1995.10.09
MINISTRY OF FOREIGN ECONOMIC RELATIONS & TRADE / STATE ADMINISTRATION FOR THE INSPECTION OF IMPORT & EXPORT COMMODITY
REGULATIONS ON ESTABLISHMENT OF FOREIGN-FUNDED IMPORT AND EXPORT
COMMODITIES INSPECTION AND APPRAISAL ENTERPRISES
(Promulgated on October 9, 1995)
Article 1 These regulations have been formulated in the light of
relevant laws and regulations to strengthen the control over the work on
import and export commodities inspection and thus ensure the quality of
this inspection work and facilitate the development of foreign trade.
Article 2 The foreign-funded import and export commodities inspection
and appraisal enterprises mentioned in this set of Regulations refer to
foreign-funded enterprises established as Sino-foreign joint equity or
cooperative ventures engaging in inspection, appraisal and certification
of import and export commodities as a third party under the consignment
of consignors and of consignees commodities or other related parties,
hereinafter referred to as FFCIEs.
Article 3 Joint venturing FFCIEs but not wholly foreign-owned ones are
allowed to be set up in the territories of China.
Article 4 With official approval, FFCIE can engage in all or part of the
operations listed below:
Inspection, appraisal and certification on consignment of quality,
specifications, quantity, weight, package, damage, value and technical
conditions of shipment of import and export commodities.
Article 5 The Chinese investor in an FFCIE should be an enterprise
engaged in the inspection and appraisal of import and export commodities
with approval or consent, or by appointment, of the department in
charge.
The foreign investor in an FFCIE should be an enterprise which has more
than three years of experience in the import and export commodity
inspection, appraisal and certification business, accommodated with
qualified managerial, professional and technical personnel and technical
equipment for the work, a relatively steady clientele of its own and a
fairly good international reputation.
Article 6 The registered capital of an FFCIE should not be less than
U.S. $ 500,000. It should have a fixed working site and the technical
conditions and professional personnel suitable for its business
operations.
Article 7 The operational term of an FFCIE is generally not more than 30
years.
Article 8 The establishment of an FFCIE should be approved by the
Ministry of Foreign Trade and Economic Cooperation (MOFTEC) of the
People's Republic of China. The qualifications for business and business
scope of the FFCIE will be examined and administered by the State
Administration for the Inspection of Import and Export Commodities of
the People's Republic of China (SCIA).
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