Shareholder agreements and joint ventures in the PRC:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Hong Kong [u.a.]
Sweet & Maxwell, Asia
2005
|
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | LI, 512 S. |
| ISBN: | 9626612967 |
Internformat
MARC
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| 245 | 1 | 0 | |a Shareholder agreements and joint ventures in the PRC |c Owen D. Nee |
| 264 | 1 | |a Hong Kong [u.a.] |b Sweet & Maxwell, Asia |c 2005 | |
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Datensatz im Suchindex
| _version_ | 1804135638984818688 |
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| adam_text | CONTENTS PAGE ACKNOWLEDGEMENTS VII ABOUT THE AUTHOR IX TABLE OF
LEGISLATION, MEASURES, NOTICES, REGULATIONS AND RULES XXI PART 1 -
INTRODUCTION CHAPTER 1 - THE HISTORICAL TRANSFORMATION OF CHINA S
ECONOMY 1.1 FOREIGN PARTICIPATION IN THE MODERNIZATION OF CHINA 3 1.2
ORIGINAL INTENT OF THE OPEN DOOR POLICY 4 1.3 THE JOINT VENTURE IN A
PLANNED ECONOMY 5 1.4 THE CREATION OF A GOVERNMENT BUREAUCRACY 6 1.5
EARLY RESTRICTIONS ON FOREIGN PARTICIPATION 7 1.6 HOW SUCCESS CHANGED
THE ORIGINAL PLAN 9 CHAPTER 2 - EARLY JOINT VENTURE AGREEMENTS 2.1 THE
JOINT VENTURE LAW - DISCUSSION AND ADOPTION 11 2.2 PRINCIPAL DOCUMENTS
AND TERMS 13 2.3 THE FEASIBILITY STUDY 13 2.4 JOINT VENTURE IMPLEMENTING
REGULATIONS AND STANDARD FORMS 14 2.5 SUMMARY OF THE PROCEDURES FOR
ESTABLISHING AN EQUITY JOINT VENTURE 14 1. DOCUMENTATION 15 2.
PROCEDURES FOR ESTABLISHING A JOINT VENTURE - GOVERNMENT INVOLVEMENT 18
2.6 OTHER APPROACHES - THE PETROLEUM INDUSTRY 21 2.7 OTHER APPROACHES -
THE CONTRACTUAL JOINT VENTURE 22 2.8 COMPENSATION TRADE 23 2.9
WHOLLY-FOREIGN OWNED ENTERPRISE 24 2.10 LEGISLATIVE EXPLOSION 25 CHAPTER
3 - JOINT VENTURE CONTRACTS 3.1 FORMALITY AS TO STRUCTURE AND CONTENT 27
3.2 THE PARTIES 28 1. THE CHINESE PARTY 28 2. THE FOREIGN PARTY 30 3.
REPRESENTATIONS AND WARRANTIES AS TO PARTIES 31 4. THE JOINT VENTURE
COMPANY AS A PARTY 31 5. JOINT VENTURE COMPANY NAME 31 3.3 PURPOSE,
SCOPE AND SCALE OF BUSINESS 32 1. BUSINESS PURPOSE 32 2. SCOPE OF
BUSINESS 33 3. CATALOGUE AND OTHER LEGISLATION ON BUSINESS SCOPE 35 4.
SCALE OF BUSINESS 36 3.4 CAPITALIZATION AND DEBT STRUCTURES 37 1. TOTAL
INVESTMENT AND REGISTERED CAPITAL 37 2. TIMING OF CAPITAL CONTRIBUTIONS
38 3. FORM OF CAPITAL CONTRIBUTION 41 4. REDUCTION OF CAPITAL 44 5. DEBT
STRUCTURES 45 6. EQUITY TRANSFER PROVISIONS 48 7. INVESTMENT
VERIFICATION 51 3.5 PROCUREMENT 51 3.6 LABOR MATTERS 54 1. LABOR
REGULATIONS 54 2. TRADE UNIONS 55 3. JOINT VENTURE CONTRACT PROVISIONS
56 3.7 FINANCIAL AFFAIRS AND ACCOUNTING 57 1. ACCOUNTING PRINCIPLES AND
PERSONNEL 57 2. THE THREE FUNDS 59 3. PROFIT DISTRIBUTIONS 59 4.
CONTRACT PROVISIONS 60 3.8 FOREIGN EXCHANGE 60 1. DEVELOPMENT OF SYSTEM
60 2. CURRENT RULES 62 3. FOREIGN EXCHANGE ISSUES REGARDING REGISTERED
CAPITAL 64 3.9 GOVERNING LAW 65 3.10 DURATION 65 3.11 DISPUTE SETTLEMENT
66 CHAPTER 4 - ARTICLES OF ASSOCIATION 4.1 ROLE OF THE ARTICLES OF
ASSOCIATION 67 4.2 MANAGEMENT STRUCTURES IN JOINT VENTURES 69 4.3 TERM
OF OFFICE 70 4.4 GROUNDS FOR REMOVAL OF A DIRECTOR 70 4.5 LIABILITY OF
DIRECTORS 71 4.6 CHAIRMAN AND VICE CHAIRMAN 73 4.7 POWERS OF THE BOARD
OF DIRECTORS AND DECISION MAKING 76 4.8 NUMBER OF DIRECTORS; QUORUM 78
4.9 MANAGERS AND OTHER OFFICERS 79 4.10 EQUAL PAY FOR EQUAL WORK 80
CHAPTER 5 - COOPERATIVE JOINT VENTURE CONTRACTS 5.1 COOPERATIVE JOINT
VENTURES 83 5.2 LEGISLATIVE HISTORY 83 5.3 ORGANIZATIONAL FORM 84 5.4
PRINCIPAL DIFFERENCES WITH EQUITY JOINT VENTURES 86 5.5 ADVANTAGES 89
5.6 DISADVANTAGES 90 CHAPTER 6 - TECHNOLOGY TRANSFERS 6.1 INTRODUCTION
91 6.2 EQUITY JOINT VENTURE LAW PROVISIONS ON TECHNOLOGY TRANSFERS 91 1.
