关于外商投资的公司审批登记管理法律适用若干问题的执行意见

　　为了准确适用法律，规范、便民、高效地开展外资审批和登记管理工作，促进外商投资企业健康发展，提高我国利用外资的质量和水平，现就外商投资的公司审批和登记管理如何适用《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国公司登记管理条例》（以下简称《公司登记管理条例》）以及国家关于外商投资的法律、行政法规和政策，提出以下执行意见。

　　一、外商投资的公司的登记管理适用《公司法》和《公司登记管理条例》；有关外商投资企业的法律另有规定的，适用其规定；《公司法》、《公司登记管理条例》、有关外商投资企业的法律没有规定的，适用有关外商投资企业的行政法规、国务院决定和国家有关外商投资的其他规定。

　　二、外国公司、企业和其他经济组织或者自然人（以下简称外国投资者）可以同中国的企业、其他经济组织以中外合资、中外合作的形式依法设立公司，也可以外商合资、外商独资的形式依法设立公司。

　　以外商独资的形式依法设立一人有限公司的，其注册资本最低限额应当符合《公司法》关于一人有限公司的规定；外国自然人设立一人有限公司的，还应当符合《公司法》关于一人有限公司对外投资限制的规定。2006年1月1日以前已经依法设立的外商独资的公司维持不变，但其变更注册资本和对外投资时应当符合上述规定。

　　三、中外合资、中外合作的有限责任公司的董事会是公司的权力机构，其组织机构由公司根据《中外合资经营企业法》、《中外合作经营企业法》和《公司法》通过公司章程规定。

　　外商合资、外商独资的有限责任公司以及外商投资的股份有限公司的组织机构应当符合《公司法》和公司章程的规定。

　　四、外商投资的公司设立登记的申请期限应当符合《公司登记管理条例》规定。但是，以中外合作、外商合资、外商独资形式设立公司的，应当按照《中外合作经营企业法》和《外资企业法》的规定，自收到批准文件之日起30日内向公司登记机关申请设立登记。逾期申请设立登记的，申请人应当报审批机关确认原批准文件的效力或者另行报批。

　　五、申请外商投资的公司的审批和设立登记时向审批和登记机关提交的外国投资者的主体资格证明或身份证明应当经所在国家公证机关公证并经我国驻该国使（领）馆认证。香港、澳门和台湾地区投资者的主体资格证明或身份证明应当依法提供当地公证机构的公证文件。

　　申请外商投资的公司的审批和设立登记，除提交《公司登记管理条例》第二十条或第二十一条规定的相应文件外，还应当向审批和登记机关提交外国投资者（授权人）与境内法律文件送达接受人（被授权人）签署的《法律文件送达授权委托书》。该委托书应当明确授权境内被授权人代为接受法律文件送达，并载明被授权人地址、联系方式。被授权人可以是外国投资者设立的分支机构、拟设立的公司（被授权人为拟设立的公司的，公司设立后委托生效）或者其他境内有关单位或个人。

　　公司增加新的境外投资者的，也应当向审批和登记机关提交上述文件。

　　外商投资的公司向公司登记机关申请设立登记、股权转让变更登记时不再提交合资、合作合同和投资者的资信证明。

　　六、公司登记机关应当根据申请，依法将外商投资的公司类型分别登记为“有限责任公司”或“股份有限公司”，并根据其设立形式在“有限责任公司”后相应加注 “（中外合资）”、“（中外合作）”、“（外商合资）”、“（外国法人独资）”、“（外国非法人经济组织独资）”、“（外国自然人独资）”、“（台港澳与外国投资者合资）”、“（台港澳与境内合资）”、“（台港澳与境内合作）”、“（台港澳合资）”、“（台港澳法人独资）”、“（台港澳非法人经济组织独资）”、“（台港澳自然人独资）” 等字样，在“股份有限公司”后相应加注“（中外合资，未上市）”、“（中外合资，上市）”、“（外商合资，未上市）”、“（外商合资，上市）”、“（台港澳与外国投资者合资，未上市）”、“（台港澳与外国投资者合资，上市）”、“（台港澳与境内合资，未上市）”、 “（台港澳与境内合资，上市）”、“（台港澳合资，未上市）” 、“（台港澳合资，上市）”等字样。

　　公司登记机关可以根据国家利用外资产业政策及其相关规定，在公司类型后加注有关分类标识（如 “（外资比例低于25%）”、“（A股并购）”、“（A股并购25%或以上）”等）。

　　对于2006年1月1日以前已经设立的外商投资的公司，公司登记机关应当在其变更登记时依上述规定做相应调整。

　　七、外商投资的公司设立以后，可以依法开展境内投资。公司登记机关不再出具相应的境内投资资格证明。

　　外商投资的公司营业执照尚未按本意见第六条载明公司详细类型，且又申请设立一人有限公司的，由公司登记机关出具“非自然人独资”的证明。

　　八、外商投资的公司的注册资本可以用人民币表示，也可以用其他可自由兑换的外币表示。作为公司注册资本的外币与人民币或者外币与外币之间的折算，应按发生（缴款）当日中国人民银行公布的汇率的中间价计算。

