Law of the People's Republic of China on Sino-Foreign Equity Joint Ventures (Revised in 2001)

Law of the People's Republic of China on Sino-Foreign Equity Joint Ventures (Revised in 2001)

Order of the President [2001] No.48

March 15, 2001

(Passed at the 2nd Session of the 5th National People's Congress on July 1, 1979; amended at the 3rd Session of the 7th National People's Congress on April 4, 1990; further amended pursuant to the Decision to Amend the Law of the People's Republic of China on Sino-Foreign Equity Joint Ventures made at the 4th Session of the 9th National People's Congress on March 15, 2001.)

Article 1 In order to expand international economic cooperation and technological exchange, the People's Republic of China shall permit foreign companies, enterprises, other commercial organizations and individuals (hereinafter referred to as "foreign parties"), subject to the approval of the Chinese government, to form joint ventures with Chinese companies, enterprises and other commercial organizations (hereinafter referred to as "Chinese investors") within the territory of the People's Republic of China based on the principles of equality and mutual benefit.

Article 2 The Chinese government shall protect, in accordance with the law, investments, entitled profits and other lawful rights and interests of foreign parties in joint ventures that are in accordance with agreements, contracts and articles of association approved by the Chinese government.
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