BIZCHINA / Foreign Investment Catalogue
Regulations on Foreign-Invested Sourcing Centers for Export
Updated: 2006-04-17 14:05
(The Regulations on Foreign-Invested Sourcing Centers for Export endorsed
at the 5th Routine Meeting of the Ministry of Commerce of the People's
Republic of China on September 29, 2003 is hereby promulgated, which
comes into effect 30 days after the date of promulgation.)
Article 1 The Regulations is formulated in accordance with the laws and
regulations of the People��s Republic of China on foreign investment and
foreign trade administration with a view to furthering the development of
foreign trade, opening up wider and attracting more foreign investment.
Foreign investors shall abide by the Regulations when they invest in the
establishment of such centers.
Article 2 Foreign-invested sourcing centers for export in the Regulations
refer to foreign-invested companies either in the form of sole
proprietorship or Chinese-foreign joint ventures engaging in sourcing for
export. Sourcing centers shall be limited liability companies.
Article 3 Foreign investors applying for establishing sourcing centers
for export shall possess cross-border marking channels and other
capability to source for export.
Chinese investors in joint venture sourcing centers for export shall
enjoy sound creditability and financial strength needed for running the
centers.
Article 4 The registered capital of foreign-invested sourcing centers for
export shall be no less than 30 million RMB yuan. The capital
contribution of Chinese and foreign investors shall be consistent with
relevant existing regulations.
Article 5 Foreign investors may set up sourcing centers by the investment
of its holding companies in China.
Article 6 The following documents shall be submitted to the Ministry of
Commerce for approval after preliminary review and approval by the
competent authority of the provinces, autonomous regions, municipalities
directly under the central government and cities with separate budgetary
plans where the sourcing centers are to be set up.
A. Application letter
B. Registration document of investors(duplicate), Certification of the
Legal Representative( duplicate) and creditability certification papers;
C. Feasibility study report, articles of association (for joint venture
sourcing center, Joint Venture Contract is also required)��
D Name list of members of the Board of Directors and their resume.��
E. Preliminary Approval Notification of Company Names issued by the
industrial and commercial administrative authority.
Upon receiving all application documents, the Ministry of Commerce shall
make its written reply within 30 working days.
Article 7 Foreign-invested sourcing centers for export are entitled to
engage in the following businesses:
1. Sourcing of domestic products for export, export-related warehousing,
information consulting and technical services.
2. Importing raw materials and accessories, entrusting other companies to
process them and exporting the finished products.
3. Importing samples of products to be purchased for export. The quantity
and price of the samples shall be in line with the related regulations of
the Customs on sample import.
Article 8 In the event that the target products are subject to state
quota and license control, the quota and license shall be obtained in
accordance with relevant provisions of the state. For export products
subject to state quota public bidding, sourcing centers shall take part
in the tendering process in the light of relevant state regulations.
Article 9 The opening of foreign exchange accounts and foreign exchange
income and expenditure by foreign-invested sourcing centers shall be
effected according to the existing foreign exchange control regulations.
Article 10 Foreign-invested sourcing centers founded outside bonded areas
claim tax rebate in line with the relevant regulations for export of
domestic products by foreign-invested holding companies. Those founded
within bonded areas may claim tax rebate in line with existing relevant
regulations on tax rebate for exports of companies in bonded areas.
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