Merger and Acquisition of a Domestic Enterprise by Foreign Investors
關(guān)于外國(guó)投資者并購(gòu)境內(nèi)企業(yè)的規(guī)定（中英文）
中華人民共和國(guó)商務(wù)部令2009年第6號(hào)公布《關(guān)于外國(guó)投資者并購(gòu)境內(nèi)企業(yè)的規(guī)定》 商務(wù)部令2009年第6號(hào)
No.6 Decree of the Ministry of Commerce PRC on Promulgation of the
Provisions on M&A of a Domestic Enterprise by Foreign Investors
No.6 Decree of MOFCOM, 2009
為保證《關(guān)于外國(guó)投資者并購(gòu)境內(nèi)企業(yè)的規(guī)定》與《反壟斷法》和《國(guó)務(wù)院關(guān)于經(jīng)營(yíng)者集中申報(bào)標(biāo)準(zhǔn)的規(guī)定》相一致，對(duì)《關(guān)于外國(guó)投資者并購(gòu)境內(nèi)企業(yè)的規(guī)定》作如下修改：
To ensure the Provisions on M&A of a Domestic Enterprise by Foreign
Investors coincide with the Antimonopoly Law and the Provisions of
the State Council on Thresholds for Declaration of Concentrations of
Undertakings, revision of the Provisions on M&A of a Domestic
Enterprise by Foreign Investors have been made as follows:
一、刪除第五章“反壟斷審查”，在“附則”中新增一條作為第五十一條，表述為：“依據(jù)《反壟斷法》的規(guī)定，外國(guó)投資者并購(gòu)境內(nèi)企業(yè)達(dá)到《國(guó)務(wù)院關(guān)于經(jīng)營(yíng)者集中申報(bào)標(biāo)準(zhǔn)的規(guī)定》規(guī)定的申報(bào)標(biāo)準(zhǔn)的，應(yīng)當(dāng)事先向商務(wù)部申報(bào)，未申報(bào)不得實(shí)施交易。”
1. The original Chapter 5 Antimonopoly Review has been
canceled and a new article has been added in the Supplementary
Provisions as Article 51, providing: “According to the provisions of
the Antimonopoly Law, where M&A of a domestic enterprise by a
foreign investor meets the thresholds for declaration of the
Provisions of the State Council on Thresholds for Declaration of
Concentrations of Undertakings, the foreign investor shall make a
declaration with the MOFCOM and shall not carry out the deal without
declaration.”
此后條文、章節(jié)順序依次調(diào)整。
The following articles and chapters shall be adjusted accordingly.
二、對(duì)以下條款作文字修改：
2. The following articles have been revised as follows:
（一）將第十六條第四款中“外國(guó)投資者并購(gòu)境內(nèi)企業(yè)設(shè)立外商投資企業(yè)，如果外國(guó)投資者出資比例低于企業(yè)注冊(cè)資本25%的，投資者以現(xiàn)金出資的，”修改為“外國(guó)投資者并購(gòu)境內(nèi)企業(yè)設(shè)立外商投資企業(yè)，如果外國(guó)投資者出資比例低于企業(yè)注冊(cè)資本25%，投資者以現(xiàn)金出資的”。
Paragraph 4 of Article 16, i.e. “where a foreign
investor merges a domestic enterprise to establish a
foreign-invested enterprise and its/his contribution is less than
25% of the registered capital of the enterprise, the investor shall
make its investment all in cash” shall be revised as “in case a
foreign investor merges a domestic enterprise to establish a
foreign-invested enterprise and its/his contribution is less than
25% of the registered capital of the enterprise, if it/he make
its/his investment in cash”.
（二）將第三十六條第一款“自營(yíng)業(yè)執(zhí)照頒發(fā)之日起6個(gè)月內(nèi)，如果境內(nèi)外公司沒(méi)有完成其股權(quán)變更手續(xù)，則加注的批準(zhǔn)證書和中國(guó)企業(yè)境外投資批準(zhǔn)證書自動(dòng)失效，登記管理機(jī)關(guān)根據(jù)境內(nèi)公司預(yù)先提交的股權(quán)變更登記申請(qǐng)文件核準(zhǔn)變更登記，使境內(nèi)公司股權(quán)結(jié)構(gòu)恢復(fù)到股權(quán)并購(gòu)之前的狀態(tài)”，修改為“自營(yíng)業(yè)執(zhí)照頒發(fā)之日起6個(gè)月內(nèi)，如果境內(nèi)外公司沒(méi)有完成其股權(quán)變更手續(xù)，則加注的批準(zhǔn)證書和中國(guó)企業(yè)境外投資批準(zhǔn)證書自動(dòng)失效。登記管理機(jī)關(guān)根據(jù)境內(nèi)公司預(yù)先提交的股權(quán)變更登記申請(qǐng)文件核準(zhǔn)變更登記，使境內(nèi)公司股權(quán)結(jié)構(gòu)恢復(fù)到股權(quán)并購(gòu)之前的狀態(tài)。”
Paragraph 1 of Article 36, i.e. “if the domestic company
and the overseas company fail to go through the procedures for
alteration of equity within six (6) months since issuance of the
business license, the approval certificate with remarks and the
approval certificate of overseas investment by Chinese enterprise
shall be invalidated automatically, and the registration
administrative authority shall examine and approve the registration
on alteration based on the application documents for registration on
equity alteration submitted by the domestic company in advance, so
as to restore the equity structure of the domestic company to the
status before the equity merger” shall be revised as “if the
domestic company and the overseas company fail to go through the
procedures for alteration of equity within six (6) months since
issuance of the business license, the approval certificate with
remarks and the approval certificate of overseas investment by
Chinese enterprise shall be invalidated automatically. The
registration administrative authority shall examine and approve the
registration on alteration based on the application documents for
registration on equity alteration submitted by the domestic company
in advance, so as to restore the equity structure of the domestic
company to the status before the equity merger”.
（三）將第四十二條第一款第（一）項(xiàng)和第四十四條第一款第（三）項(xiàng)中的“最終控制人”修改為“實(shí)際控制人”。此決定自公布之日起施行。
The “ultimate controller” in Subparagraph 1 of Paragraph 1 of
Article 42 and Subparagraph 3 of Paragraph 1 of Article 44 shall be
revised as “actual controller”. This Decree shall enter into force
on the date of promulgation.
《關(guān)于外國(guó)投資者并購(gòu)境內(nèi)企業(yè)的規(guī)定》根據(jù)本決定作相應(yīng)的修改，重新公布。
The Provisions on M&A of a Domestic Enterprise by Foreign Investors
is re-promulgated according to the relevant revisions herein.
