设立合资企业的法律意见Word格式.doc

设立合资企业的法律意见Word格式.doc

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ThisoutlinecontainsonlyabriefsummaryofcertainaspectsofChineselawandpracticethatmaybepertinenttoestablishingaSino-foreignjointventureinthePeople'

sRepublicofChina（"

PRC"

）.Thisoutlineisnotintendedtoaddressallpossibleissuesthatmayariseinconnectionwiththestructuringofyourproposedjointventureproject.

2.GeneralIssues

2.1GuidanceCatalogue

TheinitialstartingpointforanalysisofforeigninvestmentprojectsinChinaistheForeignInvestmentIndustrialGuidanceCatalogue（“Catalogue”）,whichisupdatedfromtimetotime.ThemostrecenteditionoftheCataloguetookeffecton1January2005.TheCataloguegroupsforeigninvestmentprojectsinspecificindustriesandsectorsinthefollowingcategories:

"

encouraged"

"

restricted"

and"

prohibited"

.AnyforeigninvestmentprojectnotincludedintheCatalogueisdeemedtobeinthe"

permitted"

category.Differentapprovalrequirementsapplydependingontheclassificationoftheproject.

TheCataloguealsoindicateswhethertherearelimitationsontheforeignownershippercentageinaproject,e.g.projectsinwhich100%ormajorityforeignownershiparenotpermitted.Generallyspeaking,unlessexpresslyprovidedtothecontraryintheCatalogue（e.g.theChinesepartymustholdacontrollinginterest）,orwhereforeignequityinterestsarerestrictedbylaworgovernmentpolicy,thepartiestoajointventureinChinaarefreetodeterminetheirrespectiveequityinterestsinaChinajointventure.

2.2GovernmentApprovals

Approvallevelsforforeigninvestmentprojectsalsodependonthetotalinvestmentamount.（Thetotalinvestmentamountisthesumoftheregisteredcapital（equity）andthepermittedlevelofborrowings（debt）.Theratioofregisteredcapitaltototalinvestmentisprescribedbylaw.Pleaseseeparagraph3.2（b）belowformoredetailedinformation.）

TheStateCouncilDecisionontheReformoftheInvestmentSystemissuedon16July2004（the"

StateCouncilDecision"

）wasdirectedatboththeChinesedomesticandforeigninvestmentprojects.Itgenerallyabolishesthesystemforapprovalofinvestmentprojects（asopposedtotheapprovaloftheestablishmentofforeigninvestmententerprises（"

FIEs"

））butrequiresmajor,orrestricted,projectstobesubjecttothesystemofratificationorfiling.

BasedontherulesissuedbytheNationalDevelopmentandReformCommission（"

NDRC"

）,entitledtheAdministrationoftheRatificationofForeign–investedProjectseffectiveasof9October2004（the"

NDRCRatificationProcedures"

）,NDRChasaremitforapproving（atthepreliminaryprojectapplicationstage）Sino-foreignequityjointventures（"

EJVs"

）,cooperativejointventures（"

CJVs"

）andwhollyforeign-ownedenterprises（"

WFOEs"

）,mergersandacquisitionsofdomesticenterprisesbyforeignentitiesandcapitalincreasesbyFIEs.Asapracticalmatter,whetherNDRCapprovalofaprojectisrequiredisacasebycaseanalysis,astheNDRCRatificationProceduresprovidethatwhereruleshavebeenissuedbylocalgovernmentwithrespecttoratificationofprojectsfallingundertheNDRCRatificationProcedures,suchlocalruleswillprevail.TheotherissueisthatanecdotalevidencesuggeststhatbecauseotherChinesegovernmentapprovalauthoritiesresponsiblefor"

back-end"

approvalsofforeigninvestmentprojectsarenotrequiringNDRCratificationdocumentstobesubmittedaspartoftheirapprovalprocess,andthesanctionsfornon–compliancewiththeNDRCratificationrequirementareunclear,compliancewiththeserequirementsvariesfromplacetoplaceandfromprojecttoproject.

Hence,itappearsthattheNDRC,amacroeconomiccentralplanningbody,isseekinganexpandedroleforitselfintermsofapprovalofforeigninvestmentprojects.Itsroleinthisregardissomewhatcontentious,inthatitisnotalwaysgivenfull（orany）recognitionbytheothergovernmentbodiessuchastheMinistryofCommerce（"

MOFCOM"

）oritslocalauthorisedbodieswhichhavetraditionallyplayedaroleinapprovingtheestablishmentof,andchangesto,FIEs.

BasedontheStateCouncilDecisionandtheNDRCRatificationProcedures,thelocalinvestment 

"

ratification"

thresholdforforeigninvestmentprojectsclassifiedas"

or"

intheCatalogueisnowforatotalinvestmentofupto（butnotincluding）US$100million.Thatistosay,inaccordancewithrelevantregulations,onlythelocaldevelopmentandreformcommissions（"

LocalNDRC"

）arerequiredtoratify（"

核准"

）investmentprojectsofbelowUS$100millioninthe"