document 1 of 1
FIEs required to give an undertaking before allowed establishment.
Promulgated: September 29 2013
Effective: for three years starting from October 1 2013
Applicability: These Measures apply to the establishment of, and changes to, foreign-invested enterprises (FIEs) in the China (Shanghai) Pilot Free Trade Zone (the PFTZ), except for enterprises that are subject to the special administrative measures for foreign investment access (the Negative List) (Article 2).
The administration of record filing of enterprises invested in and established by investors from the Hong Kong and Macao Special Administrative Regions as well as Taiwan in the PFTZ shall, mutatis mutandis, be handled in accordance with the Measures (Article 14).
Main contents: The China (Shanghai) Pilot Free Trade Zone Administrative Committee (the Record Filing Authority) shall be responsible for administration of the record filing of FIEs within its purview (Article 3). Where an investor establishes an FIE in the PFTZ, it shall, upon receiving advance approval for the enterprise name, log on the centralised application acceptance platform for foreign investment in the PFTZ, fill in the application and give an undertaking for the items filed for the record (Article 4).
FIEs established in accordance with Article 4 of the Measures shall complete the procedure for amendment of record filing through the application acceptance platform if there is:
(i) a change in the registered capital (capital increase or reduction);
(ii) a transfer of equity or cooperative joint venture interests:
(iii) a pledge of equity;
(iv) an acquisition or division;
(v) a change in the term of operations;
(vi) an early termination of operations;
(vii) an amendment to the form or deadline of capital contribution; or
(viii) an advance recovery of investment by the foreign party to a Sino-foreign cooperative joint venture (Article 5).
The Record Filing Authority shall conduct periodic inspections on the undertakings of investors (or FIEs) (Article 13).
Related legislation: Decision on Authorising the State Council to Provisionally Adjust the Administrative Examination and Approval Specified in Relevant Laws in the China (Shanghai) Free Trade Zone, Aug 30 2013, CLP 2013 No.5 p.37; and State Council, General Plan for the China (Shanghai) Pilot Free Trade Zone, Sept 18 2013, CLP 2013 No.6 p.86
Shanghai Municipality, Measures for the Administration of Record Filing of Foreign-invested Enterprises in the China (Shanghai) Pilot Free Trade Zone
China
Law & Practice
(Jan/Feb 2014).
Find a copy
http://bb2sz3ek3z.search.serialssolutions.com/?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&rfr_id=info:sid/ProQ%3Aabiglobal&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=unknown&rft.jtitle=China+Law+%26+Practice&rft.atitle=Shanghai+Municipality%2C+Measures+for+the+Administration+of+Record+Filing+of+Foreign-invested+Enterprises+in+the+China+%28Shanghai%29+Pilot+Free+Trade+Zone&rft.au=&rft.aulast=&rft.aufirst=&rft.date=2014-01-01&rft.volume=&rft.issue=&rft.spage=&rft.isbn=&rft.btitle=&rft.title=China+Law+%26+Practice&rft.issn=10126724
Abstract (summary)
None available.
Full Text
Promulgated: September 29 2013
Effective: for three years starting from October 1 2013
Applicability: These Measures apply to the establishment of, and changes to, foreign-invested enterprises (FIEs) in the China (Shanghai) Pilot Free Trade Zone (the PFTZ), except for enterprises that are subject to the special administrative measures for foreign investment access (the Negative List) (Article 2).
The administration of record filing of enterprises invested in and established by investors from the Hong Kong and Macao Special Administrative Regions as well as Taiwan in the PFTZ shall, mutatis mutandis, be handled in accordance with the Measures (Article 14).
Main contents: The China (Shanghai) Pilot Free Trade Zone Administrative Committee (the Record Filing Authority) shall be responsible for administration of the record filing of FIEs within its purview (Article 3). Where an investor establishes an FIE in the PFTZ, it shall, upon receiving advance approval for the enterprise name, log on the centralised application acceptance platform for foreign investment in the PFTZ, fill in the application and give an undertaking for the items filed for the record (Article 4).
FIEs established in accordance with Article 4 of the Measures shall complete the procedure for amendment of record filing through the application acceptance platform if there is:
(i) a change in the registered capital (capital increase or reduction);
(ii) a transfer of equity or cooperative joint venture interests:
(iii) a pledge of equity;
(iv) an acquisition or division;
(v) a change in the term of operations;
(vi) an early termination of operations;
(vii) an amendment to the form or deadline of capital contribution; or
(viii) an advance recovery of investment by the foreign party to a Sino-foreign cooperative joint venture (Article 5).
The Record Filing Authority shall conduct periodic inspections on the undertakings of investors (or FIEs) (Article 13).
Related legislation: Decision on Authorising the State Council to Provisionally Adjust the Administrative Examination and Approval Specified in Relevant Laws in the China (Shanghai) Free Trade Zone, Aug 30 2013, CLP 2013 No.5 p.37; and State Council, General Plan for the China (Shanghai) Pilot Free Trade Zone, Sept 18 2013, CLP 2013 No.6 p.86
( (c) Euromoney Institutional Investor PLC Jan 2014)
Indexing (details)
Title
Shanghai Municipality, Measures for the
Administration of Record Filing of Foreign-invested Enterprises in the China
(Shanghai) Pilot Free Trade Zone
Publication title
Publication year
2014
Publication date
Jan/Feb 2014
Year
2014
Place of publication
London
Country of publication
United Kingdom
Publication subject
ISSN
10126724
Source type
Trade Journals
Language of publication
English
Document type
News
ProQuest document ID
1500839992
Document URL
http://libproxy1.nus.edu.sg/login?url=http://search.proquest.com/docview/1500839992?accountid=13876
Copyright
( (c) Euromoney Institutional Investor PLC
Jan 2014)
Last updated
2014-02-21
Database
ABI/INFORM Complete
No comments:
Post a Comment