Standing Committee of the National People's Congress, Decision on Authorising the State Council to Provisionally Adjust the Administrative Examination and Approval Specified in Relevant Laws in the China (Shanghai) Pilot Free Trade Zone

(1) establishment of wholly foreign-owned enterprises;

(2) division or merger of wholly foreign-owned enterprises or other changes in their material matters;

(3) term of operations of wholly foreign-owned enterprises;

(4) establishment of Sino-foreign equity and cooperative joint ventures;

(5) renewal of the term of operations of Sino-foreign equity and cooperative joint ventures;

(6) dissolution of Sino-foreign equity joint ventures;

(7) material amendments to the agreements or contracts for, and the articles of association of, Sino-foreign cooperative joint ventures;

(8) transfer of joint venture contract rights and obligations by Sino-foreign cooperative joint ventures; and

(9) entrustment to third parties of the operations and management of Sino-foreign cooperative joint ventures.

The aforementioned adjustments in administrative approvals will be implemented on a trial basis for three years, and where practice proves feasibility, the relevant laws will be amended and improved. If practice indicates that the adjustment is not suitable, implementation of the relevant laws shall be restored.

Related legislation:

PRC, Wholly Foreign-owned Enterprise Law (Revised), Oct 31 2000, CLP 2000 No.10 p.4;PRC Sino-foreign Equity Joint Venture Law (2nd Revision), Mar 15 2001, CLP 2001 No.3 p.5;PRC Sino-foreign Cooperative Joint Venture Law (Revised), Oct 31 2000, CLP 2000 No.10 p.4; and Foreign Investment Industrial Guidance Catalogue (Amended in 2011), Dec 24 2011 No.1 online