附件：關(guān)于外國(guó)投資者并購(gòu)境內(nèi)企業(yè)的規(guī)定 部長(zhǎng)：陳德銘二〇〇九年六月二十二日
Annex: Provisions on M&A of a Domestic Enterprise by Foreign
Investors Minister: Chen Deming June 22, 2009
關(guān)于外國(guó)投資者并購(gòu)境內(nèi)企業(yè)的規(guī)定
Provisions on M&A of a Domestic Enterprise by Foreign Investors
目錄
Content
第一章 總 則
Chapter 1 General Provisions
第二章 基本制度
Chapter 2 Basic System
第三章 審批與登記
Chapter 3 Approval and Registration
第四章 外國(guó)投資者以股權(quán)作為支付手段并購(gòu)境內(nèi)公司
Chapter 4 Foreign Investors Merge Domestic Companies Using Equity as
the Means of Payment
第一節(jié) 以股權(quán)并購(gòu)的條件
Section 1 Conditions for Equity Merger
第二節(jié) 申報(bào)文件與程序
Section 2 Application Documents and Procedures
第三節(jié) 對(duì)于特殊目的公司的特別規(guī)定
Section 3 Special Provisions on Special Purpose Companies
第五章 附 則
Chapter 5 Supplementary Provisions
第一章 總 則
Chapter 1 General Provisions
第一條
為了促進(jìn)和規(guī)范外國(guó)投資者來(lái)華投資，引進(jìn)國(guó)外的先進(jìn)技術(shù)和管理經(jīng)驗(yàn)，提高利用外資的水平，實(shí)現(xiàn)資源的合理配置，保證就業(yè)、維護(hù)公平競(jìng)爭(zhēng)和國(guó)家經(jīng)濟(jì)安全，依據(jù)外商投資企業(yè)的法律、行政法規(guī)及《公司法》和其他相關(guān)法律、行政法規(guī)，制定本規(guī)定。
Article 1 With a view to promoting and regulating foreign investors’
investment in China, introducing advanced technologies and
management experience from abroad, improving the utilization of
foreign investment, rationalizing the al[] of resources, ensuring
employment and safeguarding fair competition and our country’s
economic security, the Provisions are hereby formulated under the
laws and administrative regulations governing foreign investment
enterprises, the Company Law, and other relevant laws and
administrative regulations..
第二條
本規(guī)定所稱外國(guó)投資者并購(gòu)境內(nèi)企業(yè)，系指外國(guó)投資者購(gòu)買境內(nèi)非外商投資企業(yè)（以下稱“境內(nèi)公司”）股東的股權(quán)或認(rèn)購(gòu)境內(nèi)公司增資，使該境內(nèi)公司變更設(shè)立為外商投資企業(yè)（以下稱“股權(quán)并購(gòu)”）；或者，外國(guó)投資者設(shè)立外商投資企業(yè)，并通過(guò)該企業(yè)協(xié)議購(gòu)買境內(nèi)企業(yè)資產(chǎn)且運(yùn)營(yíng)該資產(chǎn)，或，外國(guó)投資者協(xié)議購(gòu)買境內(nèi)企業(yè)資產(chǎn)，并以該資產(chǎn)投資設(shè)立外商投資企業(yè)運(yùn)營(yíng)該資產(chǎn)（以下稱“資產(chǎn)并購(gòu)”）。
Article 2 For the purposes of the Provisions, mergers and
acquisitions of a domestic enterprise by foreign investors shall
mean that foreign investors, by agreement, purchase equity interest
from shareholders of domestic enterprise with no foreign investment
(hereinafter referred to as the "Domestic Company") or subscribe to
the increase in the registered capital of the Domestic Company with
the result that such Domestic Company changes into a foreign
investment enterprise (hereinafter referred to as "Equity Merger and
Acquisition"); or the foreign investors establish a foreign
investment enterprise and then, through such enterprise, purchase
the assets of a domestic enterprise by agreement and operate such
assets, or the foreign investors purchase the assets of a domestic
enterprise by agreement and use such assets as investment to
establish a foreign investment enterprise to operate such assets
(hereinafter referred to as "Asset Merger and Acquisition").
第三條
外國(guó)投資者并購(gòu)境內(nèi)企業(yè)應(yīng)遵守中國(guó)的法律、行政法規(guī)和規(guī)章，遵循公平合理、等價(jià)有償、誠(chéng)實(shí)信用的原則，不得造成過(guò)度集中、排除或限制競(jìng)爭(zhēng)，不得擾亂社會(huì)經(jīng)濟(jì)秩序和損害社會(huì)公共利益，不得導(dǎo)致國(guó)有資產(chǎn)流失。
Article 3 In mergers and acquisitions of domestic enterprises,
foreign investors shall comply with the laws, administrative
regulations and departmental rules and adhere to the principles of
fairness, reasonableness, compensation for equal value, and honesty
and good faith, and shall not create excessive concentration,
eliminate or hinder competition, disturb the social economic order
or harm the societal public interests, or lead to the loss of
state-owned assets.
第四條 外國(guó)投資者并購(gòu)境內(nèi)企業(yè)，應(yīng)符合中國(guó)法律、行政法規(guī)和規(guī)章對(duì)投資者資格的要求及產(chǎn)業(yè)、土地、環(huán)保等政策。
Article 4 In mergers and acquisitions of domestic enterprises,
foreign investors shall comply with the requirements regarding the
investors’ qualifications and industrial, land and environmental
protection policies as set forth in the laws, administrative
regulations and departmental rules and the relevant requirements
under industry policies.
依照《外商投資產(chǎn)業(yè)指導(dǎo)目錄》不允許外國(guó)投資者獨(dú)資經(jīng)營(yíng)的產(chǎn)業(yè)，并購(gòu)不得導(dǎo)致外國(guó)投資者持有企業(yè)的全部股權(quán)；需由中方控股或相對(duì)控股的產(chǎn)業(yè)，該產(chǎn)業(yè)的企業(yè)被并購(gòu)后，仍應(yīng)由中方在企業(yè)中占控股或相對(duì)控股地位；禁止外國(guó)投資者經(jīng)營(yíng)的產(chǎn)業(yè)，外國(guó)投資者不得并購(gòu)從事該產(chǎn)業(yè)的企業(yè)。
In the case of industries where no wholly foreign ownership is
allowed under the Guidance Catalog of Foreign Investment Industries,
any merger or acquisition of a domestic enterprise engaging in the
industry shall not lead to the foreign investors’ ownership of all
equity interest in the acquired enterprise. In the case of
industries which require the Chinese party to be controlling or
relatively controlling, the Chinese party shall remain to be in the
controlling or relatively controlling position in the acquired
enterprise after any merger or acquisition of the domestic
enterprise engaging in such industries. In the case of industries
where operation by foreign investors is prohibited, no foreign
investors may merge with or acquire any enterprise engaging in such
industries.
被并購(gòu)境內(nèi)企業(yè)原有所投資企業(yè)的經(jīng)營(yíng)范圍應(yīng)符合有關(guān)外商投資產(chǎn)業(yè)政策的要求；不符合要求的，應(yīng)進(jìn)行調(diào)整。
The business scope of the enterprise previously invested by the
merged domestic enterprise shall meet the relevant requirements on
foreign investment industrial policies; otherwise it shall be
modified accordingly.
