Law of the Peoples Republic of China on Chinese-foreign Equity Joint Ventures

文章摘要 本文系统梳理《中华人民共和国中外合资经营企业法》的核心法律框架,涵盖合资企业的设立审批、组织形式、出资比例、治理结构及利润分配等关键规则。法律明确外国合营者投资比例一般不低于注册资本25%,合资企业采取有限责任公司形式,董事会为最高权力机构,董事长与副董事长由中外双方分别担任。国家保护外国合营者的合法权益,不实行国有化和征收,特殊情况下依法征收并给予相应补偿。合资企业享有税收优惠,外国合营者再投资可申请退还部分所得税。文章为涉外投资者及法律实务人士提供了关于合营企业设立、运营与风险防范的基础性指引,具有重要参考价值。

(Adopted by the Second Session of the Fifth National People's Congress on July 1, 1979
 Revised in the Third Session of the Seventh National People's Congress on April 4, 1990
 Revised for the second time in accordance with "Resolution on Revision of the Law of the People's Republic of China on Chinese-Foreign Equity Joint Venture" of the Fourth Session of the Ninth National People's Congress on March 15, 2001)


 Article 1 With a view to expanding international economic co-operation and technical exchange, the People's Republic of China permits foreign companies, enterprises, other economic organizations or individuals (hereafter referred to as "foreign joint venturers")to joint with Chinese companies, enterprise or other economic organizations (hereafter referred to as "Chinese joint ventures") in establishing joint ventures in the People's Republic of China in accordance with the principle of equality and mutual benefit and subject to approval by the Chinese Government.


 Article 2 The Chinese Government protects, in accordance with the law, the investment of foreign joint ventures, the profits due to them and their other lawful rights and interest in a joint venture, pursuant to the agreement, contract and articles of association approved by the Chinese Government.


Joint ventures shall follow the provisions of the laws and regulations of the People's Republic of China in all their activities.


 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.


 Article 3 The joint venture agreement, contract and articles of association signed by the parties to the venture shall be submitted to the 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.


 Article 4 A joint venture shall take the form of a limited liability company.


The proportion of the investment contributed by the foreign joint venturer(s) shall generally not be less than 25% of the reistered capital of a joint venture.


The parties to the venture shall share the profits, risks and losses in proportion to their respective contributions to the registered capital.


No assignment of the registered capital of a joint venturer shall be made without the consent of the other parties to the venture.


 Article 5 Each party to a joint venture may make its investment in cash, in kind or in industrial property rights, etc.


The technology and the equipment that serve as a foreign joint venturer's investment must be advanced technology and equipment that actually suit our country's needs. If the foreign joint venturer causes losses by deception through the intentional use of backward technology and equipment, it shall pay compensation for the losses.


The investment of a Chinese joint venturer may include the right to the use of a site provided for the joint venture during the period of its operation. If the right to the use of the site does not constitute a part of a Chinese joint venturer's investment, the joint venture shall pay the Chinese Government a fee for its use.


The various investments referred to above shall be specified in the joint venture contract and articles of association, and the value of each (excluding that of the site) shall be jointly assessed by the parties to the venture.


 Article 6 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 venturers 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.


The board of directors is empowered, pursuant to the provisions of the articles of association of the joint venture, to discuss and decide all major problems of the venture: expansion programmes, proposals for production and operating activities, the budget for revenues and expenditures, distribution of profits, plans concerning manpower and pay scales, the termination of business and the appointment or employment of the president, the vice-president(s), the chief engineer, the treasurer and the auditors, as well as their powers and terms of employment, etc.


The offices of president and vice-president(s) (or factory manager and deputy manager(s) shall be assumed by the respective parties to the venture.


Contracts shall be entered into in accordance with the law to prescribe the recruitment, dismissal, remuneration, welfare, labor protection, labor insurance, etc..


 Article 7 The staff employees of the joint venture may establish trade unions in accordance with the law, carry out the activities of the trade union and defend the lawful rights and interests of the employees.


Joint ventures shall provide necessary conditions for the activities of the trade unions thereof.


