BIZCHINA / Investment
Investment Procedure Of Guizhou Province Ways of Investment
(investgz.gov.cn)
Updated: 2006-05-18 10:27
Foreign companies, enterprises and other economic organizations and
individuals, as well as thosein Hong Kong, Macao and T8iwan are all
welcome to invest in Guizhou Province by choosing any ways of the
following:
-To start Sino-foreign joint ventures, cooperative enterprises and
exclusive investment in enterprises, and to inaugurate limited company
(Ltd. ).
-To transfer the useful advanced technologies.
-To operate enterprises by concluding contracts or on lease, and to
exploit the mineral resources.
-To bring the barren hills under cultivation by concluding contract, and
to develop the aquatic resources.
-To acquire the right to use land to develop real estate and tourism
items.
-To purchase shares and/or bonds of the enterprises.
-BOT form
-To invest in other forms of business permissible by the laws and
regulations.
. KINDS OF CAPITAL TO INVEST
he investment may be in the following three forms:
(1) Free convertible currency.
(2) The evaluated machinery, equipment, raw material and other goods and
materials.
(3) The evaluated right of industrial property, technique for special use
or right of other properties that are needed in production.
. INQUIRE CONSULTATIONS ANDSELECT PROJECTS
he investors may directly contact The Outside Investment invitation
Bureau and other departments concerned of Guizhou Province ,or units to
contract the projects concerned ,or consultative services, or contact
Chinese or Guizhou��s institutions stationed in other countries to select
projects to invest and to choose partners to cooperate with or agents,
then to sign letters of intention or agreements.
. THE WORKING PROCEDURE TO APPLY FOR STARTING FOREIGN INVESTED
ENTERPRISES AND FOR EXAMINATION AND APPROVAL
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1. Work out project proposal and feasibility study report
he project proposal to build a Sino-foreign joint venture or a
cooperative enterprise is to be worked out and submitted by the Chinese
party to the department in charge of enterprise which ,having examined
and consented to the proposal , is responsible for presenting it to a
higher authorized department for further examination and approval
according to the competence defined by this provincial government . The
specific terns of reference are as follows : All those projects which are
in concord with the investment orientation specified by the state or by
the provincial government , which need neither comprehensive balance
within the whole province in its conditions of construction and
production , nor are they limited by administration of quota license of
the raw materials importation and the export of commodities , for those
which have a total investment under $5,000,000, the examination and
approval are to be carried out by the government of each prefecture, or
autonomous prefecture, or municipality under the jurisdiction of this
province , or the responsible department of the provincial government (if
the Chinese parties are the medium or large-size enterprises approved and
authorized by the for government of Guizhou Province , they may carry out
examination of and approve their proposals by themselves according to the
provisions concerned).
All those which have a total investment of less than $3,000,000 are
subject to the examination and approval by the respective government of
each municipality , county and the district under the jurisdiction of the
municipality of this province .
All those which have a total investment of more than $5,000,000 but less
than $10,000,000 or which do not have much investment but need a
comprehensive balance of conditions as supply of capital or raw materials
for their construction and putting them into operation are subject to the
examination and approval by the Planning Commission of Guizhou Province
if they are in the category of capital construction and by the Economic
and Trade Commission of Guizhou Province if they are in the category of
technical transform .Having their project proposals examined and approved
by the responsible institutions concerned , all to the joint venture
parties have to work out a feasibility study report by their joint effort
and submit it to be approved by the authorities mentioned above.
Any project that is confined within the limits imposed by the state on
foreign Investment-without distinction of the amount of its local
investment-is Subject to the examination and approval by the Planning
Commission or Economic and Trade Commission of Guizhou Province if it is
in the restriction Class A. and to the examination and approval by the
administrative departments in charge of the classification of trades
under the State Council if it is in the restriction Class B. The project
feasibility study report is subject to the examination and approval by
the Planning Commission and the Economic and Trade Commission of Guizhou
Province respectively according to the classification of the project.
In general. If the project has a total investment under 5500.000. the
applicants only need to have their feasibility study report examined and
approved. While the project with a total investment above $500,000 but
under $1,000,000 may be examined and approved once and for all with both
its project proposal and its feasibility study report presented together.