　　九、外商投资的有限责任公司（含一人有限公司）的股东首次出资额应当符合法律、行政法规的规定，一次性缴付全部出资的，应当在公司成立之日起六个月内缴足；分期缴付的，首次出资额不得低于其认缴出资额的百分之十五，也不得低于法定的注册资本最低限额，并应当在公司成立之日起三个月内缴足，其余部分的出资时间应符合《公司法》、有关外商投资的法律和《公司登记管理条例》的规定。其他法律、行政法规要求股东应当在公司成立时缴付全部出资的，从其规定。

　　外商投资的股份有限公司的出资应当符合《公司法》的规定。

　　十、外商投资的公司的股东的出资方式应当符合《公司法》第二十七条、《公司登记管理条例》第十四条和《公司注册资本登记管理规定》的规定。在国家工商行政管理总局会同有关部门就货币、实物、知识产权、土地使用权以外的其他财产出资作出规定以前，股东以《公司登记管理条例》第十四条第二款所列财产以外的其他财产出资的，应当经境内依法设立的评估机构评估作价，核实财产，不得高估或者低估作价。实缴出资时还必须经境内依法设立的验资机构验资并出具验资证明。

　　中外合资的有限责任公司的股东以《中外合资经营企业法》规定的实物（含设备）、工业产权等非货币财产（土地使用权除外）出资的，其价格可以由合营各方评议商定。

　　十一、外商投资的公司的股东以自己的名义通过借贷等方式筹措的资金应当视为自己所有的资金，经验资机构出具验资证明以后可以作为该股东的出资。

　　十二、外商投资的公司申请变更登记的期限应当符合《公司登记管理条例》的规定。法律、行政法规规定或者国务院决定公司和公司登记事项在变更登记前须经批准的，应当自审批机关批准之日起30日内申请办理变更登记。逾期申请的，申请人应当报原审批机关确认文件效力或者另行报批。

　　十三、外商投资的公司申请变更登记应当依照《公司登记管理条例》第二十七条、第二十九条、第三十一条、第三十二条、第三十三条、第三十四条、第三十五条规定提交相应的文件。因下列情形办理有关登记事项变更登记时还应当提交原审批机关的审批文件以及变更后的批准证书：

　　（一）注册资本；

　　（二）公司类型；

　　（三）经营范围；

　　（四）营业期限；

　　（五）股东或发起人认缴的出资额、出资方式；

　　（六）外商投资的公司合并、分立；

　　（七）跨审批机关管辖的地址变更；

　　（八）有限责任公司股权转让或股份有限公司股份转让（不涉及营业执照和批准证书载明事项的除外）。

　　除前款规定情形以外，外商投资的公司登记事项变更涉及公司章程修改的，应当在办理变更登记手续后30日内依法向审批机关办理变更手续。

　　十四、外商投资的公司迁移（跨原公司登记机关管辖的），应当向原公司登记机关申请办理迁移手续。跨审批机关管辖的，应当向迁入地审批机关提出申请。迁入地审批机关收到申请后，应当在5个工作日内征求迁出地审批机关意见；迁出地审批机关应当在收到征求意见函后的5个工作日内回复；迁入地审批机关收到意见后，应当在3个工作日内作出批复。原公司登记机关收到申请后，应当在5个工作日内征求迁入地登记机关意见；迁入地登记机关应当在5个工作日内回复；原公司登记机关根据迁入地公司登记机关和审批机关同意迁入的意见，收缴营业执照，出具迁移证明，并在10个工作日内将申请材料和公司登记档案移送迁入地的公司登记机关。申请迁移的公司凭迁移证明和审批机关的批准文件，向迁出地审批机关缴销批准证书，到迁入地审批机关领取批准证书，向迁入地的公司登记机关申请变更登记，领取营业执照。

　　十五、外商投资的公司增加注册资本，有限责任公司（含一人有限公司）和以发起方式设立的股份有限公司的股东应当在公司申请注册资本变更登记时缴付不低于百分之二十的新增注册资本，其余部分的出资时间应符合《公司法》、有关外商投资的法律和《公司登记管理条例》的规定。其他法律、行政法规另有规定的，从其规定。

　　股份有限公司为增加注册资本发行新股时，股东认购新股，依照设立股份有限公司缴纳股款的有关规定执行。

　　十六、申请人在下列情况下申请注册资本变更时，对于作为实物出资的进口货物按规定可以免税的，申请人应当向海关书面说明有关情况，并先凭《国家鼓励发展的内外资项目确认书》申请办理进口设备的凭保放行手续，在取得变更后的公司营业执照后，再办理相关的减免税手续：

