Establishment Of Examination And Approval Procedures For Foreign Investment In Import And Export Commodities

Establishment of examination and approval procedures for foreign investment in import and export commodities

(October 9, 1995, the national import and Export Commodity Inspection Bureau and the Ministry of foreign trade and economic cooperation)

Article 1 in order to strengthen the management of import and export commodity inspection, ensure the quality of import and export commodity inspection, and promote the development of foreign trade, the people's Republic of China has formulated these provisions in accordance with the relevant laws and regulations of the state.

The second foreign investment import and export commodity inspection and appraisal company as mentioned in the present Provisions refers to a foreign invested enterprise (hereinafter referred to as the foreign investment inspection company), which is entrusted by the consignee and consignor and the consignee of the import and export goods in the form of Sino foreign joint venture and cooperation, and acts as the third party in the inspection, appraisal and certification of the import and export commodities.

The third article allows foreign investors to establish Sino foreign joint ventures and cooperative import and export commodities inspection and appraisal companies in China.

No sole proprietorship import and export commodity inspection and certification company shall be established.

The fourth is approved by the foreign investment inspection company, which can operate part or all of the following businesses: the inspection, appraisal and certification of the quality, specification, quantity, weight, packing, damage, value, and shipping technical conditions of the import and export commodities.

The fifth Chinese investors of foreign investment inspection companies should be approved, approved or designated by the competent authorities to engage in import and export commodity inspection and appraisal work.

Foreign investors of foreign investment inspection companies should be engaged in more than 3 years' inspection, appraisal and certification of import and export commodities. They have management personnel, professional technicians and technical equipment that are compatible with the bidding business, and have stable customers and enterprises with certain international reputation.

The sixth foreign investment inspection company's minimum registered capital is US $500 thousand, and there must be a fixed place and technical conditions and professionals suitable for its business.

The seventh foreign investment inspection company's operating period is generally not more than 30 years.

The establishment of the eighth foreign investment inspection company is approved by the Ministry of foreign trade and economic cooperation of the People's Republic of China (hereinafter referred to as MOFTEC).

The qualification and business scope of the foreign investment inspection company shall be examined and managed by the state import and Export Commodity Inspection Bureau of the People's Republic of China (hereinafter referred to as the State Commodity Inspection Bureau).

Ninth procedures for the establishment of foreign investment inspection companies:

(1) a Chinese investor shall report to the competent authorities on the application for establishing a foreign-funded inspection company. After approval by the competent authorities, the Chinese foreign investors shall submit the opinions to the Ministry of foreign trade and economic cooperation after signing the opinions of the foreign trade department and the local Commodity Inspection Bureau of the place where the foreign trade and Economic Cooperation Department is located. The Chinese investor shall report to the competent authorities on the application of the relevant documents for the establishment of the foreign-invested inspection company for the Chinese investors directly under the State Council, the Commission and the Bureau, and submit it to the Ministry of foreign trade and economic cooperation after the consent of the competent authorities.

The Ministry of foreign trade and economic cooperation has sought the opinions of the State Commodity Inspection Bureau after receiving the report.

(two) the State Commodity Inspection Bureau shall examine the project proposal and feasibility study of applying for establishing a foreign-invested inspection company, and examine the technical strength, technical level, technical equipment and business scope of the foreign-invested inspection company.

After examination is qualified, a written opinion on qualification examination of foreign investment inspection company shall be issued.

(three) the Ministry of foreign trade and economic cooperation has obtained the approval of the State Commodity Inspection Bureau for examination of the documents submitted.

After approval, the certificate of approval for foreign invested enterprises shall be issued.

(four) Chinese investors apply to the administrative department for Industry and Commerce for registration procedures and obtain business licenses with relevant documents issued by the Ministry of foreign trade and economic cooperation.

(five) the foreign investment inspection company can go to the State Commodity Inspection Bureau for the operation certificate of foreign investment inspection company after obtaining relevant documents such as approval certificate and business license.

The tenth application for the establishment of a foreign-invested inspection company shall be submitted to the Ministry of foreign trade and economic cooperation for the following documents:

(1) the opinions of the local foreign trade and economic cooperation departments or the State Council departments, committees and bureaus on the application for establishing foreign investment inspection companies;

(two) project proposal for establishing a foreign-invested inspection company;

(three) feasibility study reports, contracts and articles of association signed by all investors;

(four) credentials, registration certificates and copies of the legal representatives of the investors;

(five) other documents required by MOFTEC.

All the above documents shall be official documents, except those already indicated as photocopies.

Where a non legal representative signs a document, he shall issue a power of attorney for the legal representative.

Eleventh foreign investment inspection companies shall set up branches according to these regulations.

Twelfth foreign investment inspection companies should apply for the following conditions:

(1) to replace the joint venture party;

(two) change the scope of operation.

The thirteenth foreign investment inspection company established before the promulgation of this Regulation shall, within 3 months from the date of promulgation of this regulation, apply to the State Commodity Inspection Bureau for the qualification certificate of foreign investment inspection company with the approval certificate issued by the Ministry of foreign trade and economic cooperation or its authorized organ.

If it fails to do so, it may not engage in business related to inspection, appraisal and certification of import and export commodities.

Fourteenth the foreign trade and economic cooperation departments shall agree with the local commodity inspection authorities when approving foreign investment enterprises involving import and export commodity inspection, appraisal and certification.

After approval, it is reported to the Ministry of foreign trade and economic cooperation and the State Commodity Inspection Bureau for the record.

The fifteenth provision shall come into force on the date of promulgation.