 Article 8 After payment, pursuant to the provisions of the tax laws of the People's Republic of China, of the joint venture income tax on the gross profit earned by the joint venture and after deduction from the gross profit of a reserve fund, a bonus and welfare fund for staff and workers, and a venture expansion fund, as provided in the articles of association of the joint venture, the net profit shall be distributed to the parties to the joint venture in proportion to their respective contributions to the registered capital.


 A joint venture may enjoy the preferential treatment of reduction of or exemption from tax pursuant to relevant state taxation laws or administrative decrees.


A foreign joint venturer that reinvests in China its share of the net profit may apply for refund of a part of the income taxes already paid.


 Article 9 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.


The pertinent foreign exchange transactions of a joint venture shall be conducted in accordance with the regulations on foreign exchange control of the People's Republic of China.


In its operating activities a joint venture may directly raise funds from foreign banks.


All insurances of joint ventures shall be procured at the insurance companies within the territory of the People's Republic of China.


 Article 10 The Joint venture may purchase the materials such as raw materials, fuels, etc. as needed within the approved scope of business either on the domestic or international market according to the principle of fairness and reasonableness.


 A joint venture is encouraged to market its products outside China. Export products may be distributed to foreign markets through the joint venture directly or through associated agencies, and they may also be distributed through China's foreign trade agencies. Products of the joint venture may also be distributed in the Chinese market.


Whenever necessary, a joint venture may establish branches outside China.


 Article 11 The net profit that a foreign joint venturer 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.


A foreign joint venturer shall be encouraged to deposit in the Bank of China foreign exchange that it is entitled to remit abroad.


 Article 12 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.


 Article 13 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 decided the contract period; and other 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 extend 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.


 Article 14 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 cases of losses caused by a breach of contract, the financial responsibility shall be borne by the party that has violated the contract.


 Article 15 Disputes arising between the parties to a joint venture that the board of directors cannot settle through consultation may be settled through mediation or arbitration by a Chinese arbitration agency or through arbitration by another arbitration agency agreed upon by the parties to the venture.


Where no arbitration clauses have been included in the joint venture contract or no written arbitration agreement have been reached after a dispute arises, any party may bring a suit with the people's court.


 Article 16 This Law shall come into force on the date of its promulgation.

杨春宝一级律师简介

杨春宝一级律师,大成上海高级合伙人、资本市场部主任、国资基金研究中心主任,大成中国区私募基金专业带头人、科技与文化法律研究中心联合牵头人。执业30余年,长期从事私募基金、投融资、并购重组法律服务,尤其对对赌研究颇深且具有非常丰富的实战经验,并专注于金融机构股权投资业务。2004年起多次入选The Legal 500"私募基金"和"公司与商业"等境内外各类律师榜单,代理的中国法院首例适用外国法律审理外国公司的董事损害小股东权益纠纷案入选上海高院发布的《上海法院域外法查明典型案例》和威科先行"要案头条"。入选上海涉外法律人才库、上海市司法局鼎新法治人才库、上海国有企业改制法律顾问团,具有上市公司独立董事任职资格,系多家知名高校的兼职教授或兼职研究生导师及上海市商务委跨国经营人才培训班讲师。出版《私募股权投资基金风险防控操作实务》等16本投融资法律专著。了解更多

常见法律问题

合资企业的组织形式与出资比例有何法定要求?

法律概念与规则解释方面,中外合资经营企业的法定组织形式为有限责任公司,全体股东以其认缴的出资额为限对公司承担责任,公司以其全部资产对外承担责任。法律对出资比例设定了强制性底线,即外国合营者的投资比例一般不得低于合资企业注册资本的25%,这一规则旨在确保外商投资具有实质参与度,同时保留中方对企业的适度控制。各方的利润分享、风险承担及亏损分担均严格按照其实际缴纳的注册资本出资比例进行,注册资本的转让须经其他合营方同意,以维持股东结构的稳定性。n案件事实与实务场景引用方面,依据该法规定,合营各方的出资可以货币、实物、工业产权等形式完成,外国合营者用于出资的技术与设备必须为确实适合我国需要的先进技术与设备,若其故意使用落后技术与设备进行欺骗并造成损失,须依法承担赔偿责任。中方出资可包括场地使用权,若该权利未作为中方出资部分,则合资企业须向中国政府缴纳场地使用费。各项出资的价值(场地除外)由合营各方共同评估确定,并载明于合同与章程中。n实务指引与风险提示方面,外国投资者在设立合资企业前应审慎评估出资财产的真实价值与技术先进性,避免因虚假出资或瑕疵出资引发法律纠纷。中方以场地使用权出资的,应明确约定评估作价方式及期限,防止后续评估争议。设立时须确保审批文件齐全,并在批准后及时办理工商登记取得营业执照,否则不得开展经营活动。另外,转让注册资本前必须取得其他合营方的书面同意,否则该转让行为可能被认定为无效。

