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DECISION CONCERNING THE REVISION OF ARTICLE 100 IN REGULATIONS FOR THE IMPLEMENTATION OF THE CHINESE-FOREIGN EQUITY JOINT VENTURES

    Article 100 in "Regulations for the Implementation of the Law of the
People's Republic of China on Chinese-Foreign Equity Joint Ventures",
promulgated by the State Council on September 20, 1983, provides: "The
duration of a joint venture shall be decided upon through consultation among
all the parties to the joint venture according to the actual conditions of
the particular lines of business and projects. The duration of a joint venture
engaged in an ordinary project shall, in principle, be between 10 to 30 years.
Duration for those engaged in projects requiring large amounts of investment,
long construction cycles and low profit rates on the capital may be longer
than 30 years." This Article has been revised and now it reads: "The duration
of a joint venture shall be decided upon through consultation among all the
parties to the joint venture according to the actual conditions of the
particular lines of business and projects. The duration of a joint venture
engaged in an ordinary project shall, in principle, be between 10 to 30 years.
Duration for those engaged in projects requiring large amounts of investment,
long construction cycles and low profit rates on the capital, or in projects
producing highly sophisticated products or products well selling in the
interational market,with advanced technology or key technology offered by the
foreign parties to the joint ventures, may extend to 50 years. The duration of
a joint venture may be longer than 50 years, if specially approved by the
State Council."