If the foreign investors plan to start exclusive investment in
enterprises. they should lodge an application to the county government or
a higher government (the general office of the prefecture ) where their
enterprises are located. When they get the written replies from them ,
the investors have to present the documents to the local departments in
charge of foreign economic and trade affairs according to the term of
reference of examination and approval
2. How to apply for inaugurating foreign invested enterprises When their
feasibility study report to start a Sino-foreign joint venture or
co-operative operation business is examined and approved by the relevant
institutions, the applicants are required to present the contract signed
by both Chinese and foreign parties, their articles of association , the
name list of the members of the aboard of directors and other relevant
documents to local departments in charge of foreign economic and trade
affairs to be examined and approved .
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he applicants of the exclusive foreign enterprises are required to
present their feasibility study report , articles of association of their
businesses , the name list of members of the board of directors and other
relative documents directly the local departments in charge of foreign
economic and trade affairs to be examined and approved according to the
terms of reference
3. How to attend to the registration of businesses
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he person in charge of the foreign enterprise need to have his businesses
registered by presenting the approved documents. certificates and other
documents to the Administration Bureau of industry and Commerce of this
province, then to have them registered at Guiyang Customs house at the
Finance Department and the Foreign Exchange Control of Guizhou Province
and at the Taxation Administration in the location of their businesses.
. REQUIREMENTS FOR THE APPLICATION MATERIALS 1. For Sino-foreign joint
ventures and cooperatively managed enterprises
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(1) The report of application for setting up a cooperative enterprise on
which the comments were written by the departments responsible for the
work of Chinese Party to a joint venture (2 master copies)
(2) Agreement, contract and rules of a co-operative enterprise (10 copies
each including 1 master copy) on which the comments were written by the
authorized agents of parties to a joint venture, if the above- mentioned
documents are signed by a non- legal agent, the certificate of
authorization signed by the legal agent should be submitted (master copy).
(3) The feasibility study report and approved
document on the project of joint management which were jointly worked out
by the parties to a joint venture and which have been approved by the
approving authorities concerned (1 master copy and 1 duplicate)
(4) The certificate of authorization on the name of a co-operative
enterprise issued by the industrial and commercial administration (2
duplicates)
(5) The name of members in the board of directors for a co-operative
enterprise and director's effective certificate of identity (2 duplicates)
(6) Documents concerning the appointed directors respectively issued by
parties to a joint management (1 master copy and duplicate)
(7) Effective legal certificate including business license ,business
registration certificate, etc.(2 duplicates each ) provided by the
parties to a co-operative nterprises.
(8) Credit certificate for off shore investors (1 master copy, 1
duplicate)
(9) Chinese Party should provide the approved document issued by the land
management department of relevant level, if it makes a financial
contribution in the form of land using power and the confirming book and
approved document issued by State-Owned Assets Administration if it makes
a financial contribution in form of the state-owned assets.
(10) Other document needed for submitting to a higher level for
examination and approval,
2. For the exclusive foreign enterprises
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(1) Application report being submitted to the departments in charge of
examination and approval for the foreign enterprise via the people's
government of the county or the cities over the county level where
co-operative enterprise is to be set up (2 master copies).
(2) Application form concerning the foreign- funded enterprise to be set
up (2 master copies)
(3) Feasibility study report of the foreign-funded enterprises (2 copies)
(4) Regulations of the foreign -funded enterprise signed by the foreign
investors (10 copies including 2 master copies)
(5) The documents on the following contents which have been approved and
signed by the foreign investor concerning the name list of the legal
representatives and the members of the directors of the board and the
effective certificates of identity of legal representatives and directors
(2 copies) if the documents are signed by non legal representative , the
certificate of authorization should be submitted.(1 master copy).
(6)Effective law certificate for foreign investors (2 copies each )
(7)Credit certificate for foreign investors (master copy)
(8)Written reply made by the people��s governments of the counties and
cities over the county where the foreign-funded and enterprise is to be
setup concerning the matter of the setting up of the foreign-funded
enterprise (2 master copies)
(9)Notice of authorization issued by the Industrial and Commercial
Administration concerning the name of enterprise (2 copies )
(10) Other documents needed for submitting to the department concerned.
EXAMINATION AND APPROVAL AND REPLIES OF THE APPLICATION DOCUMENTS
1.It is to decided within 20 days to approve or disapprove any project
proposal feasibility study reports contracts and articles of association
which are within the authorities of this province to examine and approve.
2.It is to be decide within 15 days to present of not to present the
documents that are subject to the right of reference of the state
departments concerned.
3.Any application for a license that it is in line with the conditions
regulated is to be verified and the license granted within 10 days by the
Administration Bureau of Industry and Commerce concerned, while for those
which do not ,statement explaining reasons shall be made as the case may
be.
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