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Provisional Regulations on the Establishment of Foreign-Funded Joint Stock Companies Limited
(Promulgated by Decree No.1 of the Ministry of Foreign Trade and Economic Cooperation on January 10, 1995)

Article 1

Article 2

Article 3

Article 4

Article 5

Article 6

Article 7

Article 8

Article 9

Article 10

Article 11

Article 12

Article 13

Article 14

Article 15

Article 16

Article 17

Article 18

Article 19

Article 20

Article 21

Article 22

Article 23

Article 24

Article 25

Article 26

Article 27

Article 28

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Manifest

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China - Provisional Regulations on the Establishment of Foreign-Funded Joint Stock Companies Limited, 1995

MOFTEC

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Provisional Regulations on the Establishment of Foreign-Funded Joint Stock Companies Limited
(Promulgated by Decree No.1 of the Ministry of Foreign Trade and Economic Cooperation on January 10, 1995)

Article 18

When applying to be transformed into companies, State and collective enterprises, in addition to the other requirements stipulated in this set of procedures, shall also meet the following conditions:

(1) The enterprise must have been in operation for at least five years and have a record of profit-making in the past three consecutive years;

(2) More than 25% of the enterprise's registered capital have been subscribed by foreign shareholders with convertible foreign currency;

(3) The scope of operation of the enterprise conforms to the industrial policy for FFEs.

Chinese and foreign shareholders, as promoters of the company, sign agreements and articles of association for the establishment of the company and submit the documents to competent departments in the place where the FFE is located for initial approval, which will then move to MOFTEC for final ratification.

When applying for transformation into companies in this case, the following documents shall be submitted:

(1) Evaluation report of the original enterprise's assets;

(2) Written application for the establishment of the company;

(3) Feasibility study reports;

(4) The promoters' agreement;

(5) The company's articles of association;

(6) The business license and financial statements of the past three consecutive years of the original enterprise;

(7) Documents testifying the promoter's capital credibility;

(8) Other documents deemed necessary.


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