合资企业的董事会如何组成并行使决策权?

法律概念与规则解释方面,合资企业的董事会是企业的最高权力机构,其规模与人员构成由合营各方在合同与章程中协商确定,董事由各方分别委派和撤换。董事长与副董事长的人选由合营各方协商确定或由董事会选举产生,法律明确规定其中一方担任董事长的,另一方必须担任副董事长,以确保中外双方在企业管理层面的权力制衡。董事会处理重大问题时,须依据平等互利原则,通过合营各方协商一致作出决定,而非单纯依靠资本多数决,这一制度设计体现了合资企业合作共赢的法律定位。n案件事实与实务场景引用方面,根据该法,董事会有权讨论决定企业的一切重大问题,包括企业发展规划、生产经营活动方案、收支预算、利润分配、劳动工资计划、停业,以及总经理、副总经理、总工程师、总会计师、审计师的任命或聘请及其职权和待遇等。总经理与副总经理(或厂长与副厂长)职位分别由合营各方担任,通过劳动合同明确职工的招用、辞退、报酬、福利、劳动保护、劳动保险等事项,以保障企业日常经营的有序运行。n实务指引与风险提示方面,合营各方在制定章程时应明确董事会的议事规则与表决机制,尤其对于重大事项应约定协商一致的具体程序,防止因决策僵局导致经营停滞。委派董事时应注意董事任职的连续性与稳定性,避免频繁更换影响决策效率。董事长和副董事长的人选分配应结合各方实际出资比例与商业诉求合理确定,并在章程中细化其权限边界。同时,对于总经理等高级管理人员的聘任与解聘流程,建议建立明确的标准,以降低内部管理争议的发生风险。

外国合营者的利润汇出与税收优惠有哪些法律规定?

法律概念与规则解释方面,合资企业依照中国税法缴纳企业所得税后,从税后利润中提取储备基金、职工奖励及福利基金、企业发展基金,其余净利润按各方出资比例进行分配。外国合营者从合资企业分得的净利润,在依法履行纳税义务及合同约定义务后,可以汇往境外,国家保护其合法所得。法律还规定了税收优惠制度,包括合资企业可依国家税收规定享受减税或免税待遇,外国合营者如将分得的净利润用于在中国境内再投资,可申请退还已缴纳的部分所得税。n案件事实与实务场景引用方面,合资企业在取得营业执照后,应当凭照在经国家外汇管理机关批准的银行或其他金融机构开立外汇账户,其外汇收付活动须遵守国家外汇管理规定。合资企业在经营活动中可直接向外国银行筹措资金,但所有保险均须向中国境内的保险公司投保。产品出口所得外汇及境内销售外汇收入均应纳入外汇账户管理,以保障外国合营者利润汇出的合法渠道。再投资退税的适用对象为外国合营者从其分得净利润中用于中国境内再投资的部分,具体退付比例及程序依国家税务规章执行。n实务指引与风险提示方面,外国合营者应确保利润分配决议、完税凭证及外汇汇出申请等文件齐全,严格按照外汇管理流程办理汇出手续,避免因程序瑕疵被拒。需要警惕的是,再投资退税申请具有一定时效限制,投资者应在规定期限内提出,并保留投资证明文件备查。合资企业在设计利润分配方案时,应提前测算储备基金与福利基金的提取比例,确保符合章程约定。此外,外汇账户的开立应选择具有外汇业务资质的银行,日常经营中遵守外汇收支的真实性审核要求,以防违规风险。

以上内容仅供参考,不构成法律意见。如需专业法律服务,请联系杨春宝一级律师:chambers.yang@dentons.cn

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