Laws of the People's Republic of China

The Ministry of Science And Technology, the State Administration for Industry And Commerce

Circular of the Ministry of Science And Technology, the State Administration for Industry and Commerce Concerning Share-holding with Priced High/new Technological Research Findings

GuoKeFaZhengZi [1999] No.351

August 19, 1999

The science and technology commissions and administrations for industry and commerce of various provinces, autonomous regions, municipalities directly under the Central Government and municipalities separately listed on the State plan:

The Provisions Concerning the Facilitation of the Conversion of High/new Technological Research Findings of the Ministry of Science and Technology, the Ministry of Education, the Ministry of Personnel, the Ministry of Finance, the People's Bank of China, the State Administration of Taxation and the State Administration for Industry and Commerce transmitted by the general office of the State Council on March 30, 1999 made new provisions for shareholding or investment with high/new technological research findings. Related issues for the implementation of the Regulations are now notified as follows:

Investment or shareholding with high/new technological research findings in companies with limited liability or non-company enterprises should continue to be governed by the examination and authentication procedures in accordance with the Provisions Concerning the Facilitation of the Conversion of High/new Technological Research Findings and its Implementing Measures jointly promulgated by the Ministry of Science and Technology and the State Administration for Industry and Commerce. However, if the high/new technological research finding is priced at more than 5 million RMB and exceeds 35% of the registered capital of the company or enterprise, the research finding in question should be examined and authenticated by the Ministry of Science and Technology.