Law of the Peoples Republic of China on Chinese-foreign Equity Joint Ventures

文章摘要 本文系统介绍了中国中外合资经营企业法的核心法律框架,涵盖合资企业的设立审批、组织形式、出资规则与公司治理等关键内容。法律允许外国公司、企业或个人与中国企业依平等互利原则共同设立合资企业,并保障外国合营者的投资安全。合资企业采用有限责任公司形式,外方出资比例一般不低于注册资本的25%,各方按出资比例分享利润、分担风险。在出资方式上,允许现金、实物、工业产权及场地使用权等,并强调外国合营者提供的技术设备必须先进适用。董事会作为最高权力机构,负责重大事项决策,董事长与副董事长由各方协商安排。税后利润依法分配,外方再投资可申请退税。该法为中外合资经营实践提供了基础性法律保障,对实务操作具有重要指导意义。

(Adopted by the Second Session of the Fifth National People’s Congress on July 1, 1979
 Revised in the Third Session of the Seventh National People’s Congress on April 4, 1990
 Revised for the second time in accordance with “Resolution on Revision of the Law of the People’s Republic of China on Chinese-Foreign Equity Joint Venture” of the Fourth Session of the Ninth National People’s Congress on March 15, 2001)


 Article 1 With a view to expanding international economic co-operation and technical exchange, the People’s Republic of China permits foreign companies, enterprises, other economic organizations or individuals (hereafter referred to as “foreign joint venturers”)to joint with Chinese companies, enterprise or other economic organizations (hereafter referred to as “Chinese joint ventures”) in establishing joint ventures in the People’s Republic of China in accordance with the principle of equality and mutual benefit and subject to approval by the Chinese Government.


 Article 2 The Chinese Government protects, in accordance with the law, the investment of foreign joint ventures, the profits due to them and their other lawful rights and interest in a joint venture, pursuant to the agreement, contract and articles of association approved by the Chinese Government.


Joint ventures shall follow the provisions of the laws and regulations of the People’s Republic of China in all their activities.


 The state does not practise nationalization and expropriation of a joint venture; under special circumstances, the state, in accordance with the needs of social public interest, expropriates a joint venture pursuant to legal procedures and offers corresponding compensations.


 Article 3 The joint venture agreement, contract and articles of association signed by the parties to the venture shall be submitted to the competent authorities of foreign economic relations and trade (hereafter referred to as approval authorities), and the approval authorities shall, within three months, decide whether to approve or disapprove them. After approval, the joint venture shall register with the state competent authorities of administration for industry and commerce to obtain a licence to do business and start operations.


 Article 4 A joint venture shall take the form of a limited liability company.


The proportion of the investment contributed by the foreign joint venturer(s) shall generally not be less than 25% of the reistered capital of a joint venture.


The parties to the venture shall share the profits, risks and losses in proportion to their respective contributions to the registered capital.


No assignment of the registered capital of a joint venturer shall be made without the consent of the other parties to the venture.


 Article 5 Each party to a joint venture may make its investment in cash, in kind or in industrial property rights, etc.


The technology and the equipment that serve as a foreign joint venturer’s investment must be advanced technology and equipment that actually suit our country’s needs. If the foreign joint venturer causes losses by deception through the intentional use of backward technology and equipment, it shall pay compensation for the losses.


The investment of a Chinese joint venturer may include the right to the use of a site provided for the joint venture during the period of its operation. If the right to the use of the site does not constitute a part of a Chinese joint venturer’s investment, the joint venture shall pay the Chinese Government a fee for its use.


The various investments referred to above shall be specified in the joint venture contract and articles of association, and the value of each (excluding that of the site) shall be jointly assessed by the parties to the venture.


 Article 6 A joint venture shall have a board of directors, which shall have its size and composition stipulated in the contract and the articles of association after consultation between the parties to the venture, and the directors shall be appointed and replaced by the parties to the venture. The Chairman and the vice-chairman are determined by the parties to the venture or elected by the board of directors. Either party of the Chinese-foreign joint venturers may be the chairman and the other shall assume the office of vice-chairman. In handling major problems, the board of directors shall reach a decision through consultation by the parties to the venture, in accordance with the principle of equality and mutual benefit.


The board of directors is empowered, pursuant to the provisions of the articles of association of the joint venture, to discuss and decide all major problems of the venture: expansion programmes, proposals for production and operating activities, the budget for revenues and expenditures, distribution of profits, plans concerning manpower and pay scales, the termination of business and the appointment or employment of the president, the vice-president(s), the chief engineer, the treasurer and the auditors, as well as their powers and terms of employment, etc.


The offices of president and vice-president(s) (or factory manager and deputy manager(s) shall be assumed by the respective parties to the venture.


Contracts shall be entered into in accordance with the law to prescribe the recruitment, dismissal, remuneration, welfare, labor protection, labor insurance, etc..


