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What detailed regulations are there in the matter of merger or separation of a foreign–invested enterprise?
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| 2005-11-30 15:44:45 |
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| Annexation or separation of a company shall accord with the industry policy of this country, such an annexation or separation is not allowed to result in making any foreign investment become a sole shareholder, a holding operator, or play a leading role in the industries in which no foreign capital is allowed to establish any wholly-owned enterprise, holding company, or play a leading role in any enterprise. The survived or new established company after merger or separation may continue to enjoy the all treatments offered for foreign-invested enterprises and enjoyed by the original company after being approved in accordance with provisions of the examination and approval body, the custom, and the taxing authority. No company is allowed to merge or be merged or separated if its investor has not paid in full in his/her share as the provided in the corporate contract and the articles of association and by-laws, offered cooperation condition, and practically commenced production and/or business. |
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