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1.Policy and Regulation of Administration for Industry and Commerce 
1.1 Registration: 
    Within 30 days after the examination and approval organs issue approval 
document and certificate,investors should register at administrative offices 
for industry and commerce,which will issue business license after examination 
and ratification. 

1.2 Regulation on Investment Input:
    According to the regulation on Investment Input of Different Parties of 
Joint Ventures,all parties should turn in the stipulated capital within six 
months from the issue of business license,if the contract provides that investment be turned in one move;if the contract allows installments,the first installment should not be lower than 15% of the agreed amount of investment of each party and must be turned in within three months from the issue of business license.If any party does not observe the regulations,the joint venture  will  be regarded  as  automatically  dispersed  and  the approval certificate will expire automatically. The joint venture should cancel the registration at the 
administrative office for industry and commerce and return the business license. The Administration for Industry and Commerce will make the announcement of revoking business licenses of those who do not cancel registration or return the business license.The parties who do not make investment within the contracted period of time will be punished by the registration administrative offices. 

1.3 Annual Inspection: 
    The regestration administrative offices conduct and annual inspection on 
foreign-funded enterprises. The inspection examines the investment paid by 
different parties,whether the joint venture is doing normal business within 
the registered scope of business,whether there is any investment with drawal, 
transfer of property,or evasion of debts,whether it has opened business, 
change or concel registration as stipulated by regulations.Foreign-funded 
enterprises should submit annual inspection reports and statements of assets 
and liabilities in time. 

1.4 Supervision and Administration:
    The registration administrative offices take the responsibilities of 
supervising and administrating the implementation of the contract and 
articles of foreign-funded enterprises. To those who do not or refuse to set 
up account books inside China,the registration administrative offices have 
the right to suspend their business or revoke their business licenses. The 
offices also make sure that foreign-funded enterprises open business,change 
or cancel registration as stipulated by regulations,do business within the 
contracts and articles,to through annual inspection,and observe relevant 
laws and policies of the State. All parties in a foreign-funded enterprise 
should state clearly in the contract and articles of association the time 
limit of the investment and turn in the registered capital before that time 
limit. Unless otherwise specified by the State,the following regulations on 
the time requirement of investment are applied to the investors of a foreign- 
funded enterprise.(Please refer to the table ) 

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2. Registration (at administrative office)for Taxes 
2.1 Start-Business Registration 
  1.)Within 30 days after receiving the business license,the foreign-funded 
enterprises should register at administrative office for taxes. These documents 
should be submitted: 
(1)Duplicate of Business License 
(2)Contracts charters and approval documents(solely overseas investment-funded  enterprises do not need to submit contracts) 
(3)Approval certificate for establishment of the foreign-funded enterprise 
(4)Feasibility study report and approval documents 
(5)List of board of directors of enterprise 
(6)Centificate of enterprise code 
(7)Housing property certificate or house leasing agreement 
(8)Certifcate of bank account number 
(9)Capital examination report provided by bank(the report can be submitted 
   after registration if it not been done) 
(10)If possible,with the official seal for filing of forms. 
  2.)These documents should be submitted by the Beijing office of Foreign- 
funded enterprises established in other cities or provinces 
(1)Duplicate of Business License or Registration 
(2)Approval documents provided by the Foreign Economic and Trade Commission 
   of the region where the headquarter of the enterprise is located. 
(3)Duplicated of business license,contracts and charters of the headquarter 
   of the enterprise. 
(4)Certificate of enterprise code 
(5)Housing property certificates or house leasing agreements 
(6)Certificate of bank account number 
  3.)Resident representative office in Beijing of overseas enterprises 
should submit the following documents 
(1)Duplicate of Business License 
(2)Duplicate of approval documents proveded by the Chinese(participant) host  organization 
(3)Passport(return or centificate),certificate of representative,of the chief 
   representative of overseas enterprise 
  4.)The following should be submitted by the overseas contractor 
(1)Duplicate of Business License 
(2)Documents of contracts and agreements 
(3)Certificate of project contracts issued by the Beijing City Construction 
   Committee 

2.2 Registration for Alteration
(1)To change any registered items(e.g.changing location,reorganization, 
   merger,separation and alteration of capital,changing of scope of business 
   and adding new business items),the enterprise enterprise should report to 
   the tax administrative office for relevant procedures within 30 days after 
   going through the alteration registration at the administrative office for 
   industry and commerce. 
(2)When enterprise terminates the business,it shoulde go through taxes payment 
   procedures at the tax administrative office,without the original and 
   duplicate of tax registrationtable, the certificate for purchasing receipt 
   book,seal of code and the receipts of goods,and it should through business 
   license cancel procedures at the administrative office for industry and 
   commerce with the certificate of payed taxes issued by the administrative 
   office for taxes. 
(3)Within 30 days,foreign-funded enterprise should register at administrative 
   office for taxes when branches of the enterprise are to be set up outside 
   the territories of China.If branches of the enterprise outside the 
   territories of China are canceled,registration for alteration should be 
   done within 30 days from the date of the branch cancel. 