　　（一）外商投资的公司增加注册资本时申请以进口实物出资并经审批机关批准的；

　　（二）外国投资者或者外商投资的公司并购境内企业同时增加注册资本时申请以进口实物出资并经审批机关批准的；

　　（三）外商投资的公司因注册资本的其他变动申请实物进口并经审批机关批准的。

　　十七、外汇管理部门在办理以下业务时，不再要求申请人提供变更后的公司营业执照：

　　（一）外商投资的公司增加注册资本时申请变更外汇登记或者开立、变更资本金账户；

　　（二）外国投资者或外商投资的公司并购境内企业同时增加注册资本时申请办理外汇登记或开立资本金账户；

　　（三）外商投资的公司减少注册资本而向外汇管理部门申请办理减资核准件；

　　（四）外商投资的公司因资本变动而办理其他变更外汇登记。

　　十八、外商投资的公司的下列事项及其变更应当向公司登记机关备案：

　　（一）经审批机关批准的不涉及登记事项的公司章程修正案或修改后的公司章程（含投资总额的变更）；

　　（二）公司董事、监事、经理；

　　（三）公司分公司的设立和注销；

　　（四）公司清算组成员、清算组负责人名单。

　　外商投资的公司的股东延期出资、实缴注册资本，不再办理备案手续，而应当按照《公司登记管理条例》办理相应的变更登记。

　　外商投资的公司办理备案事项，应当向公司登记机关提交由公司法定代表人（清算组负责人）签署的备案报告、证明备案事项发生的相关文件。备案文件齐备的，公司登记机关予以备案，并应申请人的要求，出具备案证明。

　　十九、外国投资者（授权人）变更境内法律文件送达接受人（被授权人）的，应当签署新的《法律文件送达授权委托书》，并及时向公司登记机关备案。被委托人名称、地址等事项发生变更的，也应当及时向公司登记机关备案。公司登记机关应当在公司登记档案中记载。

　　外国投资者没有办理上述备案的，公司登记机关将境内法律文件送达公司登记机关记载的被授权人，视为向外国投资者送达。

　　二十、外商投资的公司的股东办理股权质押备案，应当向公司登记机关提交公司出具的股权质押备案申请书、审批机关的批准文件、质押合同。公司登记机关接受备案后，应申请人的要求，可出具载明出质股东名称、出质股权占所在企业股权的比例、质权人名称或姓名、质押期限、质押合同的审批机关等事项的备案证明。在质押期间，未经质权人同意，出质股东不得转让或再质押已经出质的股权，也不得减少相应的出资额。

　　二十一、外商投资的公司根据《公司法》第二十二条的规定申请撤销变更登记，应当向公司登记机关提交撤销变更登记申请书和人民法院的裁判文书。涉及外资审批事项的，还应当提交审批机关的批准文件。符合《公司法》规定的，公司登记机关作出准予撤销变更登记的决定，涉及营业执照记载事项的，应当换发营业执照。

　　二十二、外商投资的公司解散事由出现以后，公司未在《公司法》规定的期限内成立清算组进行清算，债权人也不向人民法院申请指定清算组进行清算的，外商投资的公司的权力机构、股东、债权人可以根据《外商投资企业清算办法》的规定向审批机关申请进行特别清算。海关监管货物应当先办结海关手续，并补交相应税款。

　　二十三、外商投资的公司申请注销登记，应当依照《公司登记管理条例》第四十四条提交相应文件。其中，清算报告还应当附税务机关的注销证明、海关出具的办结海关手续证明或者未办理海关登记手续的证明；外商投资的公司提前终止经营活动申请注销登记的，还应当提交审批机关的批准文件（法院裁定解散、破产或行政机关责令关闭、吊销营业执照、吊销设立许可或撤销公司设立登记的除外）。

　　二十四、外商投资的公司设立或撤销分公司，无须原公司登记机关核转，直接向分公司所在地的外商投资的公司登记机关申请登记。

　　根据法律、行政法规、国务院决定或者国家有关外商投资限制类项目以及服务贸易领域的专项规定，设立和撤销分公司需经有关部门批准的，应当自批准之日起30日内申请登记。逾期申请的，申请人应当报原审批机关确认文件效力或者另行报批。

　　二十五、公司登记机关不再办理外商投资的公司办事机构的登记。原已登记的办事机构，不再办理变更或者延期手续。期限届满以后，应当办理注销登记或根据需要申请设立分公司。外商投资的公司的分公司可以从事公司经营范围内的联络、咨询等业务。

　　以办事机构名义从事经营活动的，由公司登记机关依法查处。

　　二十六、外商投资的公司的股东、发起人未交付或者未按期交付作为出资的货币或者非货币财产的，由公司登记机关按照《公司注册资本登记管理规定》的适用原则实施处罚。2006年1月1日以前设立的公司，其出资时间以设立登记时为准。

