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　What shall be included in the project proposal of a Sino-foreign joint venture?
(1) The Chinese partner: it shall include the name of the Chinese partner, a briefing about its production and business, the legal address, the name and title of the legal person as well as the name of the authoritative bureau (department).
(2) The purpose of cooperation: The emphasis shall be laid on the necessity and the probability of exporting to make profit & introducing technologies.
(3) The foreign partner: it shall include the name of the foreign company, the registered country, the legal address and legal person together with his name, title and nationality.
(4) The business scope and scale: The necessity of the project construction, the demand of the product both at home and abroad, the production as well as sales areas or regions of the product shall be emphasized.
(5) Investment estimation: it refers to the total amount of fixed assets and circulation fund required.
(6) The prospect of investment & the source of capital: it shall include both the ratio of investment and ratio of capital formed by both parties.
(7) Production techniques & main equipment: emphasis is laid on the superiority, suitability and reliability of the technology and equipment as well as important technological and economic indexes.
(8) The quantity and source of major raw materials, water, electric power, gas and transport shall be included.
(9) The number, formation and source of labor shall be included.
(10) Economic analysis with emphasis on arrangement of foreign exchange balance shall be included.
(11) Main documents:a. The contract of cooperation signed by both parties; b. The credibility investigation of the foreign investors
What shall be included in the feasibility study report of a Sino-foreign joint venture?
(1) A brief introductiona. The name of the joint venture, its legal address, purpose, business scope and scale;b. The names of each party, their registered countries, their legal addresses, their legal-persons?ˉ names, titles and nationalities (the Chinese party shall make known its competent department or bureau);c. The total investment of the joint venture, its registered capital, and the number & amount of shares (investment of each party, investment proportion of each party, the means of investment and the deadline for the payment of capital);d. The term for cooperation, the profit allocation and the ratio of sharing loss and damage;e. The approval certificate of the project proposal;
(2) Arrangement of production and its basis; The demand of the product both at home and abroad, methods of market survey, the capacity of the production equipment used or being used at home and abroad shall be explicitly stated.
(3) Arrangement of the supply of materials and fuel (including energy and transportation) and its basis.
(4) Selection of the project site and its basis.
(5) Selection of technological equipment and technique process and their bases.
(6) Arrangement of organizing production and its basins (including the total number, formation and source of employees, as well as management).
(7) Treatment of environmental pollution, production safety and hygienic measures and their bases.
(8) Construction methods, progress of the construction and the grounds for doing so.
(9) Sources of fund and its basins (including the shares converted from the original factory buildings and equipment).
(10) Arrangement of foreign exchange receipts and payments and its basins.
(11) Comprehensive analysis (including the analyses of economic results, technology, finance and law); Profits of the project and a risky prospect (Or in a sensitive analytic method).
(12) Main documents:a. A copy (duplicate) of the business license of each party issued by the competent department of its country or regions;b. Proof of the legal-person of each party;c. A balance sheet and a loss-and-profit sheet of each party;d. The survey of both domestic and international markets, the prediction report and the export ratio of product;e. Comments of the competent department on the site of the project;f. Comments of the competent department on environmental protection, fire protection, production safety and hygienic measures;g. Comments of the competent department on the arrangement of foreign exchange;h. Pre-examination and estimation report of the competent department about the project.
Can foreign employees of a foreign invested enterprise remit their pay abroad?
Yes. The foreign employees of a foreign-invested enterprise can remit abroad their salaries and other proper incomes after fully pa6ing the income tax.
　Can a foreign invested enterprise open a bank account at a foreign bank in China?
With the business license issued by the State ICAB, any foreign-invested enterprise can open bank accounts of both foreign exchange and RMB at any bank or at any other financial institution, which is permitted to handle foreign exchange business by the State Foreign Exchange Administration Department.
Can a foreign invested enterprise engage employees itself? What shall be done if disputes arise?
Under the guidance of Labor and Personnel departments, a Foreign-Invested Enterprise can take on employees by itself. The original enterprises of the employees enrolled shall support it and allow them to transfer. If any dispute arises, it can be harmonized and arbitrated by Shanghai Labor Bureau and Shanghai Personnel Bureau

 

 

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