BIZCHINA / Policies
Regulations of Yunnan Province for Foreign Investment
(yn.gov.cn)
Updated: 2006-05-17 11:11
Chapter 1 General Provisions
Article 1 On the basis of the state laws and regulations and
particularities of the province, these regulations are hereby set forth
for the purpose of encouraging foreign investment in the province,
protecting the legal rights and interests of foreign-funded enterprises,
regulating the actions of the administrative organizations thus promoting
foreign investment in the province.
Article 2 All the organizations and individuals falling under the
jurisdiction of the province which are involved in foreign investment and
its administration are subject to these regulations.
Article 3 The Foreign Investment Office of the Provincial Government is
responsible for organizing and coordinating foreign investment in the
province. The Provincial Government Departments for planning economic &
trade, foreign trade and economic cooperation, foreign affair,
construction, environmental protection and administration for industry &
commerce are obliged to provide their services to foreign investors in
line with respective area of responsibility.
Article 4 Foreign investors propose their investment projects which
should be in accordance with the Investment Guide and Guidelines For
Foreign Investment published by the province and the state respectively.
Foreign investment is encouraged in the following fields: infrastructure,
agriculture, bio-industry, mining, new-technology, tourism, dormitory
housing project, environmental protection.
Article 5 Foreign investment is encouraged in various forms including
equity joint venture, contractual venture and solely-funded enterprise.
Other forms are also possible such as joint shareholding, majority
shareholding, joint operations, merger, outright purchase, leasing,
trusteeship, contracting out, renovation, restructuring and mixed
ownership of the state owned, collectively owned, or private enterprises.
Build-Operate-Transfer, purchase of operation rights and utility fee
collecting right are also options for infrastructure projects.
Article 6 Foreign-funded enterprises are under the jurisdiction of the
state laws and regulations and must not endanger national security or
public interests. The contractual obligations of all parties will be
overseen by the relevant government departments.
Article 7 Government offices at various levels will give prizes to those
who have made remarkable contributions to attract foreign investment.
Details will be set down by the provincial government.
Chapter 2 Establishing, Adapting and Terminating the Foreign-Funded
Enterprises
Article 8 For the convenience of foreign investors, there will be a
high-efficient one-stop assessment & approval and registration procedure
to be used when establishing foreign-funded enterprises.
Article 9 For projects which are in line with the guiding policy, the
relevant government offices at various levels should finish all the
formalities relating to the approval of project proposal, feasibility
study, contract and articles of association followed by the issue of the
business license within 15 working days after receipt of all the required
documents.
Article 10 Those projects which are in line with the guiding policy and
whose total investment is within provincial approval limits falling into
the following categories will be registered directly. 1. solely foreign
funded enterprises; 2. Equity joint venture and contractual joint venture
enterprises with no state contribution; 3. Scientific enterprises
encouraged by the state, export-oriented enterprises whose production and
construction requires no provincial input. For the above-mentioned
enterprises, the industrial and commercial administration should finish
all the registration formalities within 5working days after receipt of
all requires documents.
Article 11 The above-mentioned enterprises whose business requires
operating permits will obtain their business license before applying for
any permits.
Article 12 Any alterations to the major terms of contracts will be
handled by the original approval departments, and must be finished within
15 working days after receiving all required documents. Those
enterprises, which are registered directly, will have their alterations
approved by directly approaching the original registration organization.
Article 13 Upon termination, foreign funded enterprises will go through
liquidation procedures before submitting the termination for approval to
the original departments. Those enterprises, which are registered
directly, will have their termination approved by directly approaching
the original registration organization.
Chapter 3 Protection of Rights and Interests of Foreign Funded Enterprises
Article 14 Within their scope of business, foreign funded enterprises are
entitled to conduct their business activities independently. Personal
rights and property of foreign investors and employees are protected
under state laws.
Article 15 The patents, copyrights, trademarks, knowledge, confidential
technology & business information, computer software and brand names of
foreign investors are protected under state laws.
Article 16 Foreign funded enterprises must enjoy equal treatments in use
of water, electricity, gas and telecommunications as well as from
financial, insurance, legal, employment, consultancy, design and
advertising services.
Article 17 Foreign funded enterprises may reserve in their bank account
of foreign exchange from their operational income. They may also sell
their foreign exchange income to the bank or buy from the foreign
exchange pool in case of need. Foreign investors may remit their
legitimate income abroad directly from their foreign exchange account or
by buying designated banks.
Article 18 The family dependents of foreign investors and foreign
employees enjoy equal rights to the residents of the province in public
transportation, recreation, medical treatment, education and tourism.
Article 19 Unless required by law, foreign funded enterprises may make
their own decision whether to join social organizations or participate in
competitions, commendations, donations or sponsorship.
Article 20 Foreign funded enterprises are entitled to refuse unlawful
inspections or other activities which may affect their daily operation.
They are also entitled to refuse any extortion or sponsorship or
fundraising. Apart from items for fees stipulated by the laws,
regulations and provisions, no departments are permitted to charge other
fees unless it is following Administrative Measures of Yunnan Province on
the Fee Charging Card for Foreign Funded Enterprises.
Article 21 Should foreign funded enterprises consider their legitimate
rights and interests to be infringed by the conduct of any government
departments or staff, they may lodge a complaint with the Complaint
Centre for Foreign Funded Enterprises. They may also apply for
re-examination or file a law suit in the courts.
Chapter 4 Preferential treatment for Foreign Funded Enterprises
Article 22 Foreign Funded Enterprises concerned with energy,
communication, water conservancy, environmental protection, agriculture,
forestry and animal husbandry and other related industries with terms of
operation longer than 10 years will be exempt from corporate tax for 2
years starting from the first profit-making year. These enterprises will
receive a full tax rebate from the financial bureau for the third, fourth
and fifth years of operation.
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