第五條 外國(guó)投資者并購(gòu)境內(nèi)企業(yè)涉及企業(yè)國(guó)有產(chǎn)權(quán)轉(zhuǎn)讓和上市公司國(guó)有股權(quán)管理事宜的，應(yīng)當(dāng)遵守國(guó)有資產(chǎn)管理的相關(guān)規(guī)定。
Article 5 Where a foreign investor merges a domestic enterprise, if
it involves transference of the property of state-owned assets or
administration of state-owned equity in public listed companies, it
shall comply with the relevant laws and regulations on the
administration of state-owned assets.
第六條 外國(guó)投資者并購(gòu)境內(nèi)企業(yè)設(shè)立外商投資企業(yè)，應(yīng)依照本規(guī)定經(jīng)審批機(jī)關(guān)批準(zhǔn)，向登記管理機(jī)關(guān)辦理變更登記或設(shè)立登記。
Article 6 A foreign investor shall, when merging a domestic
enterprise to establish a foreign-funded enterprise, be subject to
the approval of the examination and approval authorities in
accordance with the Provisions, and make registration of
modification or establishment in the registration authority.
如果被并購(gòu)企業(yè)為境內(nèi)上市公司，還應(yīng)根據(jù)《外國(guó)投資者對(duì)上市公司戰(zhàn)略投資管理辦法》，向國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)辦理相關(guān)手續(xù)。
If the enterprise to be merged is a domestic listed company, the
foreign investor shall also go through relevant procedures with the
securities regulatory authority under the State Council in
accordance with Administration Rules on Foreign Investors’ Strategic
Investment in Listed Companies.
第七條 外國(guó)投資者并購(gòu)境內(nèi)企業(yè)所涉及的各方當(dāng)事人應(yīng)當(dāng)按照中國(guó)稅法規(guī)定納稅，接受稅務(wù)機(jī)關(guān)的監(jiān)督。
Article 7 All parties involved in the merger of domestic enterprises
by foreign investors shall pay the taxes and accept the supervision
of taxation authorities in accordance with China’s relevant laws and
regulations on taxation.
第八條
外國(guó)投資者并購(gòu)境內(nèi)企業(yè)所涉及的各方當(dāng)事人應(yīng)遵守中國(guó)有關(guān)外匯管理的法律和行政法規(guī)，及時(shí)向外匯管理機(jī)關(guān)辦理各項(xiàng)外匯核準(zhǔn)、登記、備案及變更手續(xù)。
Article 8 All parties involved in the merger of domestic enterprises
by foreign investors shall comply with China’s relevant laws and
regulations on foreign exchange control, and shall promptly go
through all procedures on approval, registration, putting on records
and alteration regarding foreign exchange with the competent foreign
exchange administrative authorities.
第二章 基本制度
Chapter 2 Basic System
第九條 外國(guó)投資者在并購(gòu)后所設(shè)外商投資企業(yè)注冊(cè)資本中的出資比例高于25％的，該企業(yè)享受外商投資企業(yè)待遇。
Article 9 If the contribution made by a foreign investor to the
registered capital of the foreign investment enterprise established
after the merger or acquisition is more than 25%, such enterprise
shall be treated as a foreign investment enterprise.
外國(guó)投資者在并購(gòu)后所設(shè)外商投資企業(yè)注冊(cè)資本中的出資比例低于25%的，除法律和行政法規(guī)另有規(guī)定外，該企業(yè)不享受外商投資企業(yè)待遇，其舉借外債按照境內(nèi)非外商投資企業(yè)舉借外債的有關(guān)規(guī)定辦理。
If the contribution made by a foreign investor to the registered
capital of the foreign investment enterprise established after the
merger or acquisition is less than 25%, the enterprise shall not be
treated as a foreign investment enterprise, and it shall be subject
to relevant provisions on contracting a foreign loan applicable to a
non-foreign investment enterprise when the enterprise intends to
contract a foreign loan, unless it is otherwise provided in relevant
laws and regulations.
審批機(jī)關(guān)向其頒發(fā)加注“外資比例低于25%”字樣的外商投資企業(yè)批準(zhǔn)證書（以下稱“批準(zhǔn)證書”）。
The approval authority shall, when issuing the approval certificate
of foreign investment enterprise (hereinafter referred to as
"Approval Certificate"), indicate on the certificate the following
words: "foreign investment contribution is less than 25%".
登記管理機(jī)關(guān)、外匯管理機(jī)關(guān)分別向其頒發(fā)加注“外資比例低于25%”字樣的外商投資企業(yè)營(yíng)業(yè)執(zhí)照和外匯登記證。
The registration administrative authority and the foreign change
administrative authority shall also, when issuing the business
license of foreign investment enterprise and the foreign exchange
registration certificate, indicate on them the words of "The foreign
investment contribution is less than 25%".
境內(nèi)公司、企業(yè)或自然人以其在境外合法設(shè)立或控制的公司名義并購(gòu)與其有關(guān)聯(lián)關(guān)系的境內(nèi)公司，所設(shè)立的外商投資企業(yè)不享受外商投資企業(yè)待遇，但該境外公司認(rèn)購(gòu)境內(nèi)公司增資，或者該境外公司向并購(gòu)后所設(shè)企業(yè)增資，增資額占所設(shè)企業(yè)注冊(cè)資本比例達(dá)到25%以上的除外。
If any domestic company, enterprise or natural person merges its
affiliated domestic company in the name of a company legally
established or controlled by the aforesaid domestic company,
enterprise or natural person in foreign countries or regions, the
foreign investment enterprise established after the merger shall not
be treated as a foreign investment enterprise, unless that the
overseas company purchases any increased capital of domestic
company, or the enterprise established after the merger by the
overseas company increases capital to a proportion of 25% of its
registered capital.
根據(jù)該款所述方式設(shè)立的外商投資企業(yè)，其實(shí)際控制人以外的外國(guó)投資者在企業(yè)注冊(cè)資本中的出資比例高于25%的，享受外商投資企業(yè)待遇。
If the contribution made by a foreign investor other than the actual
controller is more than 25% of the registered capital of the
enterprise established according to this paragraph, the enterprise
may be treated as a foreign investment enterprise.
外國(guó)投資者并購(gòu)境內(nèi)上市公司后所設(shè)外商投資企業(yè)的待遇，按照國(guó)家有關(guān)規(guī)定辦理。
The foreign investment enterprise established after the merger of
domestic listed companies by the foreign investor shall be treated
in accordance with China’s relevant laws and regulations.
第十條
本規(guī)定所稱的審批機(jī)關(guān)為中華人民共和國(guó)商務(wù)部或省級(jí)商務(wù)主管部門(以下稱“省級(jí)審批機(jī)關(guān)”)，登記管理機(jī)關(guān)為中華人民共和國(guó)國(guó)家工商行政管理總局或其授權(quán)的地方工商行政管理局，外匯管理機(jī)關(guān)為中華人民共和國(guó)國(guó)家外匯管理局或其分支機(jī)構(gòu)。
Article 10 For the purposes of this Provisions, the approval
authority in the present provisions shall refer to the Ministry of
Commerce the People’s Republic of China (hereinafter referred to as
"the MOC") or the provincial department of commerce (hereinafter
referred to as "the provincial approval authority"); the
registration administrative authority shall refer to the State
Administration for Industry and Commerce of the People’s Republic of
China (hereinafter referred to as "the SAIC") or its authorized
local administration for industry and commerce; and the foreign
exchange administrative authority shall refer to the State
Administration of Foreign Exchange of the People’s Republic of China
(hereinafter referred to as "the SAFE") or its branches.