　　对于中外合作的公司，逾期不履行出资义务的，按照《中外合作经营企业法》第九条规定，由公司登记机关责令其限期履行；逾期仍不履行的，按本条第一款处理；对于外商合资或外商独资的公司，逾期不缴付的，公司登记机关除了按本条第一款处理，还可以按照《外资企业法》第九条规定，吊销其营业执照。

　　二十七、外商投资的公司超出核准登记的经营范围，擅自从事《外商投资产业指导目录》鼓励类、允许类项目经营活动的，公司登记机关适用《公司登记管理条例》第七十三条规定处罚。

　　外商投资的公司超出核准登记的经营范围，擅自从事《外商投资产业指导目录》限制类、禁止类项目经营活动的，公司登记机关可以认定为“超出核准登记的经营范围，擅自从事应当取得许可证或者其他批准文件方可从事的经营活动的违法经营行为”，适用《无照经营查处取缔办法》的规定予以处罚。构成犯罪的，依法追究其刑事责任。

二十八、台湾地区、香港特别行政区、澳门特别行政区的投资者、定居在国外的中国公民（华侨）投资设立的公司，以及外商投资的投资性公司、外商投资的创业投资公司投资设立的公司，其审批登记管理参照适用本意见。

Notice of the State Administration for Industry and Commerce, Ministry of Commerce, General Administration of Customs and the State Administration of Foreign Exchange about Printing and Distributing the Executive Opinions on Some Issues Concerning the Application of Law Governing the Examination, Approval and Registration of Foreign-funded Companies

(No. 81 [2006] of the State Administration for Industry and Commerce)


The administrative bureaus for industry and commerce, departments of commerce, and bureaus of foreign exchange of each province, autonomous region, municipality directly under the Central Government or city under separate state planning, all customs houses directly under the General Administration of Customs, all economic and technological development zones at the state level,

The Decision about on Amending the Company Law of the People’s Republic of China deliberated and adopted at the 18th session of the Standing Committee of the Tenth National People’s Congress on October 27, 2005 and the Decision of the State Council about on Amending the Regulation of the People’s Republic of China on the Administration of the Company Registration have been implemented since January 1, 2006. For the purposes of correctly applying the law, carrying out the administration ofregulate the examination, approval and registration of foreign investments in a manner, which is standard, facilitates facilitative to the people and is highly efficient, promoting the sound development of foreign-funded enterprises and enhancing the quality and level of utilization of foreign investments by our country, hereby the Executive Opinions on Some Issues Concerning the Application of Law Governing the Examination, Approval and Registration of Foreign-funded Companies are hereby printed and distributed to you, please comply with them. If there is any problem during the course of execution of these Opinions, please report to us in a timely manner.

Annex: Executive Opinions on Some Issues Concerning the Application of Law Governing the Examination, Approval and Registration of Foreign-funded Companies

State Administration for Industry and Commerce
Ministry of Commerce
General Administration of Customs
State Administration of Foreign Exchange
April 24, 2006

Annex:

Executive Opinions on Some Issues Concerning the Application of Law Governing the Examination, Approval and Registration of Foreign-funded Companies

For the purposes of correctly applying the law, carrying out the administration ofregulate the examination, approval and registration of foreign investments in a manner which is standard, facilitates facilitative to the people and is highly efficient, promoting the sound development of foreign-funded enterprises and enhancing the quality and level of utilization of foreign investments by our country, hereby the executive opinions on how to apply the Company Law of the People’s Republic of China (hereinafter referred to as the Company Law), the Regulation on the Administration of the Company Registration of the People’s Republic of China (hereinafter referred to as the Regulation on the Administration of Company Registration) and other laws, administrative regulations and policies of the state concerning foreign investments to the administration ofin terms of the examination, approval and registration of foreign-funded companies are hereby given as follows:

1. The Company Law and the Regulation on the Administration of Company Registration shall apply to the administration of the registration of foreign-funded companies; if any relevant law on foreign-funded enterprises provides otherwise, this such law shall prevail. For any matter not covered by the Company Law, the Regulation on the Administration of Company Registration or the relevant laws on foreign-funded enterprises, the pertinent administrative regulations on foreign-funded enterprises, decisions of the State Council, and other provisions of the State on foreign-funded enterprises shall apply to it.

2. A foreign company, enterprise or any other economic organization or natural person (hereinafter referred to as a foreign investor) may establish a Sino-foreign equity joint or Sino-foreign contractual company with a Chinese enterprise or any other economic organization, or may establish a foreign-funded equity or solely foreign-funded company.

If an one-person limited company is established in the solely foreign-funded form, the minimum amount of its registered capital shall satisfy the provisions of the Company Law on one-person limited companies. If an one-person limited company is established by a foreign natural person, the provisions on the restrictions about the outbound investments made by one-person limited companies shall be satisfied. A solely foreign-funded company already established prior to January 1, 2006 shall remain unchanged, but when it modifies its registered capital or makes an outbound investment, it shall comply with the above-mentioned provisions.