CAPITAL CONTRIBUTIONS OF TECHNOLOGY 91 2. TECHNOLOGY LICENSING TO JOINT
VENTURES 93 6.3 TECHNOLOGY IMPORT AND EXPORT REGULATIONS 94 1. FREE AND
RESTRICTED TECHNOLOGIES 94 2. TECHNOLOGY LICENSING PROCESS FOR FREE
TECHNOLOGY 97 6.4 RESTRICTIONS ON TECHNOLOGY IMPORT CONTRACTS 99 6.5
CHINA S SYSTEM OF INTELLECTUAL PROPERTY PROTECTION 101 1. WTO
COMMITMENTS TO REFORM 102 2. CUSTOMS RECORD PROGRAM 105 3. CRIMINAL
PENALTIES FOR INTELLECTUAL PROPERTY VIOLATIONS 107 6.6 PRACTICAL ADVICE
IN LICENSING A JOINT VENTURE 107 CHAPTER 7 - ACQUISITION OF LAND AND
BUILDING 7.1 INTRODUCTION ILL 1. NATIONAL AND LOCAL RULES ILL 2.
OWNERSHIP OF LAND 113 3. GOVERNMENT LAND AUTHORITIES 114 7.2 OBTAINING
THE RIGHT TO THE USE OF LAND 115 1. OBTAINING LAND USE RIGHTS 115 7.3
TYPICAL TERMS FOR COMMERCIAL LAND USE RIGHTS 118 1. LENGTH OF LAND USE
118 2. OTHER COMMON CONTRACT TERMS 119 3. METHOD OF OBTAINING COMMERCIAL
LAND USE RIGHTS 119 4. TITLE DOCUMENTS 120 7.4 OBTAINING ALLOCATED LAND
USE RIGHTS 121 1. ALLOCATED LAND USE RIGHTS 121 2. RESTRICTIONS
APPLICABLE TO ALLOCATED RIGHTS 122 3. DISPOSAL OF BUILDINGS 122 7.5
JOINT VENTURES OBTAINING LAND USE RIGHTS 123 1. COMMERCIAL VERSUS
ALLOCATED LAND - JOINT VENTURE OPTIONS 123 2. OBTAINING LAND USE RIGHTS
FROM THE CHINESE PARTNER 124 7.6 COSTS FOR THE ACQUISITION OF LAND USE
RIGHTS 126 1. GRANT FEE 126 2. DEVELOPMENT COSTS 126 7.7 OTHER FEES AND
TAXES 127 1. LAND USE FEE AND SITE USE FEE 127 2. TAXES 127 7.8 PRIVATE
PURCHASE OF LAND AND BUILDINGS 129 7.9 WORKER HOUSING 130 CHAPTER 8 -
TRADEMARK LICENSING 8.1 INTRODUCTION 131 8.2 LAWS AND AGENCIES GOVERNING
REGISTRATION AND PROTECTION OF TRADEMARKS 131 8.3 PROCEDURES FOR
REGISTRATION 132 8.4 THE PERIOD OF VALIDITY OF A REGISTERED TRADEMARK
134 8.5 NATURE OF THE PROTECTED RIGHT 135 8.6 REFORMS BROUGHT ABOUT BY
THE WTO 136 1. THE TYPE OF MARKS TO BE REGISTERED AND THE APPLICANTS 136
2. JUDICIAL REVIEW OF TRADEMARK APPLICATIONS 137 3. PROTECTION OF
WELL-KNOWN TRADEMARKS AND GEOGRAPHIC INDICATIONS 137 4. ENHANCED
TRADEMARK PROTECTION 138 8.7 REMAINING PROBLEMS WITH ENFORCEMENT 138
PART 2 - LEGAL FRAMEWORK CHAPTER 9 - JOINT VENTURE STRUCTURES 9.1
STANDARD STRUCTURES: MAJORITY, MINORITY AND 50/50 143 1. WHAT DETERMINES
EQUITY OWNERSHIP 143 2. COMPARISON OF SUBSIDIARIES AND JOINT VENTURES
145 9.2 FOREIGN INCORPORATED JOINT VENTURES 149 9.3 CHINA CHINA FOREIGN
JOINT VENTURES 151 9.4 SHAM JOINT VENTURES 153 9.5 PRE-PACKAGED JOINT
VENTURES 153 CHAPTER 10 - COMPANIES FORMED UNDER THE COMPANY LAW 10.1
THE LIMITED LIABILITY COMPANY 155 1. COMPARISON BETWEEN LIMITED
LIABILITY COMPANIES AND JOINT VENTURES 156 2. WHOLLY STATE-OWNED
COMPANIES 158 3. SCOPE OF BUSINESS 159 10.2 THE COMPANY LIMITED BY
SHARES 159 1. GENERAL CHARACTERISTICS OF THE STOCK COMPANY 161 2.
