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In order to comply with the new situation after China's entry into the WTO, to further attract foreign direct investments, to improve the quality and level of utilizing foreign investments and to regulate the market access environment for foreign investments, the State Administration for Industry and Commerce amended the Measures for the Administration on Authorized Registration of Foreign-funded Enterprises (hereinafter referred to the Measures) in good time. You are hereby notified of the relevant issues relating to the implementation of the Measures as follows: 1. All authorized bureaus shall carefully organize the personnel to study and carry out the Measures, shall conduct self-examination and self-correction according to the requirements described in the Measures, and shall adjust and perfect your own authorized work within the time limit so as to have "competent institutions, perfect functions, qualified personnel and standard work procedures". The administrative bureaus for industry and commerce on the province level shall earnestly organize, lead, coordinate, supervise and inspect the above-mentioned work of the other authorized bureaus within their respective administrative area, shall pay attention to its own authorization, shall abide by the authorization standards and shall intensify the authorized management. 2. The existing authorization shall remain effective till December 31, 2003. Prior to this date, all the existing authorized bureaus shall, according to the scope of authorization specified in the original authorization document, carry out the administration on the registration of foreign-funded enterprises in pursuance of law. 3. Based on the laws and regulations now in effect and the actual situation of registration administration, the State Administration for Industry and Commerce (hereinafter referred to the SAIC) shall be responsible for the registration of the following enterprises and institutions: (1) foreign-funded enterprises, to which the Ministry of Foreign Trade and Economic Cooperation granted approval certificates; (2) foreign-funded banks, joint equity banks, branches of foreign (regional) banks, foreign-funded accounting companies, foreign-funded trust and investment companies, foreign-funded financial lease companies, foreign-funded insurance companies, branches of foreign insurance companies, foreign investment securities companies and foreign-funded investment securities fund management companies established upon the approval of such administrative departments of the State Council as the People's Bank of China, the China Securities Regulatory Commission, the China Insurance Regulatory Commission, etc. (3) foreign (regional) enterprises engaged in the exploration and development of mineral resources within China or operating and managing such projects upon examination and approval of the ministries or commissions of the Central Government; (4) permanent representative offices established within China by foreign (regional) financial, insurance and securities institutions and disseminators; (5) other foreign-funded enterprises that are subject to the registration and administration of the SAIC; and (6) Other enterprises that are subject to the registration and administration of the State Administration for Industry for the reason of implementing the industry policy of the state on foreign investments. The SAIC may, according to the actual situation of registration administration, authorize qualified bureaus the power of registration of the above-mentioned enterprises or institutions on case-by-case basis or in large numbers. In principle, the registration of foreign-funded enterprises and foreign-funded companies limited that are located in provincial capital cities shall be handled by the provincial authorized bureaus. 4. The administrative area of an authorized bureau shall conform to the authorization documents. In principle, the registration of the permanent representative office established by a foreign (regional) enterprise in a provincial capital city shall be handled by the provincial authorized bureau. 5.The administration of the registration of "other enterprises required by the state to implement the industry policies on foreign investments" mentioned in the Measures shall be determined by the SAIC according to the laws, administrative regulations and industry policies. At the present stage, an enterprise, in which the ratio of foreign stock equity is less than 25 % shall, upon approval of the administrative department of foreign trade and economic cooperation or the statutory examination and approval organ, be registered as a foreign-funded enterprise. Except that it is otherwise provided for in any law or regulation or approved by the State Council, no direct foreign-invested enterprise may be registered as a domestically-funded enterprise. 6. All authorized bureaus shall keep relatively central power and ensure the unified enforcement of law. Except for authorizing the lower-level administrative bureaus for industry and commerce to participate in the administration on the registration of foreign-funded enterprises under the present Measures, an authorized bureau shall not authorize any lower-level organ to exercise the administrative power of registration of foreign-funded enterprises, nor may it authorize the administrative organs for industry and commerce of various economic development zones or high and new tech development zones within its administrative area to exercise the said power. 7. All authorized bureaus shall actively push forward the reform of the ways, rules and bylaws for supervising foreign-funded enterprises when establishing "economic household register". All of them shall, under the precondition of uniform exercise of the supervisory power over the subject qualifications and operating qualifications of foreign-funded enterprises, fully exert the functions of the administrative organs for industry and commerce where the enterprises are located. For the purpose of ensuring the quality and level of routine supervision and practically protecting the legitimate rights and interests of foreign-funded enterprises, all places shall, in light of their respective actual situation, formulate practical and effective bylaws and measures, strengthen the guiding and administrative work related to the jurisdictional administration over foreign-funded enterprises. 8. An authorized bureaus shall perform their duties in strict compliance with the Measures, and shall submit the following materials to the SAIC: (1) It shall submit a summary report about the administration on the registration of foreign-funded enterprises of the previous year by the end of January every year; (2) It shall submit a summary report about the annual inspection over the foreign-funded enterprises within this administrative area by the end of June every year; (3) It shall duly submit relevant statistic data under relevant rules and regulations on statistics of foreign investments; and (4) It shall, at any time, report the issues and difficulties arising in the registration administration. All authorized bureaus of the cities of the district level (including cities directly under state planning, cities of the vice-province level and cities directly controlled by a provincial government, same as below) shall accept the leading and supervision of the provincial bureaus. The above-mentioned materials shall be simultaneously copied and sent to the provincial administrative bureaus for industry and commerce when they are submitted to the SAIC. The provisions regarding the report and submission of the relevant registration data and materials shall be separately formulated. 9. The SAIC shall, in light of each authorized bureau's implementation of the Measures, re-determine the qualifications of each authorized bureau and the scope of authorization on the basis of check and acceptance, and shall notify the inferior bureau of the result and publicize it through documents. The items for check and acceptance mainly include the work objectives, internal instrumentalities, functions, personnel, lawful administration, construction of rules and bylaws, management of archives, construction of facilities, requests for instructions and reports, and special tasks, etc. 10. The work relating to the check, acceptance and determination of authorization shall be arranged as follows: (1) During the period from the day when this Notice is distributed to you to December 31, 2003, all existing authorized bureaus shall make self-examinations and self-corrections. Those meeting the requirements of the Measures upon self-examination shall, as of April 1, 2003, submit an application to the SAIC for re-determining the authorization; (2) The Foreign-funded Enterprise Registration Bureau of SAIC shall, according to the requirements of the Measures, organize the specific check and acceptance activities. The SAIC shall, according to the principle of "acknowledging a batch when they are qualified", distribute the acknowledgement documents to the inferior bureaus; (3) The provincial administrative bureaus for industry and commerce shall not only complete the self-examination and reporting work, but also conduct preliminary examination over the authorized bureaus of the cities of the district level within their respective administrative area. The examination opinions of the provincial bureaus and the applications of the authorized bureaus of the cities of the district level shall be simultaneously submitted to the SAIC; and (4) As of January 1, 2004, any existing authorized bureau without being examined and determined by the SAIC shall not exercise the administrative power related to the registration of foreign-funded enterprises any longer. 11. Where there is any discrepancy between the existing provisions and the content of this Notice, this Notice shall prevail. |
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