Regulations of Jilin Province on Review/approval of Foreign-funded Enterprises
 Regulations of Jilin Province on Review/approval of Foreign-funded Enterprises

 

In accordance with the current laws and regulations of the state, there shall be a review/approval system for the establishment of foreign-funded enterprises. The amount of investment and the project category based on the “Guiding Catalogue of Foreign-funded Industries” will be the main basis for deciding the limits for review/approval authorities at all levels. 
The provincial economic and technical cooperation authority shall be responsible for review/approval of establishment and modification of any foreign-funded enterprise with total investment being US$ 300 million in the encouragement category and in the permission category and US$ 50 million in the limited category (hereinafter referred to as the “quota”) of the “Guiding Catalogue of Foreign-funded Industries”. The quota of foreign-funded Co., Ltd. will be based on its registered capital; the quota of foreign-funded Co., Ltd. through system transformation will be based on its net assets after appraisal; the quota of enterprise established through foreign investor’s merger & acquisition will be based on the merger & acquisition transaction amount. In addition, for any single capital increase under the quota, any establishment and modification of foreign-funded enterprise over the quota in the encouragement category with no need for national comprehensive balancing, any foreign-funded investment company with registered capital being under US$ 300 million, any foreign-funded entrepreneurship enterprise with total capital being under US$ 300 million, and any foreign-funded entrepreneurship investment management enterprise, the project economic and technical cooperation authority shall be responsible for review/approval of its establishment and modification, including any enterprise in the service sector except for those in need of review/approval by the Ministry of Commerce in accordance with laws and regulations.
The local economic and technical cooperation authority and the development zone with the review/approval authority shall be responsible for review/approval of any foreign-funded enterprise with total investment being under US$ 50 million in the encouragement category and the permission category of the “Guiding Catalogue of Foreign-funded Industries” (except for those involved in the national macro regulations, special sector restrictions, merger & acquisition projects and special regulations of the state, and the project authority of commerce shall be responsible for review/approval of those enterprises).
Meanwhile, in order to honor its commitments to the WTO, based on relevant laws and regulations and rules on foreign investments, China has enacted and promulgated more than 40 laws and regulations and rules on the service trade sector, including finance, commerce, communication and transportation, film and TV play production, etc. Relevant laws and regulations shall be observed in case of review/approval of any foreign-funded project in the service trade sector.
 
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