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Sichuan Provincial Regulations on Protection of Rights and Interests of Overseas Chinese Investment

  (Adopted by the 9th Standing Committee of the People¨s Congress of Sichuan Province at November 30, 2000)

  Article 1 These Regulations are formulated in accordance with the Constitution, relevant laws and regulations and based on Sichuan actual conditions to encourage overseas Chinese to invest in Sichuan and protect their lawful rights and interests.

  Article 2 The overseas Chinese investment referred to hereunder means any investment in Sichuan Province made by any overseas Chinese in the name of itself, a company, an enterprise or any other form of economic organization.

  Article 3 An overseas Chinese invested enterprise is one where the investment is made by an overseas Chinese or the investment return is reinvested, and its investment ratio exceeds 25% (inclusive).

  The previous enterprise where an overseas Chinese has invested continues to be eligible to preferential treatment for an overseas Chinese invested enterprise after such investor has resided in Sichuan.

  Article 4 An overseas Chinese investor may authorize any third person to act as its investment agent, who shall maintain a legally valid authorization letter and assume legal liability.

  Article 5 The relevant overseas Chinese affairs authority of the provincial government is responsible for implementation and administrative supervision of the Regulation.

  The relevant overseas Chinese affairs authority of any government ranking higher than a city or a prefecture confirms the qualification of an overseas Chinese investor if necessary.

  Article 6 The overseas Chinese investor and the invested enterprise(s) must comply with the laws and regulations of the State.

  Article 7 An overseas Chinese investor¨s rights to investment, investment return, person, property, intellectual property and other lawful rights and interests are protected by law and no individual or unit may violate them.  

  Article 8 An overseas Chinese investor may invest with freely convertible currencies, machines and equipment or other in-kinds, industrial property and patented technology.

  Article 9 The authority handling the overseas Chinese investor¨s application for establishing an enterprise in Sichuan shall notify the investor of all documents and requirements at one time necessary for applying for approvals or permits, and shall decide whether or not to approve the establishment of the enterprise within 15 days of receiving the complete documents. The administration for industry and commerce authority shall decide whether or not to register the enterprise within 15 days of receiving the complete documents, and issue the business license within 3 working days if approval is granted for registration.

  Article 10 A registered overseas Chinese invested enterprise is eligible to preferential treatment prescribed by the State and Sichuan Province to encourage foreign investment.

  Where the overseas Chinese invested enterprise is qualified to borrow loans, it will receive credit support in accordance with relevant regulations of the State.

  Article 11 Donations made by an overseas Chinese invested enterprise for the purpose of public interest and relief work may be exempted from taxation.

  Article 12 An overseas Chinese investor may lawfully transfer or inherit its property, industrial property right, investment return and other lawful revenue after the same has been invested. 

  Article 13 An overseas Chinese investor has the right to possess, use, benefit from and dispose its houses.

  If any house owned by the overseas Chinese invested enterprise or the overseas Chinese investor is to be condemned by the State, the condemning party shall provide compensation and resettlement in accordance with relevant laws and regulations. If the condemned party rejects any ownership exchange, such house will be evaluated at the maximum price prevailing in the market.

  Article 14 The investment and other assets of an overseas Chinese investor shall not be nationalized or expropriated by the State. The expropriation and requisition of the farm land invested in and developed by an overseas Chinese invested enterprise or overseas Chinese under extraordinary circumstances and for social interests shall be approved by the Sichuan Provincial Government pursuant to legal procedures. The compensation shall be given based on the assessment made by an assessing institution and be paid in 30 days. The compensation shall be equivalent to the value of the investment on the day when the decision of expropriation is made, including the interest counted at a reasonable interest rate from the date the expropriation starts to the date it ends.  

  Article 15 The profit, dividend, bonus, rent, capital upon liquidation and other lawful revenue acquired through legal investment and management by an overseas Chinese investor may be converted into foreign currency and transferred overseas.

  The wage and other lawful income of overseas Chinese employees of any overseas Chinese invested enterprise may be wired or carried overseas. 

  Article 16 An overseas Chinese investor, its children, and overseas Chinese employees enjoy the same treatment as that granted to residents in Sichuan. The relevant authority shall provide them with assistance when handling their application for temporary residential permits and exit and entry procedures.

  Article 17 No competent administrative authority or individual may interfere with or violate the management right of an overseas Chinese invested enterprise.

  No competent administrative authority may suspend or shut down an overseas Chinese invested enterprise in its own discretion with no legal procedures.  

  Article 18 An overseas Chinese investor association may be established in accordance with law in an area where overseas Chinese invested enterprises are concentrated. The lawful rights and interests of the association and the activities conducted under the Articles of Association are protected by law.

  Article 19 No authority may conduct administrative inspection of any overseas Chinese invested enterprise without express authority granted by laws and regulations. Inspectors must produce their enforcement certificates to the inspected enterprise, and the enterprise may reject such inspection if they fail to produce the same.

  Article 20 The charge items and charge standards for an overseas Chinese invested enterprise must comply with relevant laws, regulations and rules. No authority or unit may set up additional standards and charge in the name of additional items. 

  No governmental authority or unit may requisition persons, funds or property from an overseas Chinese invested enterprise, nor may it impose or impose in a disguised form any kinds of training, evaluation, appraisal, assessment, sponsorship, donation on the overseas Chinese invested enterprise.

  The overseas Chinese invested enterprise has the right to refuse any charge or requisition in violation of the foregoing provisions, and file a complaint with the relevant authority, which shall handle such complaint in accordance with law and keep confidential the complainant. No authority or individual may deliberately raise difficulties for and retaliate against the complainant.

  Article 21 The following solutions are provided in the event of violation of the lawful rights and interests of overseas Chinese investors, their enterprises and their association or any administrative or civil dispute. 

  (1) Consultation or mediation;

  (2) Filing a complaint with the complaint-handling agency, overseas Chinese affairs authority or any relevant authority;

  (3) Applying for an administrative review;

  (4) Arbitration;

  (5) Litigation.

  The handling authority shall handle and reply within the legal timeframe, or reply in 30 days if no timeframe is available.

  Article 22 The governmental authority and its execution departments at various levels shall handle investment matters of an overseas Chinese investor in accordance with law, and provide good management and services to the enterprise.

  Article 23 Each of the overseas Chinese affairs authority at various levels shall conduct works of promulgating laws, consultation, handling complaints and mediating disputes with respect to overseas Chinese investment, and is obligated to request the relevant authority to reply to the matters concerning the protection of the rights and interests of the overseas Chinese investment. 

  Article 24 Public security authorities shall promptly investigate and handle any violation of or crime against personal safety and property of overseas Chinese investors.

  Article 25 The competent authority shall order any unit or directly responsible person breaching these Regulations to cease the foregoing infringement, reprimand the offender or mete out administrative sanctions depending on the seriousness of the circumstances in accordance with relevant laws and regulations; the unit or the person shall compensate for any economic losses caused; the judicial authority shall pursue criminal liability if the unit or the person has committed any crime.

  Article 26 The relevant administrative authority shall notify the overseas Chinese affairs authority of the government at the same level of handling the matters involving overseas Chinese as specified in the Regulation; the relevant administrative authority shall notify beforehand the Overseas Chinese Affairs Office of Sichuan People¨s Government of handling significant matters involving overseas Chinese. 

  Article 27 The rights and interests of Chinese of foreign nationality investing in Sichuan shall be protected by reference to this Regulation. 

  Article 28 These Regulations take effect as of date of promulgation.

 
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