3. The board of directors of a Sino-foreign equity joint or Sino-foreign contractual limited company is the organ of power department of the company. The organizational structure of the company shall be specified in the articles of association pursuant to the Sino-foreign Equity Joint Enterprise Law, the Sino-foreign Contractual Enterprise Law and the Company Law.

The organizational structure of a foreign-funded equity joint or solely foreign-funded limited company or a foreign-funded stock limited company shall be in line with the Company Law and its articles of associations.

4. The time limit for the application for the establishment of a foreign-funded company shall satisfy the provisions of the Regulation on the Administration of Company Registration. However, to establish a Sino-foreign contractual company, foreign-funded equity joint company or solely foreign-funded company, the applicant shall, in accordance with the Sino-foreign Equity Joint Enterprise Law and the Sino-foreign Contractual Enterprise Law, file with the company registration organ an establishment application within 30 days from the day when it receives the approval document. If it fails to do so within the time limit, the applicant shall request the examination and approval organ to confirm the validity of the original approval document or submit a new application for approval.

5. The subject qualification certificate or identity certificate of a foreign investor, which is submitted to the examination, approval and registration organs for the examination, approval and establishment registration of a foreign-funded company, shall be subject to the notarization of a notarial agency of the country in which the foreign investor is located and shall be subject to the recognition of the Chinese embassy (consulate) stationed in this country. The subject qualification certificate or identity certificate of an investor from Hong Kong, Macao or Taiwan Region shall be accompanied by a notarial document of a local notarial agency.

To apply for the examination, approval and establishment registration of a foreign-funded company, the applicant shall not only submit the corresponding documents as required in Articles 20 and 21 of the Regulation on the Administration of Company Registration, but also submit a Power of Attorney for the Service of Legal Documents signed by the foreign investor (the authorizer) and the addressee of service of domestic legal documents (the authorized). Such a power of attorney shall explicitly grant authority to the authorized to accept the service of domestic legal documents and shall state the address and contact information of the authorized. The authorized may be a branch established by the foreign investor, a company to be established (if the authorized is a company to be established, the authorization will come into force after the establishment of the company), or any other relevant entity or individual within China.

If a company has any new foreign investor, it shall submit the above-mentioned documents to the examination, approval and registration organs.

If a foreign-funded company files an application for establishment registration or an application for equity transfer modification registration with the company registration organ, it is not required to submit any equity joint or contractual contract, or certificate for the credit standing of the investor any more.

6. A company registration organ shall, according to the application, register the type of a foreign-funded company as “limited liability company” or “stock limited company”, and shall, according to the form of establishment, add a wordingthe words “Sino-foreign equity joint”, “Sino-foreign contractual”, “foreign-funded equity joint”, “solely funded by a foreign corporate bodyjuridical person”, “solely funded by a foreign non-corporate-body economic organization without juridical person status”, “solely funded by foreign natural person”, “jointly funded by Taiwan, Hong Kong, Macao and Foreign Investors”, “ Taiwan, Hong Kong, Macao and domestic equity joint”, “Taiwan, Hong Kong, Macao and domestic contractual”, “Taiwan, Hong Kong and Macao equity joint”, “ solely funded by Taiwan, Hong Kong or Macao corporate body”, “solely funded by Taiwan, Hong Kong or Macao non-corporate-body economic organization” or “solely-funded by Taiwan, Hong Kong or Macao natural person) after the “limited liability company”, and add a wordingthe words “Sino-foreign equity joint, unlisted”, “Sino-foreign equity joint, listed”, “foreign equity joint, unlisted”, “foreign equity joint, listed”, “jointly funded by Taiwan, Hong Kong, Macao and foreign investors, unlisted”, “jointly funded by Taiwan, Hong Kong, Macao and foreign investors, listed”, “Taiwan, Hong Kong, Macao and domestic equity joint, unlisted”, “Taiwan, Hong Kong, Macao and domestic equity joint, listed”, “Taiwan, Hong Kong, Macao equity joint, unlisted” or “Taiwan, Hong Kong, Macao equity joint, unlisted” after the “stock limited company”.

A company registration organ may, in pursuance of the industrial policies of the state on the utilization of foreign investments and the relevant provisions, add the relevant classification mark after the type of company (such as “foreign investment proportion less than 25%”, “A-share merger” or “A-share merger 25% or more”.

For a foreign-funded company established prior to January 1, 2006, the company registration organ shall make corresponding adjustments according to the preceding provisions when it modifies the registration.

7. After a foreign-funded company is established, it may investments within China. The company registration organ will not issue any new domestic investment qualification certificate.

If the business license of a foreign-funded company fails to state the detailed type of the company as required in Article 6 of these Opinions and if it applies for establishing an one-person limited company, the company registration organ shall issue a certificate of “solely-funded by non-natural person”.