2.3 Administrative Offices in Charge of Tax Register
(1)The following enterprises should register for taxation with the foreign 
   section of Beijing Municipal Taxation Bureau: 
   Sino-overseas joint-venture enterprises and Sino-overseas cooperative 
   enterprises subordinate to Beijing Municipality;sino-overseas joint- 
   venture enteprises and Sino-overease cooperative enterprises subordinate 
   to ministries or commissions of the central government;sole overseas-funded 
   enterprises in Beijing;resident representative office in Beijing of 
   foreign enterprises;resident representative office in Beijing of foreign 
   contractor whose projects are in other places of China,and foreign 
   contractors of the above-mentioned enterprises. 
(2)The follwing enterprises should register for taxation with the foreign 
   section of District of County Taxation Bureau: 
   Sino-overseas joint-venture enterprises and Sino-overseas cooperative 
   enterprises set up by Districts or Counties,sole-overseas funded 
   enterprises registered itself in Districts or Counties,Beijing Branches 
   of foreign enterprises registered itself in towns or cities other than 
   Beijing,and foreign contractors whose projects are run by units registered 
   at Districts or Counties. 

3. Finance Administration Registration
   The enterprises with foreign investment should,within 30 days after getting 
business license,register at the Beijing Municipal Finance Administration 
Bureau. 
   When applying the following documents should be submitted: 
   1 Business license 
   2 Approval certificate 
   3 Feasibility study report 
   4 Contract and articles of association 
   5 Approval documents of the composition of the board of directors and of 
   the feasibility study report issued by the foreign trade and economic 
   cooperation authority. 

4. Statistics Registration
   After receiving the approval certificate and the registration at the 
administration for industry and commerce,the enterprises with foreign 
investment should to through statistic registration procedures at the distrct 
statistic department. The following documents should be brought when 
registering: 
 1 Business licence(duplicate) 
 2 Official seal 
 3 Enterprise code certificate issued by the Technology Supervision Bureau(duplicate) 
 4 Approval certificate 
 5 Name of the local sub-district office and the neighborhood committee 

5. Policy and regulation of Foreign Exchange Control on foreign-funded Enterprises
5.1 Issuance of Foreign Exchange Control Certificate of Foreign-funded Enterprises
  Within 30 days from the issuance of business license, the foreign-funded 
enterprise should apply for the foreign Exchange Control Certificate from 
the local administration on foreign exchange control,meanwhile,submit the 
documents issued by the administration of industry and commerce.The enterprise can hold the certificate to open its foreign currency account in the designated banks. With the approval of administration of foreign exchange control,the foreign-funded enterprises can also open foreign currency accounts at financial organs within or out of the chines territory. 

5.2 Opening Account in China 
    Opening a foreign currency account:Foreign-funded enterprises may choose any bank that has the right to do foreign currency operations to open a 
foreign currency account. In applying for the opening of accounts,the following 
documeents are to be delivered: 
   1. Business license ratified and issued by the administration of industry 
and commerce 
   2. Approval certificate for establishment of the enterprise 
   3. Foreign Exchange Control Certificate of Foreign-funded Enterprises issued by the Administration of Foreign Exchange Control. 
   Opening a RMB account:Foreign-funded enterprises may choose any bank that has the right to do RMB operations to open a RMB account.For the application, The following documents are to be delivered: 
   1. Business license ratified and issued by the administration of industry 
and commerce 
   2. Approval certificate for establishment of the enterprise 

5.3 Payment and Remittance of Foreign Exchange
    With relevant certificates and documents,current payment of foreign 
exchange within the business scope of the foreign-funded enterprise can be 
directly remitted through the bank of deposit. 
    Foreign-funded enterprises can to through the repayment of foreign 
capital and interest with the bank of deposit by the examined Paper of Foreign Loan issued by the Administration of Foreign Exchange Control.Profits that 
foreign investors obtained,and salary income of foreign employees and employees from Hong Kong,Macao and Taiwan can be remitted throuth the bank of deposit. 
    The remittance of foreign exchange under he items of the enterprisers 
capital,such as the capital transfer of foreign-funded enterprises,recovery 
of investment,and the remittance of outlay of the enterprises' branches outside 
China,must be appproved by the Administration of Foreign Exchange Control. 

