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Jilin Province's Relevant Regulations on Verifying and Approving Foreign-invested Enterprises
2016/08/29     Source:
In accordance with the country's current laws and regulations, implement a verification and approval and registration system for the establishment of foreign-invested enterprises. The size of investment and the "Catalogue for the Guidance of Foreign Investment Industries"-listed project classification is the main basis for dividing the verification and approval authority of all levels of verification and approval organs.
For the establishment and registration change of foreign-invested enterprises with an investment of USD 300 million in the encouraged and allowed classification and USD 50 million in the limited classification according to the "catalogue", the provincial economic cooperation department is responsible for verifying and approving; Among them, foreign-invested joint-stock limited companies' quota is changed to be calculated based on after-estimated net assets value from registered capital and foreign investors' quota on merging and acquiring a domestic enterprise is calculated based on the merger and acquisition amount.  In addition, for a single capital increase below the quota, the establishment and registration change of foreign-invested enterprises above the quota in the encouraged classification and not needing the country's comprehensive balancing, the establishment and registration change of foreign-invested companies with registered capital of below USD 300 million, foreign-invested venture capital enterprises with capital sum of below USD 300 million and foreign-invested venture investment management enterprises, and the establishment and registration change of foreign-invested enterprises in the service industry except those needing approval by the Ministry of Commerce, the provincial economic cooperation department is responsible for verifying and approving.
The establishment and registration change of foreign-invested enterprises with an investment of below USD 50 million in the encouraged and allowed classification in the "catalogue" (except those involving national macro-control, special industries, mergers and acquisitions and needing approval from the provincial commerce department), local economic cooperation departments and development zones owning the verification and approval authority are responsible for verifying and approving.
Meanwhile, to fulfill its WTO commitments and according to the Foreign Investment Act and its implementing regulations (rules), China has developed and implemented more than 40 foreign investment laws and regulations in the service trade areas, such as the financial industry, business, transportation, and film and television production. Foreign investment projects in the service trade areas should be verified and approved according to relevant laws and regulations.
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