8. The registered capital of a foreign-funded company shall be denominated in RMB, or in a freely convertible foreign currency. The translation between a foreign currency and RMB or between foreign currencies as the registered capital of a company shall be calculated on the basis of the central parity of exchange rates announced by the People’s Bank of China on the occurrence (payment) date.

9. The amount of the initial capital contribution of the shareholder of a foreign-funded limited liability company (including an one-person limited company) shall comply with the provisions of the laws and administrative regulations. If the total registered capital is to be paid in a lump sum, it shall be paid in full amount within 6 months as of the date of establishment of the company. If the capital contributions are to be made by installments, the amount of the initial capital contribution shall not be less than 15% of the amount the shareholders subscribe to, nor be less than the statutory minimum amount of registered capital, and shall be paid in full amount within 3 months as of the date of establishment of the company. The time for the contribution of other portions of the registered capital shall satisfy the provisions of the Company Law, the relevant laws on foreign investments, and the Regulation on the Administration of Company Registration. If any law or administrative regulation requires the shareholders to contribute the registered capital in a lump sum at the time of establishment of the company, this such law or administrative regulation shall prevail.

The capital contributions of a foreign-funded stock limited company shall satisfy the provisions of the Company Law.

10. The way by which a shareholder of a foreign-funded company contributes the registered capital shall meet the provisions of Article 27 of the Company Law, Article 14 of the Regulation on the Administration of Company Registration, as well as the Administrative Provisions on the Registration of Companies’ Registered Capital. Before the provisions on capital contributions in any property other than money, in-kind, intellectual property, land use right are formulated by the State Administration for Industry and Commerce jointly with other relevant departments, if a shareholder makes a capital contribution in any property other than those as listed in Paragraph 2 of Article 14 of the Regulation on the Administration of Company Registration, the property as the capital contribution shall be assessed, priced and verified by an assessment institution lawfully established within China, which and shall not be over-assessed or under-assessed. The paid-in capital shall be subject to the capital verification of a capital verification institution lawfully established within China, by which shall issue a capital certification shall be issued.

If a shareholder of Sino-foreign equity joint limited liability company makes a capital contribution in kind (including equipment), industrial property right or any other non-monetary property (except for the land use right) as prescribed in the Sino-foreign Equity Joint Enterprise Law, the price shall be negotiated and determined by all parties concerned.

11. If a shareholder of a foreign-funded company raises any money by way of borrowing in its own name, the money shall be regarded as its own, and may become used asa capital contribution of the shareholder after the capital verification institution issues a capital verification certification for it.

12. The time limit for a foreign-funded company to apply for modifying the company registration shall be in line with the Regulation on the Administration of Company Registration. If the modification of any company or company registration item shall be subject to a prior approval under any law, administrative regulation, or decision of the State cCouncil, a registration modification application shall be filed within 30 days after the date of approval of the examination and approval organ. If no applicant is filed within the time limit, the applicant shall request the original examination and approval organ to confirm the validity of the document or file a new application for approval.

13. Where a foreign-funded company applies for modifying the registration, it shall submit the documents as required in Articles 27, 29, 31, 32, 33, 34 and 35 of the Regulation on the Administration of Company Registration. When it goes through the registration modification formalities due to the following registration matters, it shall, besides the aforesaid documents, submit the examination and approval document of the original examination and approval organ, as well as the post-modification approval certificate:

(1)The registered capital;

(2)The type of company;

(3)The business scope;

(4)The term of business term operations;

(5)The amount and form of the capital contribution subscribed to by each shareholder or promoter.

(6)The merger or split-up of a foreign-funded company;

(7)The change of the address beyond which falls with the jurisdiction of a different the examination and approval organ; and

(8)The transfer of the equities of a limited liability company or the transfer of shares of a stock limited company (with the exception of the circumstances not involving any item stated in the business license or approval certificate).

Except for the circumstances as mentioned in the preceding paragraph, if the modification of any registration item of a foreign-funded company involves any modification to the articles of association, it shall, within 30 days after it finishes the modification registration formalities, go through the modification formalities in the examination and approval organ.

14. For the removal (beyond to the jurisdiction of a different company registration organ) of a foreign-funded company, an application shall be filed with the company registration organ of the original place for going through removal formalities. For the removal beyond to the jurisdiction of a different company registration organ, an application shall be filed with the examination and approval organ of the new place. After the examination and approval organ of the new place receives the application, it shall, within 5 working days, consult the opinions of the examination and approval organ of the original place. The examination and approval organ of the original place shall make a reply within 5 working days after it receives a letter for consulting its opinions. After the examination and approval organ of the new place receives the opinions, it shall make an official reply within 3 working days. After the company registration organ of the original place receives an application, it shall, within 5 working days, consult the opinions of the registration organ of the new place. The registration organ of the new place shall make a reply within 5 working days. The company registration organ of the original place shall, according to the permissions- to- move- in as given by the company registration organ and the permission- to- move- in as given by the examination and approval organ of the new place, take back the business license, issue a removal certificate, and submit the application materials and company registration archives to the company registration organ of the new place within 10 working days. The company applying for removal shall, upon the strength of the removal certificate and the approval document of the examination and approval organ, hand back and cancel the approval certificate in the examination and approval organ of the original place, fetch a new approval certificate from the examination and approval organ of the new place, file an application with the company registration organ of the new place for modifying the registration and fetch a new business license.