CORPORATE MANAGEMENT 164 3. STOCK COMPANY SHARES 164 4. LISTED COMPANIES
165 5. FOREIGN LISTINGS 165 6. CORPORATE DEBT 166 10.3 FOREIGN
INVESTMENT JOINT STOCK COMPANIES 166 1. NATURE OF COMPANIES 166 2.
PROMOTION METHOD 166 3. TRANSFORMATION METHOD 168 4. FUTURE PROSPECTS
FOR THE FIJSC 169 10.4 PUBLIC ISSUE OF SHARES BY A FOREIGN INVESTMENT
JOINT STOCK COMPANY 170 1. TYPES OF SHARES 170 2. REQUIREMENTS FOR AN A
SHARE ISSUE BY AN FIJSC 172 3. ADDITIONAL REQUIREMENTS FOR AN FIJSC TO
ISSUE B SHARES 173 4. AFFECT OF AN FIJSC SHARE ISSUE 174 5. LISTING
PROCEDURES 174 CHAPTER 11 - MANAGEMENT COMPENSATION AND STOCK OPTION
PLANS 11.1 MANAGEMENT COMPENSATION 177 1. DOMESTIC MANAGERS 177 2.
FOREIGN MANAGERS 178 11.2 STOCK OPTIONS 179 11.3 DOMESTIC STOCK OPTION
PLANS 181 CHAPTER 12 - MERGERS AND ACQUISITIONS 12.1 JOINT VENTURE AS AN
ACQUISITION 183 12.2 ACQUISITION OF DOMESTIC ENTITIES BY FOREIGN
INVESTORS 184 1. NEW PROCEDURES AND REQUIREMENTS UNDER THE REGULATIONS
184 2. ANTITRUST REPORT 188 12.3 THE ASSET PURCHASE AGREEMENT 188 1.
PRELIMINARY MATTERS PRIOR TO DOCUMENTATION 189 2. THE STRUCTURE OF AN
ASSET PURCHASE AGREEMENT 194 12.4 MERGERS 200 1. TYPES OF MERGERS 200 2.
MERGER AGREEMENT 201 12.5 THE TAXATION OF MERGERS AND ACQUISITIONS 201
1. CHINA S PRINCIPAL TAXES AND TAX ADMINISTRATION 201 2. PRINCIPAL TAXES
203 3. APPLICATION TO ACQUISITIONS 204 12.6 REORGANIZATION OF STATE
OWNED ENTERPRISES BY FOREIGN INVESTORS 207 1. REORGANIZING VERSUS JOINT
VENTURING 207 2. INVESTMENT PROCESS 208 3. LIKELIHOOD OF SOE
REORGANIZATIONS 208 12.7 EQUITY AND ASSET EXCHANGES 209 1. EQUITY AND
ASSET EXCHANGE FUNCTIONS 209 2. PURCHASING STATE ASSETS? 209 CHAPTER 13
- FINANCING JOINT VENTURES 13.1 PERMISSIBLE DEBT LEVELS 213 13.2
ATTITUDES TOWARD DEBT FINANCE DURING NEGOTIATIONS 214 1. TYPICAL FOREIGN
AND CHINESE ATTITUDES 214 2. CASES WHERE DEBT IS LIKELY TO BE SHARED 215
3. FINANCING ANNEX 217 4. CHINESE ATTITUDE TOWARDS DOMESTIC BORROWING
218 13.3 DOMESTIC FINANCING 218 1. THE LENDERS 218 2. THE SECURITY LAW
AND ITS APPLICATION 219 3. FORMS OF SECURITY 220 13.4 FOREIGN FINANCING
225 1. REGULATION OF FOREIGN DEBT 226 2. INTERNATIONAL COMMERCIAL LOANS
228 3. PROJECT FINANCE LOANS 228 4. DOMESTIC BORROWERS PROVIDING
SECURITY TO FOREIGN LENDERS 230 13.5 GENERAL OBSERVATIONS ON FINANCING
JOINT VENTURES 232 CHAPTER 14 - LIQUIDATION AND BANKRUPTCY 14.1
LIQUIDATION OF A JOINT VENTURE 233 1. ORDINARY LIQUIDATIONS 234 2.
SPECIAL LIQUIDATIONS 238 14.2 BANKRUPTCY 242 1. WHO CAN INITIATE THE
INSOLVENCY PROCEEDING? 243 2. THE DRAFT BANKRUPTCY LAW 246 14.3 DIRECTOR
AND OFFICER LIABILITY FOR BANKRUPTCY 248 1. THE COMPANY LAW STANDARD 249
2. COMPANY LAW LIABILITIES 250 3. RESPONSIBILITY OF THE CHAIRMAN OF THE
BOARD OF DIRECTORS AND DIRECTORS AND MANAGERS IN CASE OF INSOLVENCY 252
14.4 LIQUIDATION AND BANKRUPTCY PROCEEDINGS IN THE FUTURE 254 CHAPTER 15
- DISPUTE SETTLEMENT IN JOINT VENTURES 15.1 NATURE OF DISPUTES 255 15.2
DISPUTES WITH GOVERNMENT BODIES 256 1. WTO DISPUTE SETTLEMENT CHANNELS
256 2. DISPUTE SETTLEMENT UNDERSTANDING 258 15.3 PRC DISPUTE SETTLEMENT
MECHANISMS WITH ADMINISTRATIVE AUTHORITIES 263 1. ADMINISTRATIVE REVIEW
263 2. LEGAL ACTION 265 3. LICENSE LAW 266 4. RESOLVING DISPUTES WITH
PARTICULAR ADMINISTRATIVE DEPARTMENTS 268 15.4 CORRUPT PRACTICES 270 1.
