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REPLY OF THE STATE ADMINISTRATION OF INDUSTRY AND COMMERCE TO ISSUES ABOUT JOINT VENTURES WITH FOREIGN-FUNDED ENTERPRISES |
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(No. 6 [2002] of the State Administration of Industry and Commerce promulgated on January 14, 2002) |
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SUBJECT : JOINT VENTURES; FOREIGN-FUNDED |
ISSUING DEPARTMENT : STATE ADMINISTRATION OF INDUSTRY AND COMMERCE |
ISSUE DATE : 01/14/2002 |
IMPLEMENT DATE : 01/14/2002 |
LENGTH : 105 words |
TEXT : |
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The Request for Instruction on the Issues concerning the Joint Ventures with Foreign-Funded Enterprises by the Industrial and Commercial Bureau of Shantou City in your province (No. 106 [2001] of Shantou ICB) has been received. After discussion, we hereby give the reply as follows:
In accordance with Article 3 of Some Provisions on the Registration and Administration of Foreign-Funded Enterprises' Becoming Company Shareholders or Promoters (No. 260 [1995] of the SAIC), a foreign-funded enterprise may, in its own name, invest its assets in a limited liability company or a company limited by shares, and the said "assets" shall not be limited to its "profits" only.
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