Speech: Legal Framework for Investing in China in Shipping Related Industry

文章摘要 本文系统梳理了外资投资中国航运相关产业的法律框架,涵盖中国外商投资基本法律环境、企业形式选择、设立审批流程、税收制度及航运业专项规定。重点分析了合资企业(EJV)、合作企业(CJV)、独资企业(WFOE)和代表处的利弊,并针对国际海运、港口建设、货运代理、仓储服务等细分领域,结合中国加入WTO的开放承诺,说明了外资股权比例限制及准入时间表。实务价值在于为航运投资者提供合规路径与风险提示,具有历史背景下的参考意义。

This is a speech made at  "Ports & Liners China 2002"

Ports & Liners China 2002, an international symposium held by Singapore IBC Group in Hillton Hotel, Shanghai. With the attendance of leading enterprises' representatives all over the world.

Abstract:

This speech will give you some general idea about the legal framework for investing in China. It covers five parts: the first part is about the general legal environment in China and the basic laws and regulations you must know before you invest in China; the second part will tell you what form can you choose when you invest in China and the advantages and the disadvantages of the forms; the third part focuses on how to establish the foreign investment enterprises; the fourth part introduces the fax for the foreign investment enterprises: corporation income tax, value-added tax and business tax; the fifth part focuses on the particular provisions on shipping related industries, it includes: general policy of China government on foreign investment in shipping related industries, special provisions and Chinaˇs commitment to accession to WTO for the international maritime transport services, auxiliary service, international integrated transport & storage, storage and warehousing services, freight forwarding agency services and ports.

冝 Basic laws and regulations
冝 Forms of foreign investment
冝 Establishment of foreign investment enterprises
冝 Tax for foreign investment company
冝 Particular provisions on shipping related industries

Basic Laws and Regulations
冝 Basic law environment
冝 Guidance of foreign investment
冝 The law on Sino-foreign equity joint venture and its detailed rules and regulations
冝 The law on Sino-foreign cooperative enterprises and its detailed rules and regulations
冝 The law on enterprises operated wholly with foreign capitals and its detailed rules
冝 Income tax law for enterprises with foreign investment and foreign enterprises and its detailed rules and regulations
冝 Other related laws and regulations

Guidance of Foreign Investment
冝 Guidance of foreign investment orientation regulation
冝 Catalogue for the guidance of foreign investment industries
Encouraged industries
Permitted industries
Restricted industries
Prohibited industries

Forms of Foreign Investment
冝 Equity joint venture
冝 Contractual joint venture
冝 Wholly foreign owned enterprises
冝 Sino-foreign joint stock company
冝 Holding company
冝 R&D center
冝 Representative office

Equity Joint Venture(EJV)
冝 Limited liability company
冝 Legal person in China
冝 With both Chinese and foreign investors
冝 Foreign investor(s) hold(s) at least 25% shares
冝 Profit and losses shared according to investorˇs relative share of the registered capital

Contractual Joint Venture (CJV)
冝 Limited liability company or partnership without legal person status
冝 With both Chinese and foreign investors
冝 Contribute capital, distribute income or product and bear risks according to contractual arrangement
冝 Chinese investors generally get fixed benefit
冝 Can be managed by one party(usually foreigner)

Wholly Foreign Owned Enterprises (WFOE)
冝 Limited liability company without Chinese partner
冝 Straightforward management structure
冝 Better intellectual property protection
冝 Easier to terminate
冝 Lack of local support

Representative Office
冝 Non-direct-operational institution
冝 Representing its enterprise
冝 Engage in liaison services, marketing survey, product introduction and technical exchange for its enterprise

How to Get Approval
冝 Project of proposal
冝 Feasibility study report, contract (only for EJVs and CJVs) and articles of association
冝 Certificate of approval
冝 Business license

Who Can Help You
冝 Chinese partner
劔 For EJVs and CJVs, the Chinese partners can help you to prepare and submit the documents and get approval.
冝 Agency
劔 For WFOEs, you have to entrust an agency to help you go through all the procedures till you get the business license.
劔 For EJVs and CJVs, you also can entrust an agency to do it for you.

Corporation Income Tax
冝 Generally:30%+3%(local)
冝 Enterprises registered in special economic zone and manufacturing enterprises registered in state level economic development zone can be levied to 15%.
冝 Enterprises in the industry of resource, transportation, port and wharf and registered in above-mentioned areas can be reduced to 15%.