FOREIGN CORRUPT PRACTICES ACT 270 2. OECD CONVENTION 276 3. CORRUPT
PAYMENTS UNDER CHINESE LAW 277 4. COMMERCIAL BRIBERY 280 5. CORRUPTION
ACCUSATION LETTERS 282 15.5 DISPUTES WITH THIRD PARTIES 283 1. ACCIDENTS
283 2. LABOR DISPUTES 283 3. PRODUCT LIABILITY CASES 285 4. INTELLECTUAL
PROPERTY DISPUTES 285 5. SUITS FOR PAYMENT 285 15.6 DISPUTES WITH
PARTNERS AND AFFILIATES 286 1. ARBITRATION 286 2. FOREIGN VERSUS
DOMESTIC ARBITRATION 286 3. ARBITRATION CLAUSES 287 CHAPTER 16 -
INTRODUCTION TO TAXATION OF JOINT VENTURES 16.1 FOREIGN ENTERPRISE
INCOME TAX LAW 293 1. GENERAL STRUCTURE 293 2. SCOPE OF LAW; DEFINITION
OF PERMANENT ESTABLISHMENT AND INCOME SOURCED IN THE PRC * 295 3. INCOME
FROM SOURCES INSIDE CHINA 298 16.2 TAX RATES 298 1. NET INCOME TAX 298
2. WITHHOLDING TAX 301 16.3 TAX HOLIDAYS 303 1. INTRODUCTION 303 2.
SPECIFIC TAX HOLIDAYS 303 16.4 REFUNDS FOR REINVESTMENT 305 16.5
CALCULATION OF TAXABLE INCOME 306 1. MANUFACTURING 307 2. COMPANIES
ENGAGED IN COMMERCE 307 3. SERVICES 307 4. INVENTORIES 307 5.
DEPRECIATION 308 6. AMORTIZATION 309 7. START-UP COSTS 309 8.
NON-DEDUCTIBLE ITEMS 310 9. DEEMED INCOME 311 10. CAPITAL GAINS 312 11.
LOSS CARRYFORWARD 312 12. RESERVE FUNDS 313 13. BAD DEBT RESERVE OF
CERTAIN FOREIGN INVESTMENT ENTERPRISES 313 14. MANAGEMENT FEES 313 16.6
TRANSFER PRICING 314 1. INTRODUCTION 314 2. TRANSFER PRICING
ADMINISTRATION 315 3. ASSOCIATED ENTERPRISES 315 4. SELECTING TARGETS
FOR AUDITS 316 5. PROCEDURES FOR AUDITS 317 6. METHODS FOR PRICE
ADJUSTMENT 317 7. PROCEDURES FOR PRICE ADJUSTMENTS 319 8. REVIEW AND
APPEALS PROCESS 319 9. DUTIES OF TAX AUTHORITIES 320 10. DISCLOSURE OF
RELATED PARTY TRANSACTIONS 321 16.7 DOUBLE TAXATION 321 CHAPTER 17 -
INDUSTRIES WHERE JOINT VENTURES ARE MANDATORY 17.1 WTO MARKET OPENING
MEASURES AND CHINA S CATALOGUE ON FOREIGN INVESTMENT 323 17.2 INDUSTRIES
WHERE JOINT VENTURES ARE MANDATORY 325 17.3 COMMENTS ON CERTAIN
INDUSTRIES WHERE JOINT VENTURES ARE MANDATORY 346 1. FIXED ASSET
INVESTMENT PROJECTS 346 2. PETROLEUM EXPLORATION AND DEVELOPMENT 347 3.
PAPER MAKING 348 4. ETHYLENE PRODUCTION 349 5. AUTOMOTIVE PRODUCTION 349
6. NUCLEAR POWER PLANTS AND THEIR EQUIPMENT .. 355 7. AIRPORTS AND AIR
TRANSPORTATION 356 8. INTERNATIONAL MARITIME TRANSPORTATION 357 9.
