I. Undertaking section
All matters concerned with applying for the approval of overseas (including Hong Kong and Macao) non-trading investment projects shall be undertaken by the Section of Foreign Economic and Technology Cooperation of the Bureau of Foreign Trade and Economic Cooperation of Nanning City.
II. Application conditions
Any domestic enterprise such as state-owned enterprise, collective enterprise and non-state-run enterprise with competitive economic strength, good credit on exporting products, high management ability and technological level can apply for overseas investment projects.
III. Requirements on application documents
1. The following application and approval procedures shall be followed and requirements on documents shall be conformed to for overseas processing trading projects, which, as part of overseas non-trading investment focusing on current equipment and mature technology, are supposed to spur on and enhance the export of the domestic equipment, technology, raw materials and installation kits in form of processing and assembling beyond the border of China.
(1) Procedures of application and approval
A. Enterprises in Nanning City shall submit their application to both the Bureau of Foreign Trade and Economic Cooperation of Nanning City and the Economic and Trade Commission of Nanning City, with six copies (five for the Bureau and one for the Commission). The said Bureau shall conduct an initial examination with the said Commission. The projects in conformity with requirements shall be reported to the Department of Foreign Trade and Economic Cooperation of the Guangxi Zhuang Autonomous Region and the Economic and Trade Commission of the Guangxi Zhuang Autonomous Region, with reports in duplicate and application papers in quadruplicate (three for the Department and one for the Commission of Guangxi);
B. The State Economic and Trade Commission shall examine the project proposals and flexibility study reports and submit those in conformity with requirements to the Ministry of Foreign Trade and Economic Cooperation for verification and approval;
C. Based on the comments given by the State Economic and Trade Commission, the Ministry of Foreign Trade and Economic Cooperation shall consult with commercial agencies of embassies stationed abroad and examine and verify the projects based on their review. The unit applying for the project shall receive the approval certificate in the Ministry of Foreign Trade and Economic Cooperation (the Development Department) against he approval document transmitted by the Department of Foreign Trade and Economic Cooperation of the Guangxi Zhuang Autonomous Region.
(2) Documents needed
A. Project proposals and flexibility study report (key points for writing and relevant requirements shall be referred to materials concerned with foreign affairs in the Bureau of Foreign Trade and Economic Cooperation of Nanning City and Economic)£»
B. For the overseas joint venture, contract or agreement of the foreign part (referendum copy)
C. Articles of association of the overseas enterprise (referendum copy)
D. Agreement between enterprises of Chinese party stationed abroad (in the case of several Chinese investors);
E. Business license of the unit in charge of the project (photocopy);
F. Import and export records of the unit in charge of the project in the past three years and plans for production abroad and of exports of main products (based on the statistics provided by the customs or imports and exports in foreign trade and economic departments);
G. Resolutions of the Board of Directors of stock enterprise;
H. Annual report of the unit in charge of the project of the previous year and auditing report issued by registered accounting firm;
I. Resume of the person in charge of the processing trade project abroad;
J. Other documents required by examination and approval departments.
Attention: For the project with more than 3 million USD (including 3 million USD) invested by the Chinese partner, the flexibility study report shall not be written until the project proposal has been approved by the economic and trade competent department, while, in principle, other projects¡¯ proposals and flexibility study reports can be submitted at the same time.
(1) Time limit for examination and approval
If the application documents are complete, precise and accordant with the state investment policy of foreign countries, the Bureau of Foreign Trade and Economic Cooperation of Nanning City shall meet and hold consultations with the Economic and Trade Commission of Nanning City within 15 working days and give comments before reporting to the Department of Foreign Trade and Economic Cooperation of the Guangxi Zhuang Autonomous Region and the Economic and Trade Commission of the Guangxi Zhuang Autonomous Region.
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