Tax Holiday
冝 Manufacturing enterprises scheduled to operate for a period over 10 years can be exempted from income tax in the first 2 years from the profit-making year and be granted a 50% reduction in the next 3 years.
冝 High-tech FIE scheduled to operate for a period over 10 years can be exempted from income tax in the first  2 years from the profit-making year and be granted a 50% reduction in the next 6 years.
冝 FIE whose annual export sales value amounts to more than 70% of their annual sales value, can pay the income tax with 50% reduction at that year.

Personal Income Tax

Turnover Tax
冝 Value-added tax (VAT)
generally:17%
冝 Business tax
劔 For transport enterprises: 3%
劔 For storage and other service: 5%

Particular Provisions on
Shipping Related Industry
冝 General policy on foreign investment
冝 International maritime transport services
冝 Auxiliary service
冝 International integrated transport & storage
冝 Storage and warehousing services
冝 Freight forwarding agency services
冝 Ports

General Policy on Foreign
Investment (Encouraged)
冝 Under the encouraged list:
劔 Public wharf construction and operation
劔 Wharf equipments designing and manufacturing
劔 Ferry facility construction and operation (JV)
劔 International maritime transport services (subject to WTO commitment)
劔 International container integrated transport (subject to WTO commitment)
劔 Storage facility construction and operation

General Policy on Foreign Investment (Restricted)
冝 Under the restricted list:
劔 Container manufacturing
劔 Maritime cargo-handling services
劔 Freight forwarding agencies services
劔 Maritime agencies services

International Maritime Transport Services (Freight & Passengers)
冝 Establishment of registered companies for the purpose of operating a fleet under the national flag of P.R.C:
冝 Permitted to establish JV shipping companies;
冝 Foreign investment shall not exceed 49% of the total registered capital of the JV;
冝 The chairman of directors and the general manager of the JV shall be appointed by Chinese side

Auxiliary Service
冝 Maritime cargo-handling services, customs clearance services for maritime transport, container station and depot services:
劔 Only in the form of joint venture
劔 Foreign majority ownership is permitted.
冝 Maritime agencies services
劔 Only in form of joint venture
劔 Foreign equity share no more than 49%
劔 The chairman of directors and the general manager of the JV shall be appointed by Chinese side

International Integrated
Transport & Storage
冝 Encouraged but subject to WTO commitments:
劔 Foreign equity share no more than 50 per cent
劔 No later than 11/12/2002, foreign majority ownership will be permitted
劔 No later than 11/12/2005, wholly foreign ownership will be permitted

Storage and Warehousing Services
冝 Construction and operation of storage related to transport are encouraged
冝 Upon accession to WTO, only in the form of joint venture, with foreign investment not to exceed 49 per cent.
冝 Within one year after Chinaˇs accession, foreign majority will be permitted
冝 Within three years after Chinaˇs accession, wholly foreign-owned subsidiaries will be permitted

Freight Forwarding
Agency Services
冝 Upon accession, foreign freight forwarding agencies which have at least three consecutive years experience are permitted to set up JV, with foreign equity share not to exceed 50 per cent; Within one year after chinaˇs accession, foreign majority ownership will be permitted; Within four years after chinaˇs accession, wholly foreign-owned subsidiaries will be permitted.
冝 The minimum registered capital of the JV shall no less than US$1million. Within four years after accession, national treatment will be accorded.
冝 Operation term of  the JV shall not exceed 20 years.

Freight Forwarding
Agency Services (2)
冝 After one year operating in china, the JVs can set up branches when the registered capital of the both sides has been provided. Another US$120,000 shall be added to the original registered capital of the JV for the set-up of each branch. Within two years after chinaˇs accession, this additional registered capital requirement will be implemented on the basis of national treatment.
冝 A foreign freight forwarding agency may set up a second JV after its first JV has been in operation for five years. Within two years after Chinaˇs accession to the WTO, this requirement will be reduced to two years.

