Foreign-invested Construction Rules in the PRC: Building the Future?
November 30, 2002 | BY
clpstaff &clp articlesNew regulations from MOFTEC and the MOC mean that for the first time wholly foreign-owned construction companies can undertake work in China. However, some provisions remain ambiguous and may actually constitute hurdles for foreign investment in the PRC construction industry.
By Lisa Luo, Associate, Minter Ellison, Hong Kong
On September 27 2002, the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) and the Ministry of Construction (MOC) released the long-awaited Administration of Foreign-invested Construction Enterprises Provisions (外商投资建筑业企业管理规定) (Foreign Construction Provisions), which came into effect on December 1 2002.
The promulgation of the Foreign Construction Provisions follows China's efforts to further standardize practices in the PRC construction industry. Especially in the last couple of years, the MOC has issued a series of new regulations and standards aimed at revamping the industry.
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