FOREIGN INVESTMENT COMMERCIAL ENTERPRISE 358 CHAPTER 18 - COMMON JOINT
VENTURE COMPLIMENTS AND COMPLAINTS 18.1 INTRODUCTION 361 18.2 INABILITY
TO MANAGE EFFECTIVELY 361 18.3 INABILITY TO CONTROL TECHNOLOGY FLOW 362
18.4 EXCESSIVE OR UNFAIR PARTNER REMUNERATION FOR SERVICE AGREEMENTS 363
18.5 LIMITED RIGHT TO INFORMATION 363 18.6 ILLIQUID NATURE OF INVESTMENT
364 18.7 ADMINISTRATIVE OBSTACLES TO PAYING THE FOREIGN INVESTOR FOR
SERVICES 364 18.8 LIMITED TERM OF INVESTMENT 364 18.9 PARTNER ACTS AS
GOVERNMENT INFORMANT 365 18.10 REFUSAL TO BE DILUTED PREVENTS GROWTH 365
18.11 JOINT VENTURE DISTRIBUTION ARRANGEMENTS 365 ANNEXES ANNEX 1 -
MODEL JOINT VENTURE CONTRACT 367 ANNEX 2-MODEL ARTICLES OF ASSOCIATION
413 ANNEX 3 - FORM OF FEASIBILITY STUDY 441 ANNEX 4 - TECHNOLOGY
TRANSFER CONTRACT 447 ANNEX 5 - TRADEMARK LICENSE AGREEMENT 467 INDEX
489
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| adam_txt |
CONTENTS PAGE ACKNOWLEDGEMENTS VII ABOUT THE AUTHOR IX TABLE OF
LEGISLATION, MEASURES, NOTICES, REGULATIONS AND RULES XXI PART 1 -
INTRODUCTION CHAPTER 1 - THE HISTORICAL TRANSFORMATION OF CHINA'S
ECONOMY 1.1 FOREIGN PARTICIPATION IN THE MODERNIZATION OF CHINA 3 1.2
ORIGINAL INTENT OF THE OPEN DOOR POLICY 4 1.3 THE JOINT VENTURE IN A
PLANNED ECONOMY 5 1.4 THE CREATION OF A GOVERNMENT BUREAUCRACY 6 1.5
EARLY RESTRICTIONS ON FOREIGN PARTICIPATION 7 1.6 HOW SUCCESS CHANGED
THE ORIGINAL PLAN 9 CHAPTER 2 - EARLY JOINT VENTURE AGREEMENTS 2.1 THE
JOINT VENTURE LAW - DISCUSSION AND ADOPTION 11 2.2 PRINCIPAL DOCUMENTS
AND TERMS 13 2.3 THE FEASIBILITY STUDY 13 2.4 JOINT VENTURE IMPLEMENTING
REGULATIONS AND STANDARD FORMS 14 2.5 SUMMARY OF THE PROCEDURES FOR
ESTABLISHING AN EQUITY JOINT VENTURE 14 1. DOCUMENTATION 15 2.
PROCEDURES FOR ESTABLISHING A JOINT VENTURE - GOVERNMENT INVOLVEMENT 18
2.6 OTHER APPROACHES - THE PETROLEUM INDUSTRY 21 2.7 OTHER APPROACHES -
THE CONTRACTUAL JOINT VENTURE 22 2.8 COMPENSATION TRADE 23 2.9
WHOLLY-FOREIGN OWNED ENTERPRISE 24 2.10 LEGISLATIVE EXPLOSION 25 CHAPTER
3 - JOINT VENTURE CONTRACTS 3.1 FORMALITY AS TO STRUCTURE AND CONTENT 27
3.2 THE PARTIES 28 1. THE CHINESE PARTY 28 2. THE FOREIGN PARTY 30 3.
REPRESENTATIONS AND WARRANTIES AS TO PARTIES 31 4. THE JOINT VENTURE
COMPANY AS A PARTY 31 5. JOINT VENTURE COMPANY NAME 31 3.3 PURPOSE,
SCOPE AND SCALE OF BUSINESS 32 1. BUSINESS PURPOSE 32 2. SCOPE OF
BUSINESS 33 3. CATALOGUE AND OTHER LEGISLATION ON BUSINESS SCOPE 35 4.
SCALE OF BUSINESS 36 3.4 CAPITALIZATION AND DEBT STRUCTURES 37 1. TOTAL
INVESTMENT AND REGISTERED CAPITAL 37 2. TIMING OF CAPITAL CONTRIBUTIONS
38 3. FORM OF CAPITAL CONTRIBUTION 41 4. REDUCTION OF CAPITAL 44 5. DEBT
STRUCTURES 45 6. EQUITY TRANSFER PROVISIONS 48 7. INVESTMENT
VERIFICATION 51 3.5 PROCUREMENT 51 3.6 LABOR MATTERS 54 1. LABOR
REGULATIONS 54 2. TRADE UNIONS 55 3. JOINT VENTURE CONTRACT PROVISIONS
56 3.7 FINANCIAL AFFAIRS AND ACCOUNTING 57 1. ACCOUNTING PRINCIPLES AND
PERSONNEL 57 2. THE THREE FUNDS 59 3. PROFIT DISTRIBUTIONS 59 4.
CONTRACT PROVISIONS 60 3.8 FOREIGN EXCHANGE 60 1. DEVELOPMENT OF SYSTEM
60 2. CURRENT RULES 62 3. FOREIGN EXCHANGE ISSUES REGARDING REGISTERED
CAPITAL 64 3.9 GOVERNING LAW 65 3.10 DURATION 65 3.11 DISPUTE SETTLEMENT
66 CHAPTER 4 - ARTICLES OF ASSOCIATION 4.1 ROLE OF THE ARTICLES OF
ASSOCIATION 67 4.2 MANAGEMENT STRUCTURES IN JOINT VENTURES 69 4.3 TERM
OF OFFICE 70 4.4 GROUNDS FOR REMOVAL OF A DIRECTOR 70 4.5 LIABILITY OF
DIRECTORS 71 4.6 CHAIRMAN AND VICE CHAIRMAN 73 4.7 POWERS OF THE BOARD
OF DIRECTORS AND DECISION MAKING 76 4.8 NUMBER OF DIRECTORS; QUORUM 78
4.9 MANAGERS AND OTHER OFFICERS 79 4.10 EQUAL PAY FOR EQUAL WORK 80
CHAPTER 5 - COOPERATIVE JOINT VENTURE CONTRACTS 5.1 COOPERATIVE JOINT
VENTURES 83 5.2 LEGISLATIVE HISTORY 83 5.3 ORGANIZATIONAL FORM 84 5.4
PRINCIPAL DIFFERENCES WITH EQUITY JOINT VENTURES 86 5.5 ADVANTAGES 89
5.6 DISADVANTAGES 90 CHAPTER 6 - TECHNOLOGY TRANSFERS 6.1 INTRODUCTION
91 6.2 EQUITY JOINT VENTURE LAW PROVISIONS ON TECHNOLOGY TRANSFERS 91 1.