Ports
冝 Construction and operation of ports is encouraged.
冝 The operation term can be longer than 30 years
冝 Scope of business can be expanded into related business under approval, if the amount of the investment is large and profit returns are long
冝 Income tax rate is 15%, if operation term is over 15 years can be exempted from income tax in the first 5 years from the profit-making year and be granted a 50% reduction in the next 5 years.
冝 Reinvestment in wharf, 40% of the income tax paid can be refunded

Thank You
Good luck in China!
Contact me if you need any help:
Chambers Yang
Attorney-at-law/Partner
Haworth & Lexon
Suite 606 CIMIC Tower, 1090 Century Avenue, Pudong, Shanghai 200120, P.R. China
Tel: 0086-21-68767750   Fax: 0086-21-68767740
E-mail: chambers@HLlawyers.com
Http://www.HLlawyers.com

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

外资在中国设立航运企业可选哪些形式?

文章明确区分了外商投资的多种组织形式及其适用范围。对于从事国际海运的船公司,设立合资企业时外方股权上限为49%,且中方需控制关键管理职位;对于港口公共码头建设与经营、码头设备制造等,属于政府鼓励类项目,放宽了外资准入限制。在实务场景中,若投资者希望实现自主运营并保护技术秘密,可选择独资企业,例如设立代表处则无法直接签订业务合同,仅能进行前期联络与市场调研。需要注意的是,合资企业设立需提交项目建议书、可行性研究报告、合同及章程,经审批取得批准证书和营业执照;独资企业往往须委托专业代理机构处理全部注册程序。此外,不同形式对税收优惠的适用也有差异,生产型合资企业可享受两免三减半,而代表处因无经营所得一般不适用此项优惠。因此,投资者应结合项目阶段、控制权需求和审批效率,综合选择最有利的形式。

中国对航运相关外资的税收优惠有哪些?

文章以2002年数据为背景,说明外资航运企业在华面临的主要税负结构:企业所得税一般33%,但在特定区域和行业可降至15%;增值税17%、运输营业税3%、仓储服务营业税5%。举例而言,若一家外资港口运营公司注册在经济技术开发区且从事港口码头建设,可申请15%的所得税率,并因属于鼓励类行业获得额外减免。经营期超过十年的制造型或高新企业还能享受从获利年度起的两免三减半或两免六减半。对于年出口销售占比70%以上的企业,当年所得税还可再打五折。这些优惠直接降低项目前期运营成本,但需满足严格的申报条件。从实务指引角度,投资者应关注四个方面:第一,注册地是否位于特殊经济区域;第二,经营范围是否属于鼓励类目录;第三,是否能够证明经营期限和出口比例;第四,及时办理税收减免备案。同时需注意,运输与仓储的营业税率差异,可能影响关联交易的定价安排。若企业因会计处理不当而将业务混淆归类,可能引发税务调整风险。因此,建议建立分业务核算体系,并保留完整凭证,以应对税务机关的核查。

中国入世后航运服务开放承诺的法律要点是什么?

中国加入世界贸易组织时对航运相关服务作出了具体开放承诺,其法律要点在于逐步放宽外资股权限制并给予国民待遇。国际海运货物和旅客运输方面,允许设立合资船公司,但外资持股不得超过49%,且董事长和总经理由中方任命;国际集装箱多式联运在2002年12月11日前外资不得超过50%,此后允许外资控股,2005年12月11日后允许独资。仓储服务方面,入世时仅限合资且外资不超过49%,一年后允许外资控股,三年后允许独资。货运代理服务方面,入世时允许具有三年以上经验的外资货运代理设立合资企业,外资不超过50%,一年后允许控股,四年后允许独资,且合资企业最低注册资本不低于100万美元。港口服务中的船舶装卸、集装箱站与堆场业务,仅允许合资且外资可拥有多数股权;船务代理则实行合资且外资不超过49%。此外,鼓励类项目包括公共码头建设经营、码头设备设计制造、轮渡设施建设和运营,这体现了中国在港口基建领域积极吸引外资的取向。实务中,投资者应依据企业设立时间点确定适用的股权上限,并注意承诺中的时间窗口。例如在2002年后再设立货代企业,可能无需再受50%比例约束。同时,从事国际海运的合资企业须保证中国方在决策层的主导地位,这影响实际控制权安排。投资者在起草合资协议时,应明确董事会席位和总经理任免程序,以免与强制规定冲突。随着中国市场开放程度加深,后续法规可能放宽更多限制,但基于文章所载的承诺框架,可指导理解开放轨迹。

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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