Ministry of Commerce, «Establishment of Sino-foreign Foreign Trading Joint Ventures Tentative Procedures» Supplementary Provisions
商务部《关于设立中外合资对外贸易公司暂行办法》补充规定
January 31, 2004 | BY
clpstaff &clp articlesQualifications for Hong Kong and Macao service providers in setting up joint ventures or wholly-foreign-owned companies in the PRC.
Promulgated: December 7 2003
Effective: January 1 2004
Interpreting authority: Ministry of Commerce
Main contents: According to the Supplementary Provisions, Hong Kong and Macao service providers are allowed to establish equity or cooperative foreign trading joint ventures or wholly owned foreign trading companies in the Mainland from January 1 2004 (Item One). The Hong Kong or Macao service provider should have an average annual trade volume with the Mainland over the three years before application of at least US$10 million (Item Two). The minimum registered capital should be Rmb20 million (Item Three). Other provisions on application for establishment of foreign trading companies by Hong Kong or Macao service providers shall be implemented in accordance with the Establishment of Sino-foreign Foreign Trading Joint Ventures Tentative Procedures (Item Four).
Related legislation:Establishment of Sino-foreign Foreign Trading Joint Ventures Tentative Procedures, Jan 31 2002, CLP 2003 No.3 p40; Mainland and Hong Kong Closer Economic Partnership Arrangement, Jun 29 2003, CLP 2003 No.6 p7 and Mainland and Macao Closer Economic Partnership Arrangement
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