Guangdong Province, Promotion of the Development of Venture Capital Investment Tentative Provisions
广东省促进创业投资发展暂行规定
March 31, 2003 | BY
clpstaffIssued: February 14 2003Effective: March 1 2003Interpreting authority: Guangdong Province Development and Planning CommissionApplicability: "Venture Investment"…
Issued: February 14 2003
Effective: March 1 2003
Interpreting authority: Guangdong Province Development and Planning Commission
Applicability: “Venture Investment” means an investment method consisting of all types of equity investment, principally in unlisted high- and new-technology enterprises, and the provision to such enterprises of start-up management services with the object of obtaining short- to long-term gains in the form of capital appreciation (Article 2).
Main contents: Part Two of the Provisions concerns the establishment of venture capital investment organizations. The registered capital of a venture investment organization may not go below Rmb50 million or its equivalent in foreign currencies (Article 7(3)). Investors' contributions shall all be made in monetary form (Article 8). Part Three deals with the establishment of venture capital investment management consultancies and states that the registered capital of such consultancies may not be less that Rmb2 million or its equivalent in foreign currency (Article 12(4)). Part Five deals with encouragement and benefits, and Part Six with the venture capital investment association.
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