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Establishment

1. Tips on Establishment of Enterprises

1) Organs responsible for examination and approval of Contract and Memorandum of Association

Chongqing Foreign Trade and Economic Relations Commission;

Foreign Trade and Economic Relations Commission (or bureaus and offices) of different districts, counties and cities

Administrative Committee of Chongqing Economic & Technological Development Zone

Administrative Committee of Chongqing High-Technology Development Zone

Administrative Committee of Chongqing New North Zone

 

2)  Project Approval Authority

Industrial project: Chongqing Economic Commission

None-industrial project: Chongqing Development and Reform Commission

Commercial projects: Chongqing Commercial Commission

For any project involved with state assets, the report on feasibility of project shall be submitted to related sections for check and examination.

Any project with less than USD 30 million of investment and listed in the "National Category of Encouraged or Permitted Foreign-funded Projects" shall be submitted to Chongqing Foreign Trade and Economic Relations Committee at district/county/city level where the project is located for examination and approval.

Any project, if located within the Chongqing Economic & Technological Development Zone, Chongqing High-Tech Development Zone and Chongqing New North Zone, with less than USD 30 million of investment and belonging to "National Category of Encouraged or Permitted Foreign-funded Projects" shall be submitted to the administrative committee of the zone for examination and approval.

Any project with less than USD 100 million of investment and listed in the "National Category of Encouraged or Permitted Foreign-funded Projects" and project with less than USD 50 million of investment and listed the restricted project shall be submitted to Chongqing Foreign Trade and Economic Relations Committee for examination and approval of contract and memorandum of association according to the state provisions.

Any project with more than USD 100 million of investment and listed in the "National Category of Encouraged or Permitted Foreign-funded Projects" and project with more than USD 50 million of investment and listed the restricted project shall be submitted to the Ministry of Commerce via Chongqing Foreign Trade and Economic Relations Committee for examination and approval. 

2.  Procedure for Establishment of Foreign-Invested Enterprises

1)  Sino-Foreign Joint Venture (joint venture)

(1) Partners of the joint venture shall jointly submit to organs in charge of examination and approval related documents (application form for establishing the joint venture; report on feasibility study compiled by both parties; protocol, contract and memorandum of association signed under the authorization of both parties; names of president, vice-president and board of directors appointed by both parties; other documents required in the examination and approval).

(2) The organ in charge of examination and approval shall decide to ratify or reject the application within 7 working days after receipt of all required documents.

(3) The applicant shall register and obtain business certificate in the industrial and commercial administrations within 30 days upon receipt of the ratification. The date on the business certificate is the date when the enterprise establishes.

2) Sino-foreign Investment Cooperative Enterprises (cooperative enterprise)

(1) Chinese Partner submits to organs in charge of examination and approval related documents, including project proposal on setting up the cooperative enterprise, together with documents checked and consented by responsible government departments; report on feasibility study compiled by both parties, together with documents checked and consented by responsible government agency; protocol, contract and memorandum of association signed by legal representative of both enterprises or under the authorization of both parties; business certificates of both parties, or certification of their registry and credit, and valid certificate of legal representatives—if the foreign partner is a natural person, he or she should offer valid certificate on his identification, experience summary and credit; name list of president, vice-president and board of directors accredited both parties, or list of director, deputy-director and members of the united administrative committee; other documents required during the examination and approval.

(2) The organ in charge of examination and approval shall decide to ratify or reject the application within 7 working days after receipt of all required documents.

(3) The approved cooperative enterprise shall register and obtain business certificate in the industrial and commercial administrations within 30 days upon receipt of the ratification. The date on the business certificate is the date when enterprise establishes.

3)  Foreign-Invested Enterprise

(1) The government at county level or above where the enterprise is located shall submit to organs in charge of examination and approval related documents, including application form for setting up the enterprise; report on feasibility study; protocol of the enterprise; name list of legal representative, or board of directors; legal certificates of the foreign investor and his or her valid credit; listing of material to be imported; other documents required during the examination and approval.

(2) The organ in charge of examination and approval shall decide to ratify or reject the application within 7 working days after receipt of all required documents.

(3) The foreign investor shall register and obtain business certificate in the industrial and commercial administrations within 30 days upon receipt of the ratification. The date on the business certificate is the date when enterprise establishes.

   

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