New rules for the acquisition of domestic firms by foreign investors have recently been issued, and constitute one of the most important legislative developments affecting foreign parties in China this year.
Joint venture trading companies are now allowed on a wider scale. Trading companies can now be set up anywhere in China, the start up requirements are less restrictive, and the scope of business is wider.
Foreign enterprises in the PRC are required to pay value-added tax, business tax and enterprise income tax on the revenue from disposing Chinese financial assets.
Issued: January 16 2003Effective: as of date of issueMain contents: Exploration rights and mining rights may be granted by the authority in charge of registration…
Promulgated: January 8 2003Effective: March 1 2003Interpreting authority: State Economic and Trade CommissionApplicability: These Measures apply to the…
The PRC's new Foreign Debt Administration Tentative Procedures set out tighter foreign debt registration requirements, while collecting and putting a high-level government imprimatur on various policies and practices.