ForeignInvestmentLaw.docx

ForeignInvestmentLaw.docx

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ForeignInvestmentLaw

ForeignInvestmentLawofthePeople’sRepublicofChina（ExposureDraft）

PromulgationAuthorities:

  MinistryofCommerce

PromulgationDate:

  2015.01.19

ValidityStatus:

  valid

ForeignInvestmentLawofthePeople'sRepublicofChina（ExposureDraft）

　　Chapter1GeneralProvisions

　　Chapter2ForeignInvestmentsandForeignInvestors

　　Chapter3AccessAdministration

　　Chapter4NationalSecurityReview

　　Chapter5InformationReporting

　　Chapter6InvestmentPromotion

　　Chapter7InvestmentProtection

　　Chapter8CoordinationinHandlingofComplaints

　　Chapter9SupervisionandInspection

　　Chapter10LegalLiability

　　Chapter11SupplementaryProvisions

Chapter1GeneralProvisions

Article1【LegislativePurpose】

ThepresentLawisformulatedforthepurposeofopeningwidertotheoutsideworld,promotingandregulatingforeigninvestments,protectingthelegitimaterightsandinterestsofforeigninvestors,safeguardingnationalsecurityandpublicinterests,andacceleratingthesounddevelopmentofsocialistmarketeconomy.

Article2【ScopeofApplication】

ThepresentLawappliestoinvestmentswithintheterritoryofChinamadebyforeigninvestors.

Article3【InvestmentProtection】

TheStateprotectsthelegitimaterightsandinterestsofforeigninvestorsandforeign-investedenterprisesaccordingtolaw.

Article4【AbidingbyChineseLaws】

Foreigninvestorsandforeign-investedenterprisesshallabidebyChineselaws,andshallnotimpairthenationalsecurityandpublicinterests.

Foreigninvestorsandforeign-investedenterprisesshallobservesocialmoralityandbusinessethics,actingoodfaith,acceptthesupervisionbythepublic,andundertakesocialresponsibilitiesintheirinvestmentsandbusinessactivities.

Article5【AdministrativeSystemforForeignInvestments】

TheStateadoptsaunifiedadministrativesystemforforeigninvestments.

Article6【NationalTreatment】

ForeigninvestorsmakinginvestmentswithintheterritoryofChinaareentitledtothenationaltreatment,unlessotherwiseprovidedintheCatalogueofSpecialAdministrativeMeasuresforForeignInvestments（hereinafterreferredtoasCatalogueofSpecialAdministrativeMeasures）formulatedinaccordancewithArticle23【CatalogueFormulationProcedures】hereof.

Article7【InvestmentPromotion】

TheStatepromotesandimplementsforeigninvestmentpromotionpoliciessuitableforthesocialistmarketeconomytopropelinvestmentfacilitationandestablishasoundmarketsystemfeaturedwithunification,openingupandorderlycompetition.

Article8  【PrinciplesofOpennessandTransparency】TheStateshallfollowtheprinciplesofopennessandtransparencyinitsadministrationofinvestmentswithintheterritoryofChinamadebyforeigninvestors.

Article9  【ForeignInvestmentRegulatoryAuthorities】TheforeigninvestmentregulatoryauthoritiesundertheStateCouncilareinchargeoftheadministrationandpromotionofforeigninvestmentsnationwideinaccordancewiththepresentLaw.

Theforeigninvestmentregulatoryauthoritiesunderlocalpeople'sgovernmentsatorabovethelevelofcountyareresponsiblefortheadministrationandpromotionofforeigninvestmentswithintheirrespectivejurisdictionsunderstatutoryauthority.

Article10【InvestmentTreaties】

TheStateconcludestreaties,conventionsandagreementsonmultilateral,bilateralorregionalinvestmentsundertheprincipleofequalityandmutualbenefittopromoteanddevelopmutualinvestmentswithothercountriesandregions.

Chapter2ForeignInvestorsandForeignInvestments

Article11【ForeignInvestments】

ForthepurposeofthepresentLaw,theterm"foreigninvestors"referstothefollowingbodiesmakinginvestmentswithintheterritoryofChina:

1.NaturalpersonswithoutChinesenationality;

2.Enterprisesincorporatedinaccordanceoflawsofothercountriesorregions;

3.Thegovernmentsofothercountriesorregionsaswellastheiraffiliateddepartmentsoroffices; and

4.Internationalorganizations.

Domesticenterprisescontrolledbythebodiesprovidedintheprecedingparagrapharedeemedasforeigninvestors.

Article12【ChineseInvestors】

ForthepurposeofthepresentLaw,theterm"Chineseinvestors"referstothefollowingbodies:

1.NaturalpersonswithChinesenationality;

2.TheChinesegovernmentanditsaffiliateddepartmentsoroffices; and

3.Domesticenterprisescontrolledbyanyoftheaforesaidtwobodies;

Article13【DomesticEnterprises】

ForthepurposeofthepresentLaw,theterm"domesticenterprises"referstoenterprisesincorporatedwithintheterritoryofChinainaccordancewithChineselaws.

Article14【Foreign-investedEnterprises】

ForthepurposeofthepresentLaw,theterm"foreign-investedenterprises"referstoenterpriseswhollyorpartlyinvestedbyforeigninvestorsandincorporatedwithintheterritoryofChinainaccordancewithChineseLaw.

