Circular on Matters Concerning the Examination and Approval of Foreign-invested Venture Capital Investment Enterprises and Venture Capital Investment Management Enterprises
关于外商投资创业投资企业、创业投资管理企业审批事项的通知
Relaxation of approval authority creates foreign exchange control niche.
(Issued by the Ministry of Commerce on, and effective as of, March 5 2009.)
Shang Zi Han [2009] No.9
Competent commerce departments of provinces, autonomous regions, municipalities directly under the central government, cities with independent development plans, Harbin, Changchun, Shenyang, Jinan, Nanjing, Hangzhou, Guangzhou, Wuhan, Chengdu, Xi'an and the Xinjiang Production and Construction Corp, and state-level economic and technology development zones:
(商务部于二零零九年三月五日发布执行。)
商资函 [2009] 9号
各省、自治区、直辖市、计划单列市、哈尔滨、长春、沈阳、济南、南京、杭州、广州、武汉、成都、西安、新疆生产建设兵团商务主管部门，国家级经济技术开发区：
With a view to further transforming governmental functions, standardising the examination and approval of foreign investment and improving work efficiency, we hereby notify you on matters concerning the examination and administration of foreign investment in the venture capital investment sector as follows:
1. Competent commerce departments of provinces, autonomous regions, municipalities directly under the central government, cities with independent development plans, Harbin, Changchun, Shenyang, Jinan, Nanjing, Hangzhou, Guangzhou, Wuhan, Chengdu, Xi'an and the Xinjiang Production and Construction Corp (Provincial-level Competent Commerce Departments), and state-level economic and technology development zones shall be responsible in accordance with the law for the examination and administration of the establishment of and changes to foreign-invested venture capital investment enterprises and foreign-invested venture capital investment management enterprises with total capital of US$100 million or less.
为进一步转变政府职能，规范外商投资审批工作，提高工作效率，现就外商投资创业投资领域审核管理事项通知如下：
2. Provincial-level Competent Commerce Departments and state-level economic and technology development zones shall conduct their examinations in strict accordance with the requirements of the Provisions for the Administration of Foreign-invested Venture Capital Investment Enterprises and relevant state laws, regulations and policies, and render their written decisions granting or withholding approval within 30 days from the date of receipt of all of the submitted materials. With respect to applications for the establishment of foreign-invested venture capital investment enterprises, the comments of the science and technology administration department at the same level shall be sought in writing. If approval is granted, the Provincial-level Competent Commerce Department or state-level economic and technology development zone shall issue a Certificate for Approval of a Foreign-invested Enterprise, complete a Form for the Record Filing of the Particulars of a Foreign-invested Venture Capital Investment Enterprise (see the Annex) and promptly submit the same to the Ministry of Commerce through the System for the Administration of Foreign-invested Enterprises through Examination and Approval for record filing at one time.
3. Subsequent changes in the particulars (other than single increases in the capital of foreign-invested venture capital investment enterprises exceeding US$100 million or changes in the necessary investors) of foreign-invested venture capital investment enterprises and foreign-invested venture capital investment management enterprises whose establishment was approved by the Ministry of Commerce shall be subject to the examination and approval of the Provincial-level Competent Commerce Department or state-level economic and technology development zone.
一、资本总额1亿美元以下的（含1亿美元）外商投资创业投资企业、外商投资创业投资管理企业的设立及变更由省、自治区、直辖市、计划单列市、哈尔滨、长春、沈阳、济南、南京、杭州、广州、武汉、成都、西安、新疆生产建设兵团商务主管部门（以下简称省级商务主管部门）和国家级经济技术开发区依法负责审核、管理。
4. A Provincial-level Competent Commerce Department or state-level economic and technology development zone may not further delegate its examination and approval to another local department and shall report problems encountered in the course of examination and administration to the Ministry of Commerce in a timely manner. If regulations are violated in the course of examination and approval, the Ministry of Commerce will, depending on the circumstances, circulate a notice of criticism or even recover its examination and administration authority.
5. A venture capital investment enterprise shall complete a Form for the Record Filing of the Particulars of a Foreign-invested Venture Capital Investment Enterprise and report details such as its raising and use of funds for the preceding year to the Provincial-level Competent Commerce Department or state-level economic and technology development zone in March of each year. The Provincial-level Competent Commerce Department or state-level economic and technology development zone shall issue a proof of record filing that shall serve as one of the examination materials when the venture capital investment enterprise participates in the joint annual inspection. Provincial-level Competent Commerce Departments and state-level economic and technology development zones shall summarise the information and submit it to the Ministry of Commerce in May.
二、省级商务主管部门和国家级经济技术开发区应严格按照《外商投资创业投资企业管理规定》及国家有关法律法规和相关政策要求审核，在收到全部上报材料之日起30天内做出批准或不批准的书面决定。对于设立外商投资创业投资企业的申请，应书面征求同级科学技术管理部门意见。予以批准的，省级商务主管部门和国家级经济技术开发区颁发外商投资企业批准证书，填写《外商投资创业投资企业情况备案表》（见附件），并通过外商投资企业审批管理系统一并即时向商务部备案。
6. This Circular shall be effective as of the date of issuance.
Annex
三、商务部批准设立的外商投资创业投资企业、外商投资创业投资管理企业后续变更事项（外商投资创业投资企业单次增资超过1亿美元和必备投资者变更的除外），由省级商务主管部门和国家级经济技术开发区审批。
Form for the Record Filing of the Particulars of a Foreign-invested Venture Capital Investment Enterprise (omitted)
clp reference:2300/09.03.05prc reference:商资函 [2009] 9号promulgated:2009-03-05effective:2009-03-05This premium content is reserved for
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