Ministry of Commerce, Circular on Issues Relevant to Delegation of the Examination and Approval Authority over Foreign Investments to Lower Levels
商务部关于下放外商投资审批权限有关问题的通知
July 14, 2010 | BY
clpstaff &clp articles &Mofcom delegates approval power over foreign-invested holding companies and venture capital companies to lower-level authorities.
Issued: June 10 2010
Main contents: The establishment and change in the particulars of foreign-invested enterprises in the encouraged and permitted categories of the Foreign Investment Industrial Guidance Catalogue with a total investment under US$300 million and in the restricted category with a total investment under US$50 million (the Limits) shall be subject to the examination, approval and administration of local commerce departments (Article 1).
Local authorities shall also be responsible for the examination, approval and administration of the establishment and changes in the particulars of foreign-invested companies with an investment nature with registered capital under US$300 million and of foreign-invested venture capital enterprises and foreign-invested venture capital management enterprises with total capital under US$300 million (Article 4).
Related legislation: Several Opinions on Further Improving the Work on the Use of Foreign Investment, Apr 6 2010, CLP No.4 p.43; and Foreign Investment Industrial Guidance Catalogue (Amended in 2007), Oct 31 2007, CLP No.10 p.22
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