Laws of the People's Republic of China

PROVISIONAL REGULATIONS, ISSUED BY THE GENERAL
BUREAU OF INDUSTRIAL AND COMMERCIAL
ADMINISTRATION OF THE PEOPLE'S REPUBLIC OF
CHINA, ON THE STANDARDS OF REGISTRATION FEES TO
BE PAID BY JOINT VENTURES USING CHINESE AND
FOREIGN INVESTMENT

  (Promulgated by the General Administration of Industry
and Commerce on February 2, 1982) 

SUBJECT: EQUITY JOINT VENTURES

ISSUING-DEPT: STATE ADMINISTRATION OF INDUSTRY & COMMERCE

ISSUE-DATE: 02/02/1982

IMPLEMENT-DATE: 02/02/1982

LENGTH: 654 words

TEXT:

Provisional regulations on the standards of registration fees and re-registration fees to be paid by joint ventures using Chinese and foreign investment (to be referred to hereafter as joint ventures) are hereby drawn up according to the prescriptions of Article Eight of the "Rules on the Registration and Management of Joint Ventures Using Chinese and Foreign Investment" promulgated by the State Council of the People's Republic of China. The regulations are as follows:

(1) Joint ventures whose establishment has been approved by the Foreign Investment Management Committee of the People's Republic of China or its commissioned people's governments at provincial, municipal or autonomous region levels or ministries, committees or general bureaus under the State Council, and those which have received certificates of approval from the Foreign Investment Management Committee should pay registration fees according to the following standards, when they get registered and receive business licenses from the People's Republic of China.

(a) The required registration fees stand at 1/1000 of the registered capital if the capital is at or below the 10 million yuan level.

(b) If the registered capital exceeds the 10 million yuan level, the required registration fees stand at 0.5/1000 for the sum above the 10 million yuan level, while the registration fees for the sum below the 10 million yuan level remain at 1/1000.

If a joint venture intends to increase its capital after registration, the registration fees will be re-calcuated on the basis of the total sum of the capital. The joint venture should then pay additional registration fees for their increased capital according to the above prescriptions.

(2) If a joint venture asks for re-registration or for a new business license when it has been granted permission to move to a new place; change its direction of production; increase, decrease or transfer the possession of its registered capital; replace its director or general manager; or to extend the period of contract, it should pay 100 yuan each time as re-registration fee.

In case it only increases its registered capital after having paid the required registration fees, it does not have to pay a re-registration fee.

(3) If both the Chinese party and the foreign party are engaged in joint ventures in each other's country, and if the difference of the standards of registration fees is too great, they may seek a settlement through negotiations on the basis of reciprocity.

(4) Ventures jointly run by Chinese and foreigners and those using only foreign investment and run exclusively by foreigners with the permission of the Foreign Investment Management Commitee of the People's Republic of China or its commissioned people's governments at provincial, municipal or autonomous region levels should also pay registration or re-registration fees according to the foregoing provisions.

(5) Ventures invested and run exclusively by overseas Chinese, Hongkong and Macao compariots or ventures invested and run jointly by them and mainland enterprises (including those run on the basis of co-operation) pay only half of the registration or re-registration fees that joint ventures pay.

(6) In the event that the above -said enterprises need legal papers for identification when they go to start business in other countries, they will be supplied with "Business Certificates of the People's Republic of China" by the General Bureau of Industrial and Commercial Administration of the People's Republic of China. A fee of 20 yuan will be charged for each such certificate.

(7) The provisional regulations come into force on the day when they are promulgated. The above-said enterprises should pay retroactive registration fees if their establishment was approved and registered before the promulgation of these provisional regulations but no registration fees have yet been paid.