CAPITAL CONTRIBUTIONS OF TECHNOLOGY 91 2. TECHNOLOGY LICENSING TO JOINT
VENTURES 93 6.3 TECHNOLOGY IMPORT AND EXPORT REGULATIONS 94 1. FREE AND
RESTRICTED TECHNOLOGIES 94 2. TECHNOLOGY LICENSING PROCESS FOR FREE
TECHNOLOGY 97 6.4 RESTRICTIONS ON TECHNOLOGY IMPORT CONTRACTS 99 6.5
CHINA'S SYSTEM OF INTELLECTUAL PROPERTY PROTECTION 101 1. WTO
COMMITMENTS TO REFORM 102 2. CUSTOMS RECORD PROGRAM 105 3. CRIMINAL
PENALTIES FOR INTELLECTUAL PROPERTY VIOLATIONS 107 6.6 PRACTICAL ADVICE
IN LICENSING A JOINT VENTURE 107 CHAPTER 7 - ACQUISITION OF LAND AND
BUILDING 7.1 INTRODUCTION ILL 1. NATIONAL AND LOCAL RULES ILL 2.
OWNERSHIP OF LAND 113 3. GOVERNMENT LAND AUTHORITIES 114 7.2 OBTAINING
THE RIGHT TO THE USE OF LAND 115 1. OBTAINING LAND USE RIGHTS 115 7.3
TYPICAL TERMS FOR COMMERCIAL LAND USE RIGHTS 118 1. LENGTH OF LAND USE
118 2. OTHER COMMON CONTRACT TERMS 119 3. METHOD OF OBTAINING COMMERCIAL
LAND USE RIGHTS 119 4. TITLE DOCUMENTS 120 7.4 OBTAINING ALLOCATED LAND
USE RIGHTS 121 1. ALLOCATED LAND USE RIGHTS 121 2. RESTRICTIONS
APPLICABLE TO ALLOCATED RIGHTS 122 3. DISPOSAL OF BUILDINGS 122 7.5
JOINT VENTURES OBTAINING LAND USE RIGHTS 123 1. COMMERCIAL VERSUS
ALLOCATED LAND - JOINT VENTURE OPTIONS 123 2. OBTAINING LAND USE RIGHTS
FROM THE CHINESE PARTNER 124 7.6 COSTS FOR THE ACQUISITION OF LAND USE
RIGHTS 126 1. GRANT FEE 126 2. DEVELOPMENT COSTS 126 7.7 OTHER FEES AND
TAXES 127 1. LAND USE FEE AND SITE USE FEE 127 2. TAXES 127 7.8 PRIVATE
PURCHASE OF LAND AND BUILDINGS 129 7.9 WORKER HOUSING 130 CHAPTER 8 -
TRADEMARK LICENSING 8.1 INTRODUCTION 131 8.2 LAWS AND AGENCIES GOVERNING
REGISTRATION AND PROTECTION OF TRADEMARKS 131 8.3 PROCEDURES FOR
REGISTRATION 132 8.4 THE PERIOD OF VALIDITY OF A REGISTERED TRADEMARK
134 8.5 NATURE OF THE PROTECTED RIGHT 135 8.6 REFORMS BROUGHT ABOUT BY
THE WTO 136 1. THE TYPE OF MARKS TO BE REGISTERED AND THE APPLICANTS 136
2. JUDICIAL REVIEW OF TRADEMARK APPLICATIONS 137 3. PROTECTION OF
WELL-KNOWN TRADEMARKS AND GEOGRAPHIC INDICATIONS 137 4. ENHANCED
TRADEMARK PROTECTION 138 8.7 REMAINING PROBLEMS WITH ENFORCEMENT 138
PART 2 - LEGAL FRAMEWORK CHAPTER 9 - JOINT VENTURE STRUCTURES 9.1
STANDARD STRUCTURES: MAJORITY, MINORITY AND 50/50 143 1. WHAT DETERMINES
EQUITY OWNERSHIP 143 2. COMPARISON OF SUBSIDIARIES AND JOINT VENTURES
145 9.2 FOREIGN INCORPORATED JOINT VENTURES 149 9.3 CHINA CHINA FOREIGN
JOINT VENTURES 151 9.4 SHAM JOINT VENTURES 153 9.5 PRE-PACKAGED JOINT
VENTURES 153 CHAPTER 10 - COMPANIES FORMED UNDER THE COMPANY LAW 10.1
THE LIMITED LIABILITY COMPANY 155 1. COMPARISON BETWEEN LIMITED
LIABILITY COMPANIES AND JOINT VENTURES 156 2. WHOLLY STATE-OWNED
COMPANIES 158 3. SCOPE OF BUSINESS 159 10.2 THE COMPANY LIMITED BY
SHARES 159 1. GENERAL CHARACTERISTICS OF THE STOCK COMPANY 161 2.
CORPORATE MANAGEMENT 164 3. STOCK COMPANY SHARES 164 4. LISTED COMPANIES
165 5. FOREIGN LISTINGS 165 6. CORPORATE DEBT 166 10.3 FOREIGN
INVESTMENT JOINT STOCK COMPANIES 166 1. NATURE OF COMPANIES 166 2.