15. Where a foreign-funded company increases its registered capital, the shareholders of the a limited liability company (including a one-person limited company), or the a stock limited company established by the promoters, shall pay no less than 20 % of the registered capital to be increased when the company applies for modifying the registration of registered capital, the time for the other portion shall meet the provisions of the Company Law, the laws on foreign investments and the Regulation on the Administration of Company Registration. If it is otherwise provided for in any law or administrative regulation, this such law or administrative regulation shall prevail.

Where a stock limited company issues any new stocks for increasing the registered capital, the shareholders shall, when subscribing to the new stocks, comply with the relevant provisions on the payment of stocks for the establishment of a stock limited company.

16. When an applicant applies for modifying the registration of its registered capital under any of the following circumstances, if the imported goods as a capital contribution in kind may be exempt from tax under the relevant provisions, the applicant shall give a written explanation to the customs house, and shall, upon the strength of the Confirmation Letter on Domestic or Foreign-funded Projects Encouraged to Develop by the State for Development, first apply for going through the formalities for the clearance of the imported equipment upon a guarantee letter, then apply for going through the tax deduction or exemption formalities after it obtains the post-modification business license:

(1)When a foreign-funded company increases its registered capital, it applies for making capital contributions in kind and has obtained an the approval of the examination and approval organ;

(2)When a foreign investor or foreign-funded company merges a domestic enterprise, it increases the registered capital and applies for imports in kind and has obtained an the approval of the examination and approval organ; and

(3)The foreign-funded company applies for import in kind due to any other change of its registered capital and has obtained an the approval of the examination and approval organ.

17. When a foreign exchange department handles the following businesses, it will no longer demand the applicant to provide the post-modification business license of the company.

(1)A foreign-funded company applies for modifying the foreign exchange registration or opening or modifying the capital account when it increases its registered capital;

(2)A foreign investor or a foreign-funded company applies for handling the foreign exchange registration or opening a capital account when it mergers a domestic enterprise and increases the registered capital thereof at the same time;

(3)A foreign-funded company applies for an approval of the decrease of its registered capital when it decreases the registered capital; and

(4)A foreign-funded company goes through the formalities for the other modifications of other items relating to the foreign exchange registration due to capital changes.

18. A foreign-funded company shall go through the archival filing formalities in the company registration organ for the following items and their the modifications thereof:

(1)The amendments to the items not registered in the articles of association upon approval of the examination and approval organ or the post-amendment articles association (including the change of the total amount of investment);

(2)The directors, supervisors and managers of the company;

(3)The establishment and cancellation of a branch of the company; and

(4)The name lists of the members and persons-in-charge of the liquidation group of the company.

Where a shareholder of the foreign-funded company makes a deferred capital contribution or makes a capital contribution in kind, it is no longer required to go through the archival filing formalities, but it shall go through the modification registration pursuant to the Regulation on the Administration of Company Registration.

To go through the archival filing formalities, the foreign-funded company shall submit to the company registration organ an archival filing application signed by its legal representative, and the relevant documents which can prove the occurrence of the archival filing items. If the archival filing documents are complete, the company registration organ shall approve it and finish effect the archival filing, formalities and shall, at the request of the applicant, issue an archival filing certificate.

19. Where a foreign investor (authorizer) modifies the addressee of service of domestic legal documents (the authorized), it shall sign a new Power of Attorney for the Service of Legal Documents and shall timely go through the archival filing formalities in the company registration organ. If the name, address or any other item of the authorized is changesd, it shall timely go through the archival filing formalities in the company registration organ as well. The company registration organ shall put records in the registration archives of the company.

If the foreign investor fails to go through the above-mentioned archival filing formalities, when the company registration organ serves the domestic legal documents on the authorized recorded in the company registration organ, the service on the foreign investor shall be deemed as complete.

20. Where a foreign-funded company goes through the archival filing formalities for the pledge of the stock rights of shareholders, it shall submit to the company registration organ an application for the archival filling of stock right pledge as issued by the company, the approval document of the examination and approval organ and the pledge contract. After the company registration organ approves the archival filing application, it shall, at the request of the applicant, issue an archival filing certificate which state the name of the pledgor, the proportion of the pledged stock rights in the stock rights of the enterprise, the name of the pledgee, the time period of pledge, the examination and approval organ of the pledge contract, and other relevant items. During the time periodterm of pledge, the pledgor shall not transfer or repledge the pledged stock rights, nor reduce the corresponding capital contribution amount unless it obtains the permission of the pledgee.