并購(gòu)后所設(shè)外商投資企業(yè)，根據(jù)法律、行政法規(guī)和規(guī)章的規(guī)定，屬于應(yīng)由商務(wù)部審批的特定類型或行業(yè)的外商投資企業(yè)的，省級(jí)審批機(jī)關(guān)應(yīng)將申請(qǐng)文件轉(zhuǎn)報(bào)商務(wù)部審批，商務(wù)部依法決定批準(zhǔn)或不批準(zhǔn)。
Where, in accordance with the laws, administrative regulations or
departmental rules, a foreign-funded enterprise established after
the merger belongs to the foreign investment enterprises of certain
types or in certain industries that shall be approved by the MOC,
the provincial approval authority shall transfer the application
documents to the MOC that shall decide on whether or not to grant
the approval in accordance with the law.
第十一條 境內(nèi)公司、企業(yè)或自然人以其在境外合法設(shè)立或控制的公司名義并購(gòu)與其有關(guān)聯(lián)關(guān)系的境內(nèi)的公司，應(yīng)報(bào)商務(wù)部審批。
Article 11 If any domestic company, enterprise or natural person
merges its affiliated domestic company in the name of a company
legally established or controlled by the aforesaid domestic company,
enterprise or natural person in foreign countries or regions, it
shall be subject to the approval of the MOC.
當(dāng)事人不得以外商投資企業(yè)境內(nèi)投資或其他方式規(guī)避前述要求。
The parties thereto shall not evade the above provision by the
domestic investment of a foreign investment enterprise or by any
other means.
第十二條
外國(guó)投資者并購(gòu)境內(nèi)企業(yè)并取得實(shí)際控制權(quán)，涉及重點(diǎn)行業(yè)、存在影響或可能影響國(guó)家經(jīng)濟(jì)安全因素或者導(dǎo)致?lián)碛旭Y名商標(biāo)或中華老字號(hào)的境內(nèi)企業(yè)實(shí)際控制權(quán)轉(zhuǎn)移的，當(dāng)事人應(yīng)就此向商務(wù)部進(jìn)行申報(bào)。
Article 12 If foreign investors merge a domestic enterprise and
obtain the actual control over the enterprise, and if such merger
involves any critical industry, affects or may affect the security
of national economy, or causes transference of actual control over
the domestic enterprise who possesses a resound trademark or China’s
time-honored brand, the parties to the merger shall apply to the
MOC.
當(dāng)事人未予申報(bào)，但其并購(gòu)行為對(duì)國(guó)家經(jīng)濟(jì)安全造成或可能造成重大影響的，商務(wù)部可以會(huì)同相關(guān)部門要求當(dāng)事人終止交易或采取轉(zhuǎn)讓相關(guān)股權(quán)、資產(chǎn)或其他有效措施，以消除并購(gòu)行為對(duì)國(guó)家經(jīng)濟(jì)安全的影響。
Where the parties thereto fail to make an application and the merger
materially affects or may materially affect the security of national
economy, the MOC may, together with other competent authorities,
request the parties to stop the transaction, assign relevant equity
or assets, or take any other effective actions, to eliminate the
affect of the merger on the security of national economy.
第十三條 外國(guó)投資者股權(quán)并購(gòu)的，并購(gòu)后所設(shè)外商投資企業(yè)承繼被并購(gòu)境內(nèi)公司的債權(quán)和債務(wù)。
Article 13 Where a foreign investor carries out equity merger, the
foreign investment enterprise established after the merger shall
succeed to the claims and debts of the merged domestic company.
外國(guó)投資者資產(chǎn)并購(gòu)的，出售資產(chǎn)的境內(nèi)企業(yè)承擔(dān)其原有的債權(quán)和債務(wù)。
Where a foreign investor carries out asset merger, the domestic
enterprise that sells assets shall assume its original claims and
debts.
外國(guó)投資者、被并購(gòu)境內(nèi)企業(yè)、債權(quán)人及其他當(dāng)事人可以對(duì)被并購(gòu)境內(nèi)企業(yè)的債權(quán)債務(wù)的處置另行達(dá)成協(xié)議，但是該協(xié)議不得損害第三人利益和社會(huì)公共利益。債權(quán)債務(wù)的處置協(xié)議應(yīng)報(bào)送審批機(jī)關(guān)。
The foreign investor, the merged domestic enterprise, the creditors
and other parties may reach an agreement additionally on the
disposition of the claims and debts of the merged domestic
enterprise, provided that the agreement shall not damage a third
person’s interests or public interests. The agreement on disposition
of the claims and debts shall be submitted to the approval
authority.
出售資產(chǎn)的境內(nèi)企業(yè)應(yīng)當(dāng)在投資者向?qū)徟鷻C(jī)關(guān)報(bào)送申請(qǐng)文件之前至少15日，向債權(quán)人發(fā)出通知書，并在全國(guó)發(fā)行的省級(jí)以上報(bào)紙上發(fā)布公告。
At least fifteen (15) days prior to the submission of application
documents to the approval organ by the investors, the domestic
enterprise that sells assets shall notify all creditors, and shall
make a public announcement on the newspaper of provincial level or
above published nationwide.
第十四條
并購(gòu)當(dāng)事人應(yīng)以資產(chǎn)評(píng)估機(jī)構(gòu)對(duì)擬轉(zhuǎn)讓的股權(quán)價(jià)值或擬出售資產(chǎn)的評(píng)估結(jié)果作為確定交易價(jià)格的依據(jù)。并購(gòu)當(dāng)事人可以約定在中國(guó)境內(nèi)依法設(shè)立的資產(chǎn)評(píng)估機(jī)構(gòu)。資產(chǎn)評(píng)估應(yīng)采用國(guó)際通行的評(píng)估方法。禁止以明顯低于評(píng)估結(jié)果的價(jià)格轉(zhuǎn)讓股權(quán)或出售資產(chǎn)，變相向境外轉(zhuǎn)移資本。
Article 14 The parties to a merger or acquisition shall determine
the transaction price on the basis of the result of the evaluation
of the equity interest to be transferred or of the assets to be sold
conducted by the asset evaluation institution. The parties to a
merger or acquisition may agree on an asset evaluation institution
established within the territory of China in accordance with the
law. Asset evaluation shall be conducted by adopting internationally
recognized evaluation methods. It is prohibited to transfer equity
interest or sell assets at a price obviously lower than the
evaluation result for the purpose of transferring the capital out of
China in a disguised way.
外國(guó)投資者并購(gòu)境內(nèi)企業(yè)，導(dǎo)致以國(guó)有資產(chǎn)投資形成的股權(quán)變更或國(guó)有資產(chǎn)產(chǎn)權(quán)轉(zhuǎn)移時(shí)，應(yīng)當(dāng)符合國(guó)有資產(chǎn)管理的有關(guān)規(guī)定。
When a foreign investor merges a domestic enterprise, and thus
resulting in the alteration of the equity rights formed from
investment of state-owned assets or transference of the property of
state-owned assets, the evaluation shall be made in accordance with
the relevant provisions on the administration of state-owned assets.