5.4 Profits in RMB Obtained by Foreign Investors
    Approved by the Administrantion of Foreign Exchange control,the foreign 
investor of the foreign-funded enterprise can invest its profits in RMB in 
Chinese enterprises that can create foreign exchange or increase foreign 
exchange income.Beside the preferential treatment of partial refund of the 
paid income tax,the investor can also get the same treatment as the foreign 
exchange abroad,foreign-funded enterprises should to through foreign loan 
regestration with the Administration of Foreign Exchange Control.Overseas 
loans that need the Chinese party's guarantee should be considered in light 
of the State plan of employing foreign investments and be reported to relevant 
departments for approval. 

5.5 Foreign Currency Exchang
    Examined and approved by the Administration of Foreign Exchange Control, foreign-funded enterprises can sell their revenue in foreign currencies,foreign investment,etc. on the swap market.Also on the swap market,they can also buy foreign currencies needed for activities within their business scope,foreign loan repayment,and for remittance of the foreign investor's profits,etc. 

5.6 Annual check on Foreign Currency
    Foreign-funded enterprises should entrust accountant firms appointed by 
the Administration of Foreign Exchange Control to conduct annual check on 
their use of foreign exchange and present and annual report on the results of 
the inspection befor April 30 each year. The enterprises should go to the 
Administration of Foreign Exchange Control with the annual report and their 
Foreign Exchange Control Certificates of Forein-funded Enterprises to renew 
the ratification of the certificates before May 31 each year. 

5.7 Preferential Policies to Foreign Investment
    Foreign-funded enterprises may open foreign currency account in the local 
designated banks with the Foreign Exchange Control Certifticate of Foreign- 
funded Enterprises. 
    Foreign-funded enterprises may adjust their foreign currency surplus or 
shortage on the swap market. 
    Authorized by competent departments,foreign-funded enterprises may export products bought with RMB from domestic producers in order to achieve comprehensive compensation of foreign currency. 
    Foreign investors may reinvest their RMB profits in other enterprises 
within China which can generate new and additional foreign currency earnings, 
meanwhile,they can enjoy the same preferential treatment as that of investment in foreign currencies. 

6. Opening Account in China
6.1 Open a Foreign Currency Account
    Foreign-invested enterprises may choose any bank with the authorization 
of foreign currency operation to open foreign currency account. The following 
documents must provided: 
  1 Business license ratified and issued by the Administration for Industry 
and Commerce 
  2 Approval certificate for the establishment of the enterprise 
  3 Contract,articles of association and approval documents 
  4 If it is necessary for an enterprise to open accounts in more than two 
banks or in more than two regions,approval of application must first be 
abtained from the Administration of Foreign Exchange control 

6.2 Open a RMB Account
    Foreign-invested enterprises may choose any of the banks with the 
authorization of RMB operation to open a RMB account.The  following documents must be provided: 
  1 Business license ratified and issued by the Administration for Industry 
and commerce 
  2 Certificate of approval for the establishment of the enterprise 

7. Capital Examination by the registered Accountant 
7.1 Documents Submitted for Employing a Registered Accountant
  (1)Business License 
  (2)Certificate of Approval 
  (3)Contracts and Charter 

7.2 Capital Examination of the RMB Investment Input
    Foreign investors invest RMB into joint-venture enterprises as investment 
input,the following two demands must be met simultaniously before capital 
examination: 
 1. Certificates issued by the authorities of finance,taxation and administration 
of foreign exchanges to confirm that the RMB to be invested into joint-venture enterprise as investment input is the legal profits of the enterprises in China 
already invested by the investor. 
 2. All the investors clearly stipulate,by the contracts, charters or additional 
agreements officially approved by the authorities,that this investment should 
be done by RMB input. 

