In September 2006, six ministries and commissions including the Ministry of Commerce (MOFCOM) issued the Acquisition of Domestic Enterprises by Foreign Investors Provisions. These permitted an offshore listed company or its shareholder to swap existing or newly issued equity in that company for existing or newly issued equity in a domestic Chinese company.
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Martin Hu & Partners
On 14 January 2009, the State Administration for Industry and Commerce (SAIC) issued the Registration of Capital Contributions Made in the Form of Equity Administrative Measures. Unlike previous local regulations under which only Chinese individuals and enterprises could make capital contributions in the form of equity, these allow non-Chinese individuals, enterprises and other organizations to do so.
Recently, MOFCOM issued the Contribution of Equity in the Establishment of Foreign Investment Enterprises Administrative Measures (Consultation Draft) to regulate the establishment of foreign investment enterprises (FIEs) by domestic and foreign investors with capital contributions in the form of equity interests in enterprises in China.
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Kevin Xu is a partner, and Yvonne Lu is a senior associate, at Martin Hu & Partners (MHP Law Firm)
8/ Floor, Kerry Parkside Office
1155 Fangdian Road, Pudong Shanghai, China
Postal code: 201204
Fax: +86 21 5010 1222
www.mhplawyer.com
Martin Hu
Tel: +86 21 5010 1666*966
E-mail: martin.hu@mhplawyer.com
Hansen Zhao
Tel: +86 (21) 5010 1666*977
E-mail: hansen.zhao@mhplawyer.com
