China Law Online Database : novexcn.com

You are using Guest Account

Subscribe To This Law Only

Subscribe To All Law Contents

Print This Page

Back




	SUPPLEMENTARY PROVISIONS OF THE MEASURES OF THE ADMINISTRATION OF FOREIGN INVESTMENT IN COMMERCIAL SECTOR (II) (HKSAR & MSAR)

	(Order of the Ministry of Commerce (No. 22 [2006]), November 3, 2006: adopted by the Ministry of Commerce on August 21, 2006, and shall come into force as of December 1, 2006)


SUBJECT : FOREIGN INVESTMENT; COMMERCIAL SECTOR; HKSAR & MSAR
ISSUING DEPARTMENT : THE MINISTRY OF COMMERCE OF THE PEOPLE'S REPUBLIC OF CHINA
ISSUE DATE : 11/03/2006
IMPLEMENT DATE : 12/01/2006
LENGTH : 276 words
TEXT :

With a view to promoting Mainland/Hong Kong and Mainland/Macao closer economic partnership, and encouraging Hong Kong and Macao service providers to establish commercial enterprises in the Mainland, we have worked out the following supplementary provisions on investment in the commercial sector by Hong Kong and Macao service providers prescribed in the Measures for the Administration of Foreign Investment in the Commercial Sector (Order No.8 of the Ministry of Commerce) in accordance with the Supplementary Agreement III to Mainland/Hong Kong Closer Economic Partnership Arrangement and the Supplementary Agreement III to Mainland/Macao Closer Economic Partnership Arrangement approved by the State Council:

I. Where a same Hong Kong or Macao service supplier has accumulatively set up more than 30 stores in the Mainland, if it engages in the business of books, newspapers, magazines, medicines, pesticides, farming films, fertilizers, grains, edible oil, sugar, cotton, etc. that are of different brands and provided by different suppliers, the Hong Kong or Macao service supplier is allowed to hold a controlling amount of shares, but the proportion of its capital contribution shall not exceed 65%.

II. The Hong Kong and Macao service providers mentioned in the present Provisions shall respectively comply with the definition of "service providers" in the Mainland/Hong Kong Closer Economic Partnership Arrangement and the Mainland/Macao Closer Economic Partnership Arrangement as well as the requirements of the relevant provisions thereof.

III. Other matters concerning the investment of Hong Kong and Macao service providers in the commercial sector within the Mainland shall still be implemented in accordance with the Measures for the Administration of Foreign Investment in the Commercial Sector.

IV. The present Provisions shall be implemented as of December 1, 2006.