The Notification of Some Issues on the Introduction of Advanced
Technology of Foreign-Invested Enterprises
(Issued by the Ministry of Foreign Trade and Economic Cooperation of
the People's Republic of China on September28, 1999)
With reference to the purchase and payment of hard currency for introducing advanced technology of foreign-invested enterprises the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) consulted with the State Administration of Foreign Exchange. After consultation the State Administration of Foreign Exchange gave a notice of simplifying the Procedure of handling the purchase and payment of hard currency for introducing advanced technology of foreign-invested enterprises on Sep.28, 1999. In order to make the cooperation well the following is issued by the Ministry of Foreign Trade and Economic Cooperation:
A. in compliance with the government's laws and regulations of absorbing foreign investments and the rules from the notice issued by the State .administration of Foreign Exchange on Sep.28,1999the competent authorities of foreign trade and economic affairs in different regions and provinces must have well-handling of the examination and approval of the contracts of introducing advanced technology of foreign-invested enterprises.
B. During the procedure of newly-approval of registration (or set-up) of foreign invested
enterprises (their joint-venture contracts and rules) the relevant authorities must clarify the approved joint-venture contracts including the appendix to the technology introduced contracts (showing the name of the contract of introducing advanced technology) while the enterprises taking the technology introduced contracts as the appendix to the joint-venture contracts.
C. Refer to the approved technology-introduced contracts, which were taken as the appendix to the joint-venture contracts of foreign-invested enterprises the foreign investment dept. Of the previous approval organs should produce the letters of confirmation, which show the names of technology-introduced contracts.
D. The competent authorities of foreign trade and economic affairs in different regions and provinces must strengthen the examination and verification of the reality of technology-introduced contracts. Foreign investors taking their advanced technology as a part of their investments is beyond the scope of confirmation.