PROMOTION METHOD 166 3. TRANSFORMATION METHOD 168 4. FUTURE PROSPECTS
FOR THE FIJSC 169 10.4 PUBLIC ISSUE OF SHARES BY A FOREIGN INVESTMENT
JOINT STOCK COMPANY 170 1. TYPES OF SHARES 170 2. REQUIREMENTS FOR AN A
SHARE ISSUE BY AN FIJSC 172 3. ADDITIONAL REQUIREMENTS FOR AN FIJSC TO
ISSUE B SHARES 173 4. AFFECT OF AN FIJSC SHARE ISSUE 174 5. LISTING
PROCEDURES 174 CHAPTER 11 - MANAGEMENT COMPENSATION AND STOCK OPTION
PLANS 11.1 MANAGEMENT COMPENSATION 177 1. DOMESTIC MANAGERS 177 2.
FOREIGN MANAGERS 178 11.2 STOCK OPTIONS 179 11.3 DOMESTIC STOCK OPTION
PLANS 181 CHAPTER 12 - MERGERS AND ACQUISITIONS 12.1 JOINT VENTURE AS AN
ACQUISITION 183 12.2 ACQUISITION OF DOMESTIC ENTITIES BY FOREIGN
INVESTORS 184 1. NEW PROCEDURES AND REQUIREMENTS UNDER THE REGULATIONS
184 2. ANTITRUST REPORT 188 12.3 THE ASSET PURCHASE AGREEMENT 188 1.
PRELIMINARY MATTERS PRIOR TO DOCUMENTATION 189 2. THE STRUCTURE OF AN
ASSET PURCHASE AGREEMENT 194 12.4 MERGERS 200 1. TYPES OF MERGERS 200 2.
MERGER AGREEMENT 201 12.5 THE TAXATION OF MERGERS AND ACQUISITIONS 201
1. CHINA'S PRINCIPAL TAXES AND TAX ADMINISTRATION 201 2. PRINCIPAL TAXES
203 3. APPLICATION TO ACQUISITIONS 204 12.6 REORGANIZATION OF STATE
OWNED ENTERPRISES BY FOREIGN INVESTORS 207 1. REORGANIZING VERSUS JOINT
VENTURING 207 2. INVESTMENT PROCESS 208 3. LIKELIHOOD OF SOE
REORGANIZATIONS 208 12.7 EQUITY AND ASSET EXCHANGES 209 1. EQUITY AND
ASSET EXCHANGE FUNCTIONS 209 2. PURCHASING STATE ASSETS? 209 CHAPTER 13
- FINANCING JOINT VENTURES 13.1 PERMISSIBLE DEBT LEVELS 213 13.2
ATTITUDES TOWARD DEBT FINANCE DURING NEGOTIATIONS 214 1. TYPICAL FOREIGN
AND CHINESE ATTITUDES 214 2. CASES WHERE DEBT IS LIKELY TO BE SHARED 215
3. FINANCING ANNEX 217 4. CHINESE ATTITUDE TOWARDS DOMESTIC BORROWING
218 13.3 DOMESTIC FINANCING 218 1. THE LENDERS 218 2. THE SECURITY LAW
AND ITS APPLICATION 219 3. FORMS OF SECURITY 220 13.4 FOREIGN FINANCING
225 1. REGULATION OF FOREIGN DEBT 226 2. INTERNATIONAL COMMERCIAL LOANS
228 3. PROJECT FINANCE LOANS 228 4. DOMESTIC BORROWERS PROVIDING
SECURITY TO FOREIGN LENDERS 230 13.5 GENERAL OBSERVATIONS ON FINANCING
JOINT VENTURES 232 CHAPTER 14 - LIQUIDATION AND BANKRUPTCY 14.1
LIQUIDATION OF A JOINT VENTURE 233 1. ORDINARY LIQUIDATIONS 234 2.
SPECIAL LIQUIDATIONS 238 14.2 BANKRUPTCY 242 1. WHO CAN INITIATE THE
INSOLVENCY PROCEEDING? 243 2. THE DRAFT BANKRUPTCY LAW 246 14.3 DIRECTOR
AND OFFICER LIABILITY FOR BANKRUPTCY 248 1. THE COMPANY LAW STANDARD 249
2. COMPANY LAW LIABILITIES 250 3. RESPONSIBILITY OF THE CHAIRMAN OF THE
BOARD OF DIRECTORS AND DIRECTORS AND MANAGERS IN CASE OF INSOLVENCY 252
14.4 LIQUIDATION AND BANKRUPTCY PROCEEDINGS IN THE FUTURE 254 CHAPTER 15
- DISPUTE SETTLEMENT IN JOINT VENTURES 15.1 NATURE OF DISPUTES 255 15.2
DISPUTES WITH GOVERNMENT BODIES 256 1. WTO DISPUTE SETTLEMENT CHANNELS
256 2. DISPUTE SETTLEMENT UNDERSTANDING 258 15.3 PRC DISPUTE SETTLEMENT
MECHANISMS WITH ADMINISTRATIVE AUTHORITIES 263 1. ADMINISTRATIVE REVIEW
263 2. LEGAL ACTION 265 3. LICENSE LAW 266 4. RESOLVING DISPUTES WITH
PARTICULAR ADMINISTRATIVE DEPARTMENTS 268 15.4 CORRUPT PRACTICES 270 1.