第十五條
并購(gòu)當(dāng)事人應(yīng)對(duì)并購(gòu)各方是否存在關(guān)聯(lián)關(guān)系進(jìn)行說(shuō)明，如果有兩方屬于同一個(gè)實(shí)際控制人，則當(dāng)事人應(yīng)向?qū)徟鷻C(jī)關(guān)披露其實(shí)際控制人，并就并購(gòu)目的和評(píng)估結(jié)果是否符合市場(chǎng)公允價(jià)值進(jìn)行解釋。當(dāng)事人不得以信托、代持或其他方式規(guī)避前述要求。
Article 15 The parties to a merger shall explain whether there is
relationship of affiliation among the parties. If there are two
parties belong to an actual controller, the parties shall disclose
the actual controller to the approval authority, and shall explain
its purpose of merger and whether the result of evaluation is in
conformity to the reasonable market value. The parties thereto shall
not evade the above provision by means of trust, custody or any
other means.
第十六條
外國(guó)投資者并購(gòu)境內(nèi)企業(yè)設(shè)立外商投資企業(yè)，外國(guó)投資者應(yīng)自外商投資企業(yè)營(yíng)業(yè)執(zhí)照頒發(fā)之日起3個(gè)月內(nèi)向轉(zhuǎn)讓股權(quán)的股東，或出售資產(chǎn)的境內(nèi)企業(yè)支付全部對(duì)價(jià)。對(duì)特殊情況需要延長(zhǎng)者，經(jīng)審批機(jī)關(guān)批準(zhǔn)后，應(yīng)自外商投資企業(yè)營(yíng)業(yè)執(zhí)照頒發(fā)之日起6個(gè)月內(nèi)支付全部對(duì)價(jià)的60%以上，1年內(nèi)付清全部對(duì)價(jià)，并按實(shí)際繳付的出資比例分配收益。
Article 16 A foreign investor shall, when merging a domestic
enterprise to establish a foreign investment enterprise, within
three (3) months as of the day when the foreign investment
enterprise is issued its business license, pay all the consideration
to the shareholders who transfer the equities or to the domestic
enterprise which sells the assets. In case of any particular
circumstance under which the period needs to be extended, the
foreign investor shall, approved by the approval authority, pay 60%
or more of the consideration within six (6) months as of the day
when the foreign-funded enterprise is issued its business license,
and pay all the consideration within one (1) year, and the proceeds
shall be distributed according to the proportion of investments it
has actually contributed.
外國(guó)投資者認(rèn)購(gòu)境內(nèi)公司增資，有限責(zé)任公司和以發(fā)起方式設(shè)立的境內(nèi)股份有限公司的股東應(yīng)當(dāng)在公司申請(qǐng)外商投資企業(yè)營(yíng)業(yè)執(zhí)照時(shí)繳付不低于20%的新增注冊(cè)資本，其余部分的出資時(shí)間應(yīng)符合《公司法》、有關(guān)外商投資的法律和《公司登記管理?xiàng)l例》的規(guī)定。其他法律和行政法規(guī)另有規(guī)定的，從其規(guī)定。股份有限公司為增加注冊(cè)資本發(fā)行新股時(shí)，股東認(rèn)購(gòu)新股，依照設(shè)立股份有限公司繳納股款的有關(guān)規(guī)定執(zhí)行。
If a foreign investor purchases the increased capital of a domestic
company, the shareholders of a limited liability company or a
domestic joint stock company established with promoters buying out
all shares issued shall, when the company is applying for a business
license for foreign investment enterprise, pay more than 20% of the
increased registered capital, and the time limit for payment of
remaining increased registered capital shall be subject to the
provisions of the Company Law of the People’s Republic of China,
relevant laws and regulations on foreign investment and the
Regulations of the People’s Republic of China on Administration of
Registration of Companies, unless it is otherwise provided in other
applicable laws and administrative regulations. When a joint stock
company issues new shares to increase its registered capital, the
shareholders may subscribe the new shares in accordance with
relevant provisions on payment of capital contribution when
establishment of a joint stock company.
外國(guó)投資者資產(chǎn)并購(gòu)的，投資者應(yīng)在擬設(shè)立的外商投資企業(yè)合同、章程中規(guī)定出資期限。設(shè)立外商投資企業(yè)，并通過(guò)該企業(yè)協(xié)議購(gòu)買境內(nèi)企業(yè)資產(chǎn)且運(yùn)營(yíng)該資產(chǎn)的，對(duì)與資產(chǎn)對(duì)價(jià)等額部分的出資，投資者應(yīng)在本條第一款規(guī)定的對(duì)價(jià)支付期限內(nèi)繳付；其余部分的出資應(yīng)符合設(shè)立外商投資企業(yè)出資的相關(guān)規(guī)定。
Where a foreign investor carries out an asset merger, it shall
stipulate the time limit for contribution of investments in the
contract and articles of association of the foreign investment
enterprise under planned establishment. Where the foreign investor
establishes a foreign investment enterprise, and through which
purchases the assets of a domestic enterprise and operates such
assets, it shall contribute the investments equivalent to the
consideration of the assets within the time limit for payment of
consideration as provided for in Paragraph 1 of this Article 16; as
for the remaining investments, the time limit for contribution shall
be subject to relevant provisions regarding establishment of a
foreign investment enterprise.
外國(guó)投資者并購(gòu)境內(nèi)企業(yè)設(shè)立外商投資企業(yè)，如果外國(guó)投資者出資比例低于企業(yè)注冊(cè)資本25%，投資者以現(xiàn)金出資的，應(yīng)自外商投資企業(yè)營(yíng)業(yè)執(zhí)照頒發(fā)之日起3個(gè)月內(nèi)繳清；投資者以實(shí)物、工業(yè)產(chǎn)權(quán)等出資的，應(yīng)自外商投資企業(yè)營(yíng)業(yè)執(zhí)照頒發(fā)之日起6個(gè)月內(nèi)繳清。
In case a foreign investor merges a domestic enterpr,ise to establish
a foreign-invested enterprise and its/his contribution is less than
25% of the registered capital of the enterprise, if it/he make
its/his investment in cash, it/he shall contribute the investment
within three (3) months as of the day when the foreign investment
enterprise is issued its business license; or contribute all the
investments in kind or in industrial properties, etc. within six (6)
months as of the day when the foreign investment enterprise is
issued its business license.
第十七條 作為并購(gòu)對(duì)價(jià)的支付手段，應(yīng)符合國(guó)家有關(guān)法律和行政法規(guī)的規(guī)定。
Article 17 The means of payment as the consideration shall conform
to China’s relevant laws and administrative regulations.
外國(guó)投資者以其合法擁有的人民幣資產(chǎn)作為支付手段的，應(yīng)經(jīng)外匯管理機(jī)關(guān)核準(zhǔn)。
Where a foreign investor uses the currency of RMB it lawfully owned
as the means of payment, it shall be subject to the approval of the
foreign exchange administrative authority.
