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	DECISION OF THE STANDING COMMITTEE OF THE NATIONAL PEOPLE'S CONGRESS ON AMENDING THE LAW OF THE PEOPLE¡¯S REPUBLIC OF CHINA ON CHINESE-FOREIGN CONTRACTUAL JOINT VENTURES

	(Adopted at the 18th session of the Standing Committee of the Ninth National People's Congress of the People's Republic of China on October 31, 2000)


SUBJECT : CHINESE-FOREIGN CONTRACTUAL JOINT VENTURES; AMENDMENTS
ISSUING DEPARTMENT : THE STANDING COMMITTEE OF THE NATIONAL PEOPLE'S CONGRESS OF THE PEOPLE'S REPUBLIC OF CHINA
ISSUE DATE : 10/31/2000
IMPLEMENT DATE : 10/31/2000
LENGTH : 157 words
TEXT :

The Standing Committee of the Ninth National People's Congress decides to make the following amendments to the Law of the People's Republic of China on Chinese-Foreign Contractual Joint Ventures at its 18th session:

I. Article 19 shall be amended as: "A contractual joint venture may, within its approved scope of business, import materials it needs and export products it produces. A contractual joint venture may, within its approved scope of business and according to the principles of fairness and reasonableness, purchase the raw materials, fuels and other needed materials either on the domestic market or on the world market."

II. Article 20 shall be deleted.

In addition, the sequential order of some articles shall be adjusted according to this Decision.

This Decision shall come into force as of the date of promulgation.

The Law of the People's Republic of China on Chinese-Foreign Contractual Joint Ventures shall be re-promulgated after it has been revised according to this Decision.