions, go through the registration
procedures with the local administrative department for industry and
commerce, and commence its business operations only after obtaining the
business licence.
Article 24 Entrustments for providing services by certified public
accountants shall be accepted by the accounting firm on a uniform basis.
The reports issued by a certified public accountant shall be signed by the
accountant and be affixed with the official seal of the accounting firm.
The accounting firm may accept trans-regional entrustments for providing
services.
Article 25 The service charges for services rendered by certified public
accountants shall be collected by the accounting firm on a uniform basis.
The standards for the service charges shall be set jointly by the finance
departments (bureaus) at the provincial level in conjunction with other
relevant departments at the same level, and shall be submitted to the Ministry
of Finance for the record.
Article 26 The Ministry of Finance and the finance departments
(bureaus) at the provincial level shall be responsible for supervising the
business operations of the accounting firms. The accounting firm shall report
periodically to the competent finance department on matters such as its
business developments, income and expenditure, and personnel changes.
Article 27 In cases that a accounting firm has violated the provisions
of these Regulations, the competent finance department may, in the light
of the seriousness of the case, impose penalties ranging from a warning, a
fine, cease of practice for rectification, to an order to disband the said
accounting firm.
Article 28 In the course of auditing accounts, with respect to the
client’s financial receipts and payments incurred abroad, the accounting firm
may reentrust the case with a foreign accounting firm which has established a
resident representative office in China to conduct auditing on the spot and to
present a relevant testimony.
Chapter VI Supplementary Provisions
Article 29 The Ministry of Finance shall be responsible for the
interpretation of these Regulations; the measures for the implementation shall
be formulated by the Ministry of Finance.
Article 30 These Regulations shall become effective as of October 1, 1986.
REGULATIONS OF THE STATE COUNCIL CONCERNING THE BALANCE OF FOREIGN EXCHANGE INCOME AND EXPENDITURE OF CHINESE-FOREIGN EQUITY JOINT VENTURES
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20011006
The State Council Regulations of the State Council Concerning the Balance of Foreign Exchange Income and Expenditure of Chinese-foreign Equity Joint the State Council January 15, 1986 Article 1 These Regulations are formulated for the purpose of encouraging foreign joint venturers to establish in China Chinese-foreign equity Article 2 Chinese-foreign joint equity ventures should maximise the export of their products and the generation of foreign exchange in order Article 3 Where it is necessary to adjust the foreign exchange income and expenditure of Chinese-foreign equity joint ventures approved and In the case of a Chinese-foreign joint equity venture established with the approval of central administering authorities, these authorities Article 4 In the case of sophisticated products produced with advanced or key technology provided by the foreign joint venture, or of internationally The foreign exchange balance plans for the enterprises referred to in the preceding Article shall be formulated, in accordance with Article 5 Products of Chinese-foreign joint equity ventures which China needs to import on a long-term or urgent basis may, depending on requirements The departments of foreign economic relations and trade shall actively support domestic end-users in concluding purchase and sales Article 6 In order to achieve a balance of foreign exchange income and expenditure, Chinese-foreign equity joint ventures may, with the approval Article 7 Where a Chinese-foreign joint equity venture does not fulfil stipulated contractual obligations for exports and generation of foreign Article 8 In selling products to enterprises which are outside the special economic zones and the economic and technological development zones Article 9 Where one foreign joint venturer establishes two or more joint ventures in China (including where these are in different locations Such adjustment must be agreed to by all parties to the joint venture. Article 10 With the approval of the foreign economic relations and trade departments and the foreign exchange control departments, a Chinese-foreign Article 11 These Regulations shall apply to Chinese-foreign equity joint ventures established in China and to the Chinese-foreign contractual The Regulations shall not apply to financial or insurance enterprises established in China by foreign joint venturers or joint venturers Article 12 In the case of any conflict with any other regulations relating to the foreign exchange balance of Chinese-foreign equity joint ventures Article 13 The Ministry of Foreign Economic Relations and Trade shall be responsible for the interpretation of these Regulations. Article 14 These Regulations shall come into force on February 1, 1986. |
The State Council
1986-01-15
CONSTITUTION ACT, 1982 – page 22