外國(guó)投資者以其擁有處置權(quán)的股權(quán)作為支付手段的，按照本規(guī)定第四章辦理。
Where a foreign investor uses the equity rights it is entitled to
dispose of as the means of payment, it shall be subject to the
provisions Chapter Four hereof.
第十八條
外國(guó)投資者協(xié)議購(gòu)買境內(nèi)公司股東的股權(quán)，境內(nèi)公司變更設(shè)立為外商投資企業(yè)后，該外商投資企業(yè)的注冊(cè)資本為原境內(nèi)公司注冊(cè)資本，外國(guó)投資者的出資比例為其所購(gòu)買股權(quán)在原注冊(cè)資本中所占比例。
Article 18 After a foreign investor purchases by agreement the
equity rights of a domestic company, and the domestic company has
been altered to be established as a foreign investment enterprise,
the foreign investment enterprise’s registered capital shall be the
registered capital of the original domestic company, and the
investment contribution by the foreign investor shall be the
proportion of the purchased equity in the original registered
capital.
外國(guó)投資者認(rèn)購(gòu)境內(nèi)有限責(zé)任公司增資的，并購(gòu)后所設(shè)外商投資企業(yè)的注冊(cè)資本為原境內(nèi)公司注冊(cè)資本與增資額之和。外國(guó)投資者與被并購(gòu)境內(nèi)公司原其他股東，在境內(nèi)公司資產(chǎn)評(píng)估的基礎(chǔ)上，確定各自在外商投資企業(yè)注冊(cè)資本中的出資比例。
Where a foreign investor purchases the increased capital of a
domestic limited liability company, the registered capital of a
foreign investment enterprise established after the merger shall be
the sum of the original domestic company’s registered capital and
the increased capital. The foreign investor and other original
shareholders of the merged domestic company shall, on the basis of
the asset evaluation of the domestic company, determine the
proportions of their respectively contributed investments in the
foreign investment enterprise’s registered capital.
外國(guó)投資者認(rèn)購(gòu)境內(nèi)股份有限公司增資的，按照《公司法》有關(guān)規(guī)定確定注冊(cè)資本。
Where a foreign investor purchases the increased capital of a
domestic joint stock company, the registered capital of a foreign
investment enterprise established after the merger shall be
determined in accordance with the relevant provisions in the Company
Law of the People’s Republic of China.
第十九條 外國(guó)投資者股權(quán)并購(gòu)的，除國(guó)家另有規(guī)定外，對(duì)并購(gòu)后所設(shè)外商投資企業(yè)應(yīng)按照以下比例確定投資總額的上限：
Article 19 Where a foreign investor merges a domestic enterprise by
equity merger, the upper limit of the total investment amount of the
foreign-funded enterprise established after the merger shall be
determined according to the following proportions, unless it is
otherwise provided in relevant state’s laws and regulations:
（一） 注冊(cè)資本在210萬(wàn)美元以下的，投資總額不得超過(guò)注冊(cè)資本的10/7；
(1) if the registered capital is less than USD 2,1 million, the
total investment amount shall not exceed ten sevenths (10/7) of the
registered capital;
（二） 注冊(cè)資本在210萬(wàn)美元以上至500萬(wàn)美元的，投資總額不得超過(guò)注冊(cè)資本的2倍；
(2) if the registered capital is more than USD 2,1 million but less
than USD 5 million, the total investment amount shall not exceed 2
times of the registered capital;
（三） 注冊(cè)資本在500萬(wàn)美元以上至1200萬(wàn)美元的，投資總額不得超過(guò)注冊(cè)資本的2.5倍；
(3) if the registered capital is more than USD 5 million but less
than USD 12 million, the total investment amount shall not exceed
2.5 times of the registered capital;
（四） 注冊(cè)資本在1200萬(wàn)美元以上的，投資總額不得超過(guò)注冊(cè)資本的3倍。
(4) if the registered capital is more than USD 12 million, the total
investment amount shall not exceed 3 times of the registered
capital.
第二十條
外國(guó)投資者資產(chǎn)并購(gòu)的，應(yīng)根據(jù)購(gòu)買資產(chǎn)的交易價(jià)格和實(shí)際生產(chǎn)經(jīng)營(yíng)規(guī)模確定擬設(shè)立的外商投資企業(yè)的投資總額。擬設(shè)立的外商投資企業(yè)的注冊(cè)資本與投資總額的比例應(yīng)符合有關(guān)規(guī)定。
Article 20 Where a foreign investor merges a domestic enterprise by
asset merger, it shall determine the total investment amount of the
foreign investment enterprise under planned establishment according
to the transaction price for purchasing the assets and the actual
scale of production and operation. The proportion of the registered
capital of the foreign investment enterprise under planned
establishment in its total investment amount shall conform to
relevant provisions.
第三章 審批與登記
Chapter 3 Approval and Registration
第二十一條
外國(guó)投資者股權(quán)并購(gòu)的，投資者應(yīng)根據(jù)并購(gòu)后所設(shè)外商投資企業(yè)的投資總額、企業(yè)類型及所從事的行業(yè)，依照設(shè)立外商投資企業(yè)的法律、行政法規(guī)和規(guī)章的規(guī)定，向具有相應(yīng)審批權(quán)限的審批機(jī)關(guān)報(bào)送下列文件：
Article 21 Where a foreign investor merges a domestic enterprise by
equity merger, it shall, pursuant to the total investment amount of
the foreign investment enterprise under planned establishment, the
type of the enterprise and the industry it engages in, submit the
following documents to the approval authority with the corresponding
approval power in accordance with the laws, administrative
regulations and departmental rules on establishment of foreign
investment enterprises:
（一） 被并購(gòu)境內(nèi)有限責(zé)任公司股東一致同意外國(guó)投資者股權(quán)并購(gòu)的決議，或被并購(gòu)境內(nèi)股份有限公司同意外國(guó)投資者股權(quán)并購(gòu)的股東大會(huì)決議；
(1) the resolution of the shareholders of the merged domestic
limited liability company on unanimous consent of the foreign
investor’s equity merger, or resolution of the shareholders’ meeting
of the merged domestic stock limited company on consent of the
foreign investor’s equity merger;
（二） 被并購(gòu)境內(nèi)公司依法變更設(shè)立為外商投資企業(yè)的申請(qǐng)書；
(2) the application for the merged domestic company to be modified
in accordance with the law into and be established as a foreign
investment enterprise;
（三） 并購(gòu)后所設(shè)外商投資企業(yè)的合同、章程；
(3) the contract and articles of association of the foreign
investment enterprise established after the merger;
（四） 外國(guó)投資者購(gòu)買境內(nèi)公司股東股權(quán)或認(rèn)購(gòu)境內(nèi)公司增資的協(xié)議；
(4) the agreement on the foreign investor’s purchase of the
shareholders’ equity of the domestic company or on the subscription
of the domestic company to increase capital;
（五） 被并購(gòu)境內(nèi)公司上一財(cái)務(wù)年度的財(cái)務(wù)審計(jì)報(bào)告；
(5) the financial auditing report of the merged domestic company in
the previous accounting year;
（六） 經(jīng)公證和依法認(rèn)證的投資者的身份證明文件或注冊(cè)登記證明及資信證明文件；
(6) the identification certificate or incorporation certificate and
the credit certificate of the investor notarized and attested
according to law;
（七） 被并購(gòu)境內(nèi)公司所投資企業(yè)的情況說(shuō)明；
(7) the statement on the enterprises invested by the merged domestic
company;
（八） 被并購(gòu)境內(nèi)公司及其所投資企業(yè)的營(yíng)業(yè)執(zhí)照(副本)；
(8) the business licenses (duplicates) of the merged domestic
company and of the enterprises it invests in;
（九） 被并購(gòu)境內(nèi)公司職工安置計(jì)劃；
(9) the plan for re-settlement of the merged domestic company’s
employees;
（十） 本規(guī)定第十三條、第十四條、第十五條要求報(bào)送的文件。
(10) the documents required in articles 13, 14 and 15 hereof.