 Article 7 The staff employees of the joint venture may establish trade unions in accordance with the law, carry out the activities of the trade union and defend the lawful rights and interests of the employees.


Joint ventures shall provide necessary conditions for the activities of the trade unions thereof.


 Article 8 After payment, pursuant to the provisions of the tax laws of the People’s Republic of China, of the joint venture income tax on the gross profit earned by the joint venture and after deduction from the gross profit of a reserve fund, a bonus and welfare fund for staff and workers, and a venture expansion fund, as provided in the articles of association of the joint venture, the net profit shall be distributed to the parties to the joint venture in proportion to their respective contributions to the registered capital.


 A joint venture may enjoy the preferential treatment of reduction of or exemption from tax pursuant to relevant state taxation laws or administrative decrees.


A foreign joint venturer that reinvests in China its share of the net profit may apply for refund of a part of the income taxes already paid.


 Article 9 A joint venture shall, with its business licence, open a foreign exchange account at the banks or other financial organizations approved by the state foreign exchange control administrative organs to handle foreign exchange business.


The pertinent foreign exchange transactions of a joint venture shall be conducted in accordance with the regulations on foreign exchange control of the People’s Republic of China.


In its operating activities a joint venture may directly raise funds from foreign banks.


All insurances of joint ventures shall be procured at the insurance companies within the territory of the People’s Republic of China.


 Article 10 The Joint venture may purchase the materials such as raw materials, fuels, etc. as needed within the approved scope of business either on the domestic or international market according to the principle of fairness and reasonableness.


 A joint venture is encouraged to market its products outside China. Export products may be distributed to foreign markets through the joint venture directly or through associated agencies, and they may also be distributed through China’s foreign trade agencies. Products of the joint venture may also be distributed in the Chinese market.


Whenever necessary, a joint venture may establish branches outside China.


 Article 11 The net profit that a foreign joint venturer receives after fulfilling its obligations under the laws and the agreement and the contract, the funds it receives at the time of the joint venture’s scheduled expiration or early termination, and its other funds may be remitted abroad in accordance with the foreign exchange regulations and in the currency specified in the joint venture contract.


A foreign joint venturer shall be encouraged to deposit in the Bank of China foreign exchange that it is entitled to remit abroad.


 Article 12 The wages, salaries and other legitimate income earned by the foreign staff and workers of a joint venture, after payment of the individual income tax under the tax laws of the People’s Republic of China, may be remitted abroad in accordance with the foreign exchange regulations.


 Article 13 The contract period of a joint venture may be decided differently according to its particular line of business and circumstance. The joint ventures of some trades should decided the contract period; and other may or may not decide the contract period. A joint venture that has set a contract period should, if the parties to the joint venture agree to extend the contract period, apply to the approval authorities six months ahead of the expiration of the contract period. The latter should make the decision of approval or disapproval within one month as of the date of application.


 Article 14 In case of heavy losses, failure of a party to fulfil the obligations prescribed by the contract and the articles of association, force majeure, etc, the contract may be terminated through consultation and agreement by the parties to the venture, subject to approval by the approval authorities and to registration with the state competent authorities of administration for industry and commerce. In cases of losses caused by a breach of contract, the financial responsibility shall be borne by the party that has violated the contract.


 Article 15 Disputes arising between the parties to a joint venture that the board of directors cannot settle through consultation may be settled through mediation or arbitration by a Chinese arbitration agency or through arbitration by another arbitration agency agreed upon by the parties to the venture.


Where no arbitration clauses have been included in the joint venture contract or no written arbitration agreement have been reached after a dispute arises, any party may bring a suit with the people’s court.


 Article 16 This Law shall come into force on the date of its promulgation.

杨春宝一级律师简介

杨春宝一级律师,大成上海高级合伙人、资本市场部主任、国资基金研究中心主任,大成中国区私募基金专业带头人、科技与文化法律研究中心联合牵头人。执业30余年,长期从事私募基金、投融资、并购重组法律服务,尤其对对赌研究颇深且具有非常丰富的实战经验,并专注于金融机构股权投资业务。2004年起多次入选The Legal 500"私募基金"和"公司与商业"等境内外各类律师榜单,代理的中国法院首例适用外国法律审理外国公司的董事损害小股东权益纠纷案入选上海高院发布的《上海法院域外法查明典型案例》和威科先行"要案头条"。入选上海涉外法律人才库、上海市司法局鼎新法治人才库、上海国有企业改制法律顾问团,具有上市公司独立董事任职资格,系多家知名高校的兼职教授或兼职研究生导师及上海市商务委跨国经营人才培训班讲师。出版《私募股权投资基金风险防控操作实务》等16本投融资法律专著。了解更多

常见法律问题

中外合资经营企业的法律形式与出资比例要求是什么?

