Issued: November 11 2004Main contents: Where a foreign-invested enterprise applies for an extension of its term of business later than the stipulated period…
Development of China's physical infrastructure has not managed to keep pace with the country's strong economic growth. How have foreign investors' chances faired as China faces its ongoing need to modernize its infrastructure?
The Circular aim to maintain the balance of payments and to ensure the compliant and orderly flow of cross-border capital. Local investors who wish to invest abroad with it sown domestic assets/equity shall obtain the verification of the foreign exchange administration.
Under a recent crackdown by the State Administration for Foreign Exchange (SAFE), cross-border investments and related transactions of "domestic residents" of China are subject to tougher scrutiny, procedures and restrictions.
The main focus of the Procedures is to administrate the relevant transactions and market risks brought by commercial banks that are shareholders of fund management companies.
The Procedures clarify that "branded automobile sales" do not require the establishment of 4S shops, but a unified shop name, logo or trademark under which automobile business activities of automobile suppliers or their authorized branded automobile dealers are engaged in.