并購(gòu)后所設(shè)外商投資企業(yè)的經(jīng)營(yíng)范圍、規(guī)模、土地使用權(quán)的取得等，涉及其他相關(guān)政府部門許可的，有關(guān)的許可文件應(yīng)一并報(bào)送。
Where the business scope, scale and obtainment of land use right of
the foreign investment enterprise established after the merger
involves permits from other relevant governmental departments, the
relevant permit documents shall be submitted along with those
provided for in the preceding paragraph.
第二十二條 股權(quán)購(gòu)買協(xié)議、境內(nèi)公司增資協(xié)議應(yīng)適用中國(guó)法律，并包括以下主要內(nèi)容：
Article 22 The equity purchase agreement, capital increase agreement
for domestic company shall be governed by Chinese laws, and shall
include the following contents:
（一） 協(xié)議各方的狀況，包括名稱（姓名），住所，法定代表人姓名、職務(wù)、國(guó)籍等；
(1) information regarding each party to the agreements, including
its name, domicile, and the name, position and nationality, etc. of
its legal representative;
（二） 購(gòu)買股權(quán)或認(rèn)購(gòu)增資的份額和價(jià)款；
(2) the proportions and price of the purchased equity or the capital
increased from subscription;
（三） 協(xié)議的履行期限、履行方式；
(3) the term and method for performance of the agreements;
（四） 協(xié)議各方的權(quán)利、義務(wù)；
(4) the rights and obligations of each party to the agreements;
（五） 違約責(zé)任、爭(zhēng)議解決；
(5) the liabilities for breach of the agreement and settlement of
disputes;
（六） 協(xié)議簽署的時(shí)間、地點(diǎn)。
(6) the date and place for conclusion of the agreements.
第二十三條
外國(guó)投資者資產(chǎn)并購(gòu)的，投資者應(yīng)根據(jù)擬設(shè)立的外商投資企業(yè)的投資總額、企業(yè)類型及所從事的行業(yè)，依照設(shè)立外商投資企業(yè)的法律、行政法規(guī)和規(guī)章的規(guī)定，向具有相應(yīng)審批權(quán)限的審批機(jī)關(guān)報(bào)送下列文件：
Article 23 Where a foreign investor merges a domestic enterprise by
asset merger, it shall, pursuant to the total investment amount of
the foreign investment enterprise under planned establishment, the
type of the enterprise and the industry it engages in, submit the
following documents to the approval authority with the corresponding
approval power in accordance with the laws, administrative
regulations and departmental rules on establishment of foreign
investment enterprises:
（一） 境內(nèi)企業(yè)產(chǎn)權(quán)持有人或權(quán)力機(jī)構(gòu)同意出售資產(chǎn)的決議；
(1) the resolution of the property holders or authority of the
domestic enterprise on agreeing to sell the assets;
（二） 外商投資企業(yè)設(shè)立申請(qǐng)書；
(2) the application for the establishment of the foreign investment
enterprise;
（三） 擬設(shè)立的外商投資企業(yè)的合同、章程；
(3) the contract and articles of association of the foreign
investment enterprise to be established;
（四） 擬設(shè)立的外商投資企業(yè)與境內(nèi)企業(yè)簽署的資產(chǎn)購(gòu)買協(xié)議，或外國(guó)投資者與境內(nèi)企業(yè)簽署的資產(chǎn)購(gòu)買協(xié)議；
(4) the agreement concluded between the foreign investment
enterprise to be established and the domestic enterprise on purchase
of assets, or, the agreement concluded between the foreign investor
and the domestic enterprise on assets purchase;
（五） 被并購(gòu)境內(nèi)企業(yè)的章程、營(yíng)業(yè)執(zhí)照(副本)；
(5) the articles of association and business license (duplicates) of
the domestic enterprise subject to the Merger and Acquisition;
（六） 被并購(gòu)境內(nèi)企業(yè)通知、公告?zhèn)鶛?quán)人的證明以及債權(quán)人是否提出異議的說(shuō)明；
(6) the evidence of notice and public announcement to creditors by
the domestic enterprise subject to the Merger and Acquisition and
statement on whether or not any objection being made by creditors;
（七） 經(jīng)公證和依法認(rèn)證的投資者的身份證明文件或開業(yè)證明、有關(guān)資信證明文件；
(7) the identification certificate or incorporation certificate and
the credit certificate of the investor notarized and attested
according to law;
（八） 被并購(gòu)境內(nèi)企業(yè)職工安置計(jì)劃；
(8) the plan for employees re-settlement of the domestic enterprise
subject to the Merger and Acquisition;
（九） 本規(guī)定第十三條、第十四條、第十五條要求報(bào)送的文件。
(9) the documents required to submitted in Article 13, Article 14
and Article 15 hereof.
依照前款的規(guī)定購(gòu)買并運(yùn)營(yíng)境內(nèi)企業(yè)的資產(chǎn)，涉及其他相關(guān)政府部門許可的，有關(guān)的許可文件應(yīng)一并報(bào)送。
Where the assets of the domestic enterprise purchased and operated
in accordance with the preceding paragraph involves permits from
other relevant governmental departments, the relevant permit
documents shall be submitted along with those provided for in the
preceding paragraph.
外國(guó)投資者協(xié)議購(gòu)買境內(nèi)企業(yè)資產(chǎn)并以該資產(chǎn)投資設(shè)立外商投資企業(yè)的，在外商投資企業(yè)成立之前，不得以該資產(chǎn)開展經(jīng)營(yíng)活動(dòng)。
Where a foreign investor purchases the assets of a domestic
enterprise by agreement and invests such assets in establishing a
foreign investment enterprise, it shall not, prior to the
establishment of the foreign investment enterprise, operate any
business with such assets.
