Ministry of Communications, Provisions for the Administration of Invitation for and Submission of Bids for Commercial Highway Construction Projects by Investors

Promulgated: October 16 2007
Effective: January 1 2008

Main Contents: The term "commercial highways" refers to highways (including bridges and tunnels) constructed and invested in by local or overseas economic organizations that collect toll fees according to law upon approval, which are in compliance with the Regulations on the Administration of Toll Roads.

Parts Two and Three of the Provisions set out the conditions for invitation and submission for bids. A bidder shall fulfil the following basic criteria: (1) having a registered capital of over Rmb10 billion, total assets of over Rmb60 billion and net assets of over Rmb25 billion; (2) have been profitable for the most recent three consecutive years, and the annual financial report shall be audited by an intermediary institution with statutory qualification; (3) its investment and financing capability shall not be lower than the project estimate, of which the net assets shall not be less than 35% of the estimated investment in the project; and (4) it has a good commercial reputation without any major violation of laws (Article 19). Parts Four and Five cover respectively the opening and evaluation of bids as well as winning bids and conclusion of agreement.