7.3 Capital Examination of the Materials Investment Input 
  when Forign investors invest materials into joint-venture enterprises as 
investmetn input or investors are entrusted by joint-venture enterprises to 
purchase materials and equipments outside China,the four requirements must 
be met simultaniously befor capital examination. 
  1.The equipments must be advanced,applicable and essential for the production of joint-venture enterprises and the contracts,charters or additional agreements 
officially approved by authorities stipulate clealy that investors invest 
these materials as investment input. 
  2.The price of the equipments or materials should not be higher than that 
of the same equipments or materials in international market at the time, 
certificates of the prices of the equipments and materials should be submitted 
by the enterprises when necessary. 
  3.Contracts of the purchase of equipments and materials signed by both buyer 
and the seller must be submitted,(Here the"seller"generally refered to the 
producer and the supplyer,not the foreign investor).And the figinal receipts, 
bills,bouchers and invoices provided by the seller,copies of business among 
banks must be submitted. 
  4.Certificates issued by the Import-Export Commodity Inspection Bureau 

8. Examination and Approval of Import Equipments 
8.1 Initial Examination
  Initial Examination is to examine the implementation of the contracts signed 
by all the investors,the investment input,and the price of equipments. 
  The following should be submitted: 
(1)Contracts,charters and approval documents 
(2)Business license,duplicate of certificate of approval 
(3)Report of capital examination 
(4)List of equipments to be imported. 

8.2 Procedures of Approval for Import Equipments
  The following documents should be submitted to the Beijing.Foreign Economic Relations and Trade Commission(typed,four,copies) 
1. The application of import equipments,materials.And it should  contain these
information:
(1)Name of the enterprise.Name of each investing partner. 
(2)Number of the certificate of approval;Number of the Business license;Date 
of the Business License approval and the issuing date. 
(3)The total amount of investment,Registered capital,The proportion of investment of each party,ways and forms of investmetn,conditions of cash investment input. 
(4)Scope of Business,and duration only of Business. 
(5)Purpose of application 
(6)If the enterprise does not import equipment but purchases vehicles made in 
China,it can change this item and the application to the Application for 
purchasing duty-free vehiclies made in China 
(7)Official seal of the enterprise and the date of the application. 

2. The Additional agreements signed by the representatives of the corporations of each party of the joint enterprises should contain these information:
(1)Name of each investing partner. 
(2)Contents of the agreement reached 
(3)The list of equipment should have name,quantities,units price and total price of the equipment. 
(4)This agreement is the appendix to the contracts of the joint venture enterprese and to into effect from the date of signature and approval by representatives of the corporations of each of the joint-venture enterprise.Those who apply for supplement and revision of the list of importing equipment can refer to the 
above requirements and give clear indication of the number of original 
approval documents,import quota approved and the contents of supplement and revision(still taking in as the total amount of investment). 
3.Duplicates of Business License,Certificate of approval,report of Capital 
examination,Contracts,Charter.If necessary,the original documents of 
inquiring price and the original bills should be submitted. 

8.3 Applying for Import License
  Joint-venture enterprises applying for the import license to the Beijing Foreign Economic relations and Trade Commission should have these documents: the Documents approved for importing commodities,the registration of the customs, the report of capital examination(explanation is needed when necessary).And it must fill in the explanation cards of commodities ordering copies. 
  The enterprise can order commodities from suppliers abroad only after receiving the import license from the administrative Bureau of import-export license of the Ministry of Foreign Trade and Economic Cooperation or the Trade Administration Department of the Beijing Foreign Relations and Trade Commission. 

8.4 Others
(1)According to the regulations of the State Council,enterprises with investment from Hong Kong,Macao,Taiwan and Export enterprises do not need to apply for the import license for the vehicle used for production machines,offices 
equipment (These kinds of enterprises can apply for exemption documents to the customs with the indentification certificate issued by the office of Taiwan Affairs,Beijing Municipal Government or Beijing Economic Relations and Trade Commission.) 
(2)Inquiring to the customs declarer for the catalogue of commodities requiring import license. 
(3)To inquire about import standard of vehicles for daily use to the District 
Foreign Economic Relations and Trade Commission. 

9. Customs Procedures
9.1 For Custom Registration and Declaration Registration
  The following documents are to be submitted: 
1 Approval certificate for the establishment of enterprise 
2 Business license of enterprise 
3 Contract and Charter 
4 List of the approved equipment to be imported 
5 Report of capital examination 
6 Approval from the Foreign Trade and Economic Cooperation Commission. 

9.2 For Exemption of Customs Duties on Import and Export Goods
  The following documents are to be submitted: 
1 Application form for tax exemption for import and export goods 
2 Invoices 
3 Copy of the import and export license 

9.3 For the Declaration and the Delivery of Goods
  The following documents are to be submitted: 
1 Customs declaration form for the import or export goods 
2 Invoices 
3 Packing list
4 Certificate of exemption of taxes for import or export goods 
5 Bill of lading 
6 Import or export license 

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