FOREIGN CORRUPT PRACTICES ACT 270 2. OECD CONVENTION 276 3. CORRUPT
PAYMENTS UNDER CHINESE LAW 277 4. COMMERCIAL BRIBERY 280 5. CORRUPTION
ACCUSATION LETTERS 282 15.5 DISPUTES WITH THIRD PARTIES 283 1. ACCIDENTS
283 2. LABOR DISPUTES 283 3. PRODUCT LIABILITY CASES 285 4. INTELLECTUAL
PROPERTY DISPUTES 285 5. SUITS FOR PAYMENT 285 15.6 DISPUTES WITH
PARTNERS AND AFFILIATES 286 1. ARBITRATION 286 2. FOREIGN VERSUS
DOMESTIC ARBITRATION 286 3. ARBITRATION CLAUSES 287 CHAPTER 16 -
INTRODUCTION TO TAXATION OF JOINT VENTURES 16.1 FOREIGN ENTERPRISE
INCOME TAX LAW 293 1. GENERAL STRUCTURE 293 2. SCOPE OF LAW; DEFINITION
OF PERMANENT ESTABLISHMENT AND INCOME SOURCED IN THE PRC * 295 3. INCOME
FROM SOURCES INSIDE CHINA 298 16.2 TAX RATES 298 1. NET INCOME TAX 298
2. WITHHOLDING TAX 301 16.3 TAX HOLIDAYS 303 1. INTRODUCTION 303 2.
SPECIFIC TAX HOLIDAYS 303 16.4 REFUNDS FOR REINVESTMENT 305 16.5
CALCULATION OF TAXABLE INCOME 306 1. MANUFACTURING 307 2. COMPANIES
ENGAGED IN COMMERCE 307 3. SERVICES 307 4. INVENTORIES 307 5.
DEPRECIATION 308 6. AMORTIZATION 309 7. START-UP COSTS 309 8.
NON-DEDUCTIBLE ITEMS 310 9. DEEMED INCOME 311 10. CAPITAL GAINS 312 11.
LOSS CARRYFORWARD 312 12. RESERVE FUNDS 313 13. BAD DEBT RESERVE OF
CERTAIN FOREIGN INVESTMENT ENTERPRISES 313 14. MANAGEMENT FEES 313 16.6
TRANSFER PRICING 314 1. INTRODUCTION 314 2. TRANSFER PRICING
ADMINISTRATION 315 3. ASSOCIATED ENTERPRISES 315 4. SELECTING TARGETS
FOR AUDITS 316 5. PROCEDURES FOR AUDITS 317 6. METHODS FOR PRICE
ADJUSTMENT 317 7. PROCEDURES FOR PRICE ADJUSTMENTS 319 8. REVIEW AND
APPEALS PROCESS 319 9. DUTIES OF TAX AUTHORITIES 320 10. DISCLOSURE OF
RELATED PARTY TRANSACTIONS 321 16.7 DOUBLE TAXATION 321 CHAPTER 17 -
INDUSTRIES WHERE JOINT VENTURES ARE MANDATORY 17.1 WTO MARKET OPENING
MEASURES AND CHINA'S CATALOGUE ON FOREIGN INVESTMENT 323 17.2 INDUSTRIES
WHERE JOINT VENTURES ARE MANDATORY 325 17.3 COMMENTS ON CERTAIN
INDUSTRIES WHERE JOINT VENTURES ARE MANDATORY 346 1. FIXED ASSET
INVESTMENT PROJECTS 346 2. PETROLEUM EXPLORATION AND DEVELOPMENT 347 3.
PAPER MAKING 348 4. ETHYLENE PRODUCTION 349 5. AUTOMOTIVE PRODUCTION 349
6. NUCLEAR POWER PLANTS AND THEIR EQUIPMENT . 355 7. AIRPORTS AND AIR
TRANSPORTATION 356 8. INTERNATIONAL MARITIME TRANSPORTATION 357 9.
FOREIGN INVESTMENT COMMERCIAL ENTERPRISE 358 CHAPTER 18 - COMMON JOINT
VENTURE COMPLIMENTS AND COMPLAINTS 18.1 INTRODUCTION 361 18.2 INABILITY
TO MANAGE EFFECTIVELY 361 18.3 INABILITY TO CONTROL TECHNOLOGY FLOW 362
18.4 EXCESSIVE OR UNFAIR PARTNER REMUNERATION FOR SERVICE AGREEMENTS 363
18.5 LIMITED RIGHT TO INFORMATION 363 18.6 ILLIQUID NATURE OF INVESTMENT
364 18.7 ADMINISTRATIVE OBSTACLES TO PAYING THE FOREIGN INVESTOR FOR
SERVICES 364 18.8 LIMITED TERM OF INVESTMENT 364 18.9 PARTNER ACTS AS
GOVERNMENT INFORMANT 365 18.10 REFUSAL TO BE DILUTED PREVENTS GROWTH 365
18.11 JOINT VENTURE DISTRIBUTION ARRANGEMENTS 365 ANNEXES ANNEX 1 -
MODEL JOINT VENTURE CONTRACT 367 ANNEX 2-MODEL ARTICLES OF ASSOCIATION
413 ANNEX 3 - FORM OF FEASIBILITY STUDY 441 ANNEX 4 - TECHNOLOGY
TRANSFER CONTRACT 447 ANNEX 5 - TRADEMARK LICENSE AGREEMENT 467 INDEX
489 |
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| indexdate | 2024-07-09T20:43:42Z |
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