State Administration of Radio, Film and Television, Ministry of Commerce and Ministry of Culture, Foreign Investment in Cinemas Tentative Provisions

Promulgated: November 25 2003
Effective: January 1 2004

Main contents: The Provisions lower the minimum registered capital for foreign investment in cinemas from Rmb10 million to Rmb6 million. For Sino-foreign equity joint venture cinemas in Beijing, Shanghai, Guangzhou, Chengdu, Xi'an, Wuhan and Nanjing, the proportion of registered capital of the foreign party shall not exceed 75% (Article 4). Investors from Hong Kong and Macao are also not allowed to hold more than 75% of the equity (Appendix). The examination and approval authority for establishment of foreign-invested cinemas is now delegated to provincial-level administrative departments of commerce and films and the approval only needs to be filed with the Ministry of Commerce, State Administration of Radio, Film and Television and the Ministry of Culture for the record (Article 6(2)).
Related legislation:PRC Sino-foreign Equity Joint Venture Law (2nd Revision), Mar 15 2001, CLP 2001 No.3 p5; PRC Sino-foreign Cooperative Joint Venture Law (Revised), Oct 31 2000, CLP 2000 No.10 p4 and Administration of Films Regulations, Dec 25 2001, CLP 2002 No.1 p15
Repealed legislation: State Administration of Radio, Film and Television, Ministry of Foreign Trade and Economic Cooperation, Foreign Investment in Cinemas Tentative Provisions, Oct 25 2000, CLP 2001 No.2 p11