中国的投资规则

China’s foreign investment system has evolved considerably in recent years, with many laws and reforms stemming from the country’s accession to the World Trade Organisation (WTO) in 2001. The top three industries for foreign direct investment are: manufacturing, real estate and leasing, and commercial services. Every investment project requires specific government approval, with restrictions and regulations varying across industries and regions and subject to regular change.

在计划投资中国时,外国企业将遇到一些主要部长级部门。These are the National Development and Reform Commission (NDRC), the Ministry of Commerce of the People’s Republic of China (MOFCOM) and the State Administration of Industry and Commerce (SAIC), the State Administration of Foreign Exchange (SAFE) and the General Administration of Customs (Customs). In addition, special industry bodies include the China Banking Regulatory Commission, the China Securities Regulatory Commission, the China Tourism Administration and the Ministry of Communications, which are also responsible for granting pre-approval for industry-specific foreign investment proposals.

国家发改委和MOFCOM(或者,当适用时,其本地同行)主要负责授予外国投资项目的许可。用于处理申请的相关授权(NDRC或其当地办事处和委员会)由投资目录确定的拟议总投资及其分类厘定。一般来说,总投资1亿美元的项目可能需要国家一级批准(触发可能更复杂,需要更多时间的过程)。

占位符

投资目录 - 外商投资工业指导目录(2011年) - 是中国外商投资监管制度的基本法律文件之一。因此,通常是澳大利亚投资者在规划在中国建立业务时提到的第一部法规。目录课程行业根据三类:鼓励,限制和禁止。必要的批准和外国投资者可用的激励类型根据分类而有所不同,而在目录中未包含在目录中的任何部门的投资是自动允许的。此外,目录还确定了中国合作伙伴所必需的部门和活动,并在适用的情况下)中国合作伙伴必须持有的最低股权。

The NDRC released the latest revised draft of the catalogue on November 4, 2014. The draft catalogue was approved at the Third Session of the 12th National People’s Congress and is effective from April 10, 2015. The service and manufacturing sectors are now more accessible to foreign investors, with the new catalogue reducing more than half the number of ‘restricted’ industrial sectors from 79 to 38. Furthermore, the new catalogue significantly cut the number of industrial sectors restricted to joint ventures and partnerships (from 43 to 11) and halved the number of industrial sectors requiring a Chinese majority shareholder (44 to 22).

随着中国政府致力于改善和发展部门和行业,修订后的大量拟议更改载于试点上海自由贸易区(FTZ)实施的自由化政策。投资目录强调中国通过允许扩大的市场准入和提升外资所有权,扩展全国上海富尔兹的福利。这包括在全国范围内应用简化的外国投资企业(FIE)纳入程序和法规。它包括执政的合资企业(JVS)和外商独资企业(WFOES)的法律,目前在上海FTZ。

修订后的目录在以下行业中允许WFOES(而不是中文合作伙伴):

  • 石油勘探与发展技术
  • 汽车零部件和电子产品
  • 民用飞机和船舶的制造
  • 地铁,铁路和国际海运运输的建设与运营
  • 会计和审计。添加到“鼓励”名单(履行资费和进口增值税(增值税)的其他部门,以及所需政府批准的较低门槛)包括:
  • 老年护理机构的投资
  • 洁净煤技术的发展
  • 文化和创意产业(融合工业,建筑和时装设计)。

投资目录的拟议关键变更包括对综合制造的限制的显着缓解。The following sectors stand to be removed from the ‘restricted’ category, meaning foreign investment would be permitted and could be carried out without restrictions on shareholding or investment forms: beverage manufacturing, chemical raw material and products manufacturing, chemical fibre production, general machine building, special equipment manufacturing (excluding those under the ‘prohibited’ category such as arms and ammunition), transportation equipment, communication equipment, computers and other electronic equipment manufacturing.

管理财务行业的投资规则将被放宽,外商投资概率不再申请信任和金融公司,或货币和保险经纪人。他们还为允许外国实体的证券公司投资不太繁重或限制性的投资规则(以前33%)中国企业承载和赞助人民币,政府,政府和公司债券,以及参与证券交易的债券。

On top of this, restrictions on China’s burgeoning real estate sector are to be abolished, opening the prospect of greater foreign involvement in the construction of commercial ventures ranging from hotels and convention centres, to offices, theme parks and key infrastructure such as energy grids, as well as land development more generally. Restrictions on investment in real estate brokerages will also be removed, while foreign entities for the first time will be able to partner with Chinese companies 50:50 in owning and operating hospitals. The revamped rules will also permit foreign investment in e-commerce exceeding 50 per cent, and up to 55 per cent in such business operating within the Shanghai FTZ.

反对自由化的一般趋势,修订后的投资目录对车辆制造和教育的投资产生了新的和更严格的限制。因此,在生产车辆的JV中,本地伙伴必须保留控制股权。此外,这些企业只允许允许两辆乘用车:商用车(如卡车或建筑物中使用的汽车)或摩托车。同样,高等教育和日托行动将面临同一所有权限制,已被添加到“限制”类别中,意思是外国投资者只能通过一家当地公司多数人拥有的JV发挥作用。高中投资仍然受到限制,禁止在义务教育(例如,小学)投资。

重要的是要注意,规定也可以根据业务在上海FTZ或其他任何特殊经济区或自由贸易区内部运营而有所不同。实施彻底实施也可能影响申请申请外卖业务的投资规则。因此,强烈建议潜在投资者在考虑在中国投资时对其局势量身定制的专业建议。

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