21. Where a foreign-funded company applies for revoking the modification registration in accordance with Article 22 of the Company Law, it shall submit to the company registration organ an application for revoking the modification registration and the ruling of the people’s court. If any foreign investment examination and approval item is involved, it shall, besides the said documents, submit an approval document of the examination and approval organ. If the applicant meets the provisions of the Company Law, the company registration organ shall decide to the approve the revocation of the modification registration; if any item recorded in the business license is involved, the company registration organ shall issue the applicant a new business license to replace its former old one.

22. After the occurrence of a any cause for the dissolution of a foreign-funded company, if the company does not form a liquidation group to conduct liquidation within the time limit as required in the Company Law, nor does any creditor request the people’s court to designate a liquidation group to conduct liquidation, the organ of power department, shareholders and creditors of the foreign-funded company may, pursuant to the Measures for the Liquidation of Foreign-funded Enterprises, file an application with the examination and approval organ for a special liquidation. The goods under customs supervision shall first complete the customs formalities and make up payments for the relevant taxes.

23. Where a foreign-funded company applies for deregistration, it shall submit the relevant documents in accordance with Article 44 of the Regulation on the Administration of Company Registration. Among these documents, the liquidation report shall be accompanied by a cancellation certificate issued by the tax organ and a certificate issued by the customs house for proving the completion of or failure to go through the customs formalities. If a foreign-funded company terminates its business operations and applies for deregistration prior to the expiration of its business term, it shall, besides the aforesaid documents, submit the approval document of the examination and approval organ (with the exception of the dissolution or bankruptcy under a court ruling, or the closing up, revocation of business license, revocation of establishment approval, or revocation of company establishment registration upon an order of the administrative organ).

24. When a foreign-funded company establishes or revokes a branch, it shall directly file an application with the registration organ for foreign-funded companies of the place where the branch is located rather than via the original company registration organ.

If the establishment or revocation of a branch is subject to the approval of the relevant department under any law, administrative regulation, decision of the State Council, or special provisions of the state on the restricted projects and service trade sectors for foreign investments, the applicant shall applies apply for registration within 30 days from the date of approval. If it fails to do so within the time limit, the applicant shall request the original examination and approval organ for confirming the validity of the document or file a new application for approval.

25. The company registration organs shall no longer engage in the registration of the representative offices of foreign-funded companies. A representative office that has already been registered is no longer required to goes through the modification or extension formalities. After the expiration of its term, it shall go through the deregistration formalities or it may establish a branch where necessary. A branch of a foreign-funded company may engage in the liaison, consultation and other businesses within the business scope of the company.

Anyone engaging in business operations in the name of a representative office shall be punished by the company registration organ.

26. If any shareholder or promoter of a foreign-funded company fails to deliver or to timely deliver the money or non-monetary property as the capital contribution, it shall, under the applicable principles of the Administrative Provisions on the Registration of Companies’ Registered Capital, be punished by the company registration organ. For a company established prior to January 1, 2006, its capital contribution date shall be the establishment registration date.

For a Sino-foreign contractual company, if it fails to perform the obligation of capital contribution within the time limit, the company registration organ shall, under Article 9 of the Sino-foreign Contractual Enterprise Law, order it to perform the obligation within a time limit. If it still fails to do so, the company registration organ shall punish it according to Paragraph 1 of this Article. If a foreign-funded equity joint company or a solely foreign-funded company fails to perform the capital contribution obligation within the time limit, the company registration organ shall not only punish it under Paragraph 1 of this Article, but also revoke its business license under Article 9 of the Foreign-funded Enterprise Law.

27.Where any foreign-funded company, by exceeding the approved and registered business scope, illegally engages in any business operations relating to a project in the encouraged or permitted category as specified in the Catalogue of Industries for Guiding Foreign Investment, the company registration organ shall punish it in pursuance of Article 73 of the Regulation on the Administration of Company Registration.

Where any foreign-funded company, by exceeding the approved and registered business scope, illegally engages in any business operations relating to a project in the limited or prohibitive catalogue as specified in the Catalogue of Industries for Guiding Foreign Investment, if the company registration organ may determine that “by exceeding the approved and registered business scope, the company illegally engages in business operations for which it should have obtained a license or other approval document”, it shall punish it in accordance with the Measures for Investigating into and Punishing Unlicensed Business Operations. If any crime is constituted, the company shall be subject to criminal liabilities.

28.These Opinions shall apply to the administration on the examination, approval and registration of companies established by investors from Taiwan Region, Hong Kong Special Administrative Region or Macao Special Administrative Region, companies company invested and established by Chinese citizens (overseas Chinese) residing abroad, foreign-funded investment companies, and companies established by a foreign-funded start-up company.