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| Decision of the National People's Congress on the Revision of the Law of the People's Republic of China on Chinese-Foreign Joint Ventures | | 全国人大常委会关于修改《中外合资经营企业法》的决定 |
(Order No. 27 of the President, Adopted at the 3rd Session of the Seventh National People's Congress on April 4, 1990, and Promulgated by Decree No. 27 of the Chairman of the People's Republic of China on April 4, 1990) | |
（中华人民共和国主席令第27号 1990年4月4日第七届全国人民代表大会第三次会议通过） |
The Decision of the National People's Congress on the Revision of the Law of
the People's Republic of China on Chinese-Foreign Joint Ventures, as adopted at the 3rd Session of the Seventh National People's Congress of People's Republic of China on April 4, 1990, is hereby issued, and shall come into force since the date of issuance. | |
《全国人民代表大会关于修改〈中华人民共和国中外合资经营企业法〉的决定》已由中华人民共和国第七届全国人民代表大会第三次会议于1990年4月4日通过，现予公布，自公布之日起施行。 |
President of People's Republic of China: Yang Shangkun | |
中华人民共和国主席 杨尚昆 |
April 4, 1990 | |
1990年4月4日 |
The 3rd Session of the Seventh National People's Congress examined and discussed the Proposals of the State Council Regarding the Revision (Draft) of the Law of the People's Republic of China on Chinese-Foreign Joint Ventures, and passed the resolutions on the following revision of the Law of the people's Republic of China on Chinese-Foreign Joint Ventures: | |
第七届全国人民代表大会第三次会议审议了国务院关于《中华人民共和国中外合资经营企业法修正案（草案）》的议案，决定对《中华人民共和国中外合资经营企业法》作如下修改： |
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| I. In Article 2, one paragraph is added as the third paragraph as the following:"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." | | 一、第二条增加一款，作为第三款：“国家对合营企业不实行国有化和征收；在特殊情况下，根据社会公共利益的需要，对合营企业可以依照法律程序实行征收，并给予相应的补偿。” |
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| II. Article 3 is revised as the following:" The joint venture agreement, contract and articles of association signed by the parties to the venture shall be submitted to the state 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." | | 二、第三条修改为：“合营各方签订的合营协议、合同、章程，应报国家对外经济贸易主管部门（以下称审查批准机关）审查批准。审查批准机关应在三个月内决定批准或不批准。合营企业经批准后，向国家工商行政管理主管部门登记，领取营业执照，开始营业。” |
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| III. The first paragraph of Article 6 is revised as the following: "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 ventures 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." | | 三、第六条第一款修改为：“合营企业设董事会，其人数组成由合营各方协商，在合同、章程中确定，并由合营各方委派和撤换。董事长和副董事长由合营各方协商确定或由董事会选举产生。中外合营者的一方担任董事长的，由他方担任副董事长。董事会根据平等互利的原则，决定合营企业的重大问题。” |
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| IV. The Second paragraph of Article 7 is revised as the following: "A joint venture may enjoy the preferential treatment of reduction of or exemption from tax pursuant to relevant state taxation laws or administrative decrees." | | 四、第七条第二款修改为：“合营企业依照国家有关税收的法律和行政法规的规定，可以享受减税、免税的优惠待遇。” |
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| V. The first paragraph of Article 8 is revised as the following: "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." | | 五、第八条第一款修改为：“合营企业应凭营业执照在国家外汇管理机关允许经营外汇业务的银行或其他金融机构开立外汇帐户。” |
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| The first paragraph of Article 10 is revised as the following: " The net profit that a foreign joint venture 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." | | 第十条第一款修改为：“外国合营者在履行法律和协议、合同规定的义务后分得的净利润，在合营企业期满或者中止时所分得的资金以及其它资金，可按合营企业合同规定的货币，按外汇管理条例汇往国外。” |
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| Article 11 is revised as the following: "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." | | 第十一条修改为：“合营企业的外籍职工的工资收入和其它正当收入，按中华人民共和国税法缴纳个人所得税后，可按外汇管理条例汇往国外。” |
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| VI. Article 12 is revised as the following: "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 decide the contract period; and others 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 extent 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." | | 六、第十二条修改为：“合营企业的合营期限，按不同行业、不同情况，作不同的约定。有的行业的合营企业，应当约定合营期限；有的行业的合营企业，可以约定合营期限，也可以不约定合营期限。约定合营期限的合营企业，合营各方同意延长合营期限的，应在距合营期满六个月前向审查批准机关提出申请。审查批准机关应自接到申请之日起一个月内决定批准或不批准。” |
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| VII. Article 13 is revised as the following: "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 case of losses caused by a breach of contract, the financial responsibility shall be bone by the party that has violated the contract." | | 七、第十三条修改为：“合营企业如发生严重亏损、一方不履行合同和章程规定的义务、不可抗力等，经合营各方协商同意，报请审查批准机关批准，并向国家工商行政管理主管部门登记，可终止合同。如果因违反合同而造成损失的，应由违反合同的一方承担经济责任。” |
These Resolutions states the implementation from the date of promulgation. | |
本决定自公布之日起施行。 |
The Law of the People's Republic of China on Chinese-Foreign Joint Ventures shall make the relevant revisions on the basis of these Resolutions, and be re-promulgated. | |
《中华人民共和国中外合资经营企业法》根据本决定作相应的修正，重新公布。 |
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