Article14【ForeignInvestments】

ForthepurposeofthepresentLaw,theterm"foreigninvestments"referstothefollowinginvestmentactivitiesconducted,directlyorindirectly,byforeigninvestors:

1.Establishadomesticenterprise;

2.Acquireshares,equity,shareofproperty,votingpowerorothersimilarequitiesofadomesticenterprise;

3.Providefinancingwithatermofoneyearormoretoadomesticenterpriseinwhichanyoftheequitiesprovidedintheprecedingparagraphisheld;

4.AcquirethefranchiseofexplorationanddevelopmentofnaturalresourceswithintheterritoryorjurisdictionofChina,oracquirethefranchiseofinfrastructureconstructionoroperation;

5.Acquirerightstoimmovablepropertysuchastherighttousedomesticlandorhouseownership; and

6.Controldomesticenterprisesorholdequityindomesticenterprisesbycontracts,trustorotherways.

ThetransferofdefactocontrolofadomesticenterprisetoaforeigninvestorresultingfromanoverseastransactionisdeemedasinvestmentswithintheterritoryofChinamadebytheforeigninvestor.

Article16【RightstoImmovableProperty】

Foreigninvestorsacquiringlanduseright,houseownershiporotherrightstoimmovablepropertywithintheterritoryofChinaaresubjecttotheprovisionsofrelevantlawsandregulations,andshallcomplywiththeprovisionsofChapter4【NationalSecurityReview】andArticle5【InformationReporting】ofthepresentLaw.

Article17【Non-profitOrganizations】

Foreigninvestorsestablishingnon-profitorganizationsorequitiesinnon-profitorganizationsaresubjecttotheprovisionsofrelevantlawsandregulations.AndshallcomplywiththeprovisionsofChapter4【NationalSecurityReview】andArticle5【InformationReporting】ofthepresentLaw.

Article18【Control】

ForthepurposeofthepresentLaw,theterm"control"meansthatanyofthefollowingconditionsismetinrespectofanenterprise:

1.Holding,directlyorindirectly,morethan50%ofshares,equity,shareofproperty,votingpowerorothersimilarequitiesintheenterprise;

2.Holding,directlyorindirectly,lessthan50%ofshares,equity,shareofproperty,votingpowerorothersimilarequitiesintheenterprise,butareunderanyofthefollowingcircumstances:

（1）Beingentitledto,directlyorindirectly,morethanhalfofthemembersoftheenterprise'sboardofdirectororthesimilardecision-makingbody;

（2）Beingcapableofensuringthatitsnominatedpersonnelcanoccupymorethan50%ofseatsoftheenterprise'boardofdirectorsorthesimilardecision-makingbody; and

（3）Thevotingpoweritholdsissufficienttohavesignificantimpactontheresolutionsoftheboardofshareholders,generalassemblyofshareholders,boardofdirectorsorotherdecision-makingbody.

3.Exertingdecisiveimpactontheenterprise'smanagement,finance,humanresourcesortechnologiesbycontracts,trustorotherways.

Article19【ActualControllers】

ForthepurposeofthepresentLaw,theterm"actualcontrollers"referstonaturalpersonsorenterprisesthatcontrol,directlyorindirectlyforeigninvestorsorforeign-investedenterprises.

Chapter3AccessAdministration

Section1GeneralProvisions

Article20【AccessSystemforForeignInvestments】

TheStateadoptsaunifiedaccesssystemforforeigninvestments.Tothefieldsthatareprohibitedorrestrictedforforeigninvestments,theCatalogueofSpecialAdministrativeMeasuresapplies.

Article21【AuthoritiesinChargeofForeignInvestmentAccess】

Theauthoritiesinchargeofforeigninvestmentaccess,inconjunctionwithotherauthoritiesconcerned,administerforeigninvestmentaccess.

Article22【CatalogueofSpecialAdministrativeMeasures】

AnytreatmentgrantedtoforeigninvestorsandtheirinvestmentswhichislowerthanthattoChineseinvestorsandtheirinvestmentsorrestrictionsimposedtoforeigninvestorsandtheirinvestmentsshallbeprovidedintheformoflaws,administrativeregulationsordecisionsoftheStateCouncil,andshallbeincludedintotheCatalogueofSpecialAdministrativeMeasures.

Article23【ProceduresforCatalogueFormulation】

TheCatalogueofSpecialAdministrativeMeasureswillbeformulatedandpromulgatedbytheStateCouncilinaunifiedmanner.

TheforeigninvestmentregulatoryauthoritiesundertheStateCouncilshall,inconjunctionwithotherauthoritiesconcerned,proposetoformulateoradjusttheCatalogueofSpecialAdministrativeMeasuresinaccordancewiththetreaties,conventionsandagreementsformultilateral,bilateralorregionalinvestmentsaccededbytheState,administrativeregulationsordecisionsoftheStateCouncil.SuchproposeissubjecttothedeliberationbytheStateCouncil.

Article24【ClassificationofCatalogue】

TheCatalogueofSpecialAdministrativeMeasuresisclassifiedintotwocategories:

CatalogueoftheProhibitedand