The Ministry of Commerce of China (the “MCC”) has recently revised the Foreign Investment Industry Guidance Catalog (the “Catalog”) recently, which will come into effect on 30th, January, 2012.
The Catalog is the important industry policy on guiding the foreign investment, and before this modification, it has been modified forth in 1997, 2001, 2002, 2004 and 2007 since the promulgation in 1995. And this post is the conclusion on the newly revised Catalog by Bridge IP Law Commentary.
I. To support the upgrade & update of the manufacturing industry and industrial restructuring
The modification deletes the items less satisfactory to the development demands of China industries or related to those have been or tend to be excess.
II. To encourage the new industry
The manufacture of new technology equipment has been added up to the encouraged items, and many technology standards have been adjusted.
III. To meet the demands of the development of knowledge economy and service industry
There also has added 9 encouraged items in this modification, and thus increase the portion of the service industry items in the encouraged projects; furthermore, the item of medical institution investment and financial lease have been adjusted from the limited projects to the encouraged projects.
IV. To serve the regional economy development strategy
On the strategy of new round economy development in west region of China, Northeast China Revitalization and the rise of central China, the modification has also involved and will be detailed in the Catalog on the Foreign Investment in Competitive Industry in Mid-west China issued later.
For the question that, could the revision of this time influence the past projects, the related administration replied that those projects approved before the modification will not be influences, which the capital increase, share transfer and overseas listing of the project companies shall follow the newly revised Catalog, and could be influenced shall they belong to the prohibited or limited projects.
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Author: Mr. Albert Chen
Attorney-at-law of DeBund Law Offices
Co-author: Mr. You Yunting
Founder & Editor-in-Chief of Bridge IP Law Commentary
Partner & Attorney-at-law of Shanghai DeBund Law Offices
Email: Bridge@chinaiplawyer.com, Tel: 8621-5213-4900,
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