第一,法律概念与规则方面:中外合资经营企业依法采取有限责任公司的组织形式,合营各方以其认缴的出资额为限对企业承担责任。法律明确要求外国合营者的投资比例一般不得低于合资企业注册资本的25%,这既是外资参与的基本门槛,也是保障合资企业外资属性的重要规则。各方按照出资比例分享企业的净利润,同时按相同比例分担风险和亏损;注册资本转让必须经过合营他方同意,以防止股权结构变动影响合作基础。n第二,案件事实与实务场景引用:根据本文规定,合营各方可以用现金、实物、工业产权等方式出资,中国合营者的投资还可以包括场地使用权。如果场地使用权未作为中方出资部分,则合资企业需要向中国政府缴纳场地使用费。作为外国合营者出资的技术和设备,必须是确实适合我国需要的先进技术和设备;如果故意使用落后技术、设备并造成损失,应承担相应赔偿责任。实务中常见的争议集中在非货币出资的作价是否公允、技术是否属于先进水平,以及出资期限是否按期履行等环节。n第三,实务指引与风险提示:设立合资企业时,应在合同和章程中明确约定出资方式、作价方法、缴付期限和违约处理机制,避免因出资不实或拖延出资引发纠纷。外方出资比例低于25%时,企业可能无法完整享受合资企业的法律待遇,因此双方应有清醒认识。注册资本转让应提前设计其他股东的优先购买权和退出机制,确保股权调整不影响企业稳定运营。同时,对技术出资应做好尽职调查,必要时引入第三方评估机构,防范虚假出资或技术欺诈带来的损失。

合资企业董事会如何组成并作出有效决策?

第一,法律概念与规则方面:董事会是合资企业的最高权力机构,其人数和组成由合营各方在合同和章程中协商确定。董事由各方委派和撤换,董事长和副董事长可以由合营各方协商确定,也可以通过董事会选举产生;如果一方出任董事长,则另一方应当出任副董事长。在重大问题的处理上,董事会必须遵循平等互利的原则,由合营各方协商一致作出决定,这体现了合资企业共同经营管理的基本特征。n第二,案件事实与实务场景引用:根据本文规定,董事会依据合资企业章程,有权讨论并决定企业的一切重大问题,包括发展规划、生产经营活动方案、收支预算、利润分配、劳动工资计划、停业以及总经理、副总经理、总工程师、财务负责人和审计师的任命或聘请及其职权和待遇等。总经理和副总经理可以由合营各方分别担任,劳动合同应当依法订立,以明确职工的招聘、解雇、报酬、福利、劳动保护、劳动保险等事项。合资企业的职工还可以依法建立工会,开展工会活动并维护员工合法权益,企业应为工会活动提供必要条件。n第三,实务指引与风险提示:合营各方在制定章程时,应明确界定哪些事项需要董事会一致通过,哪些事项可以按多数表决,避免在重大经营决策中因协商机制不清而产生僵局。董事长人选的确定应综合考虑各方出资比例和管理能力,副董事长安排要体现利益平衡。高级管理人员的任命权限和职责范围应在章程中细化,防止越权行为。此外,企业应重视工会的积极作用,依法落实劳动保护和社会保险义务,减少劳动纠纷对经营的影响。

外国合营者的投资保护与利润汇出有哪些法律保障?

第一,法律概念与规则方面:中国政府依法保护外国合营者的投资、应分得的利润以及其他合法权益,保护范围以经批准的协议、合同和章程为依据。法律明确国家不对合资企业实行国有化和征收;仅在特殊情况下,为了社会公共利益的需要,可以依照法律程序对合资企业实行征收,但必须给予相应补偿。这一规则为外国投资者提供了稳定预期,是合资企业投资保护的核心原则。n第二,案件事实与实务场景引用:在利润分配层面,合资企业获得毛利润后,首先依照国家税法缴纳企业所得税,再按照章程规定从税后利润中提取储备基金、职工奖励及福利基金和企业发展基金,剩余净利润按照各方出资比例进行分配。外国合营者如果将其分得的净利润用于在中国境内再投资,可以依法申请退还部分已缴纳的所得税。在资金运作方面,合资企业凭营业执照在国家外汇管理机关批准经营外汇业务的银行或其他金融机构开立外汇账户,外汇交易须遵守国家外汇管理规定;企业可以直接向外国银行借款,但各项保险应当在中国境内的保险公司投保。n第三,实务指引与风险提示:外国合营者应当完整保存利润分配决议、完税凭证和汇款记录,确保汇出利润时手续合规。申请再投资退税时,需在法定期限内提交相应申请文件,并满足再投资的实际条件,避免因程序瑕疵丧失优惠。在面临征收风险时,外国合营者有权依据法律要求相应补偿,应在合资合同中预先设定争议解决方式和补偿标准相关条款。同时,需要密切关注国家外汇管理政策和税收政策的变化,及时调整资金安排,防范汇率风险和合规风险。

以上内容仅供参考,不构成法律意见。如需专业法律服务,请联系杨春宝一级律师:chambers.yang@dentons.cn

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