第二十四條 資產(chǎn)購(gòu)買協(xié)議應(yīng)適用中國(guó)法律，并包括以下主要內(nèi)容：
Article 24 The assets purchasing agreement shall be governed by the
laws of China, and shall include the following contents:
（一） 協(xié)議各方的狀況，包括名稱（姓名），住所，法定代表人姓名、職務(wù)、國(guó)籍等；
(1) information of each party to the agreements, including its name
and domicile, and the name, position and nationality, etc. of its
legal representative;
（二） 擬購(gòu)買資產(chǎn)的清單、價(jià)格；
(2) the list and price of the assets under planned purchase;
（三） 協(xié)議的履行期限、履行方式；
(3) the term and method for performance of the agreements;
（四） 協(xié)議各方的權(quán)利、義務(wù)；
(4) the rights and obligations of each party to the agreements;
（五） 違約責(zé)任、爭(zhēng)議解決；
(5) the liabilities for breach of the agreement and settlement of
disputes;
（六） 協(xié)議簽署的時(shí)間、地點(diǎn)。
(6) the date and place for conclusion of the agreements.
第二十五條
外國(guó)投資者并購(gòu)境內(nèi)企業(yè)設(shè)立外商投資企業(yè)，除本規(guī)定另有規(guī)定外，審批機(jī)關(guān)應(yīng)自收到規(guī)定報(bào)送的全部文件之日起30日內(nèi)，依法決定批準(zhǔn)或不批準(zhǔn)。決定批準(zhǔn)的，由審批機(jī)關(guān)頒發(fā)批準(zhǔn)證書。
Article 25 Where a foreign investor merges a domestic enterprise to
establish a foreign investment enterprise, the approval authority
shall, unless otherwise provided for in the present provisions,
decide on, in accordance with the law, whether or not to grant the
approval within thirty (30) days as of the receipt of all the
documents submitted. If the approval authority decides to grant the
approval, it shall issue a certificate of approval.
外國(guó)投資者協(xié)議購(gòu)買境內(nèi)公司股東股權(quán)，審批機(jī)關(guān)決定批準(zhǔn)的，應(yīng)同時(shí)將有關(guān)批準(zhǔn)文件分別抄送股權(quán)轉(zhuǎn)讓方、境內(nèi)公司所在地外匯管理機(jī)關(guān)。
Where the approval authority decides to approve a foreign investor
to purchase by agreement the shareholders’ equity of a domestic
company, it shall simultaneously make copies of the relevant
approval documents separately to the foreign exchange administrative
authority at the equity transferor’s locality and that at the
domestic company’s locality.
股權(quán)轉(zhuǎn)讓方所在地外匯管理機(jī)關(guān)為其辦理轉(zhuǎn)股收匯外資外匯登記并出具相關(guān)證明，轉(zhuǎn)股收匯外資外匯登記證明是證明外方已繳付的股權(quán)收購(gòu)對(duì)價(jià)已到位的有效文件。
The foreign exchange administrative authority at the equity
transferor’s locality shall issue the relevant certificate on
registration of share transference foreign exchange earnings and
foreign exchange from foreign investment, which is the valid
document to prove that the foreign investor has paid the
consideration for equity subscription.
第二十六條 外國(guó)投資者資產(chǎn)并購(gòu)的，投資者應(yīng)自收到批準(zhǔn)證書之日起30日內(nèi)，向登記管理機(jī)關(guān)申請(qǐng)辦理設(shè)立登記，領(lǐng)取外商投資企業(yè)營(yíng)業(yè)執(zhí)照。
Article 26 Where a foreign investor merges a domestic enterprise by
asset merger, it shall, within thirty (30) days as of the receipt of
the approval certificate of foreign investment enterprise, apply to
the administrative authority of registration for making registration
of establishment, and obtaining the foreign investment enterprise’s
business license.
外國(guó)投資者股權(quán)并購(gòu)的，被并購(gòu)境內(nèi)公司應(yīng)依照本規(guī)定向原登記管理機(jī)關(guān)申請(qǐng)變更登記，領(lǐng)取外商投資企業(yè)營(yíng)業(yè)執(zhí)照。
Where a foreign investor merges a domestic enterprise by equity
merger, the merged domestic company shall, in accordance with the
present provisions, apply to the original registration
administrative authority for registration of modification, and
obtaining the foreign investment enterprise’s business license.
原登記管理機(jī)關(guān)沒(méi)有登記管轄權(quán)的，應(yīng)自收到申請(qǐng)文件之日起10日內(nèi)轉(zhuǎn)送有管轄權(quán)的登記管理機(jī)關(guān)辦理，同時(shí)附送該境內(nèi)公司的登記檔案。
If the original registration administrative authority has no
jurisdiction of registration, it shall, within ten (10) days as of
the receipt of the application documents, transfer them to an
administrative authority of registration with the jurisdiction for
handling the registration, and meanwhile attach the domestic
company’s registration files.
被并購(gòu)境內(nèi)公司在申請(qǐng)變更登記時(shí)，應(yīng)提交以下文件，并對(duì)其真實(shí)性和有效性負(fù)責(zé)：
The merged domestic company shall, when applying for registration of
modification, submit the following documents, and be responsible for
their genuineness and validity:
（一）變更登記申請(qǐng)書；
(1) the application for registration of modification;
（二）外國(guó)投資者購(gòu)買境內(nèi)公司股東股權(quán)或認(rèn)購(gòu)境內(nèi)公司增資的協(xié)議；
(2) the agreement on the foreign investor’s purchase of the
shareholders’ equity of the domestic company or on the subscription
of the domestic company to increase capital;
（三）修改后的公司章程或原章程的修正案和依法需要提交的外商投資企業(yè)合同；
(3) the amended articles of association of the company or the
amendment to the original articles of association, and the contract
of the foreign investment enterprise that needs to be submitted in
accordance with the law;
（四）外商投資企業(yè)批準(zhǔn)證書；
(4) the foreign investment enterprise’s approval certificate;
（五）外國(guó)投資者的主體資格證明或者自然人身份證明；
(5) the subject qualification certificate or the natural person’s
identification certificate of the foreign investor;
（六）修改后的董事會(huì)名單，記載新增董事姓名、住所的文件和新增董事的任職文件；
(6) the amended name list of the board of directors, the documents
stating the names and domiciles of the newly increased directors,
and the documents on the positions held by the new directors;
（七）國(guó)家工商行政管理總局規(guī)定的其他有關(guān)文件和證件。
(7) other relevant documents and certificates provided for by the
State Administration for Industry and Commerce.
投資者自收到外商投資企業(yè)營(yíng)業(yè)執(zhí)照之日起30日內(nèi)，到稅務(wù)、海關(guān)、土地管理和外匯管理等有關(guān)部門辦理登記手續(xù)。
The investor shall, within thirty (30) days as of the receipt of the
foreign investment enterprise’s business license, make registration
in the departments of taxation, customs, land administration and
foreign exchange control, etc.
第四章 外國(guó)投資者以股權(quán)作為支付手段并購(gòu)境內(nèi)公司
Chapter 4 Foreign Investors Merge Domestic Companies Using Equity to
Pay
第一節(jié) 以股權(quán)并購(gòu)的條件
Section 1 Conditions for Equity Merger
第二十七條
本章所稱外國(guó)投資者以股權(quán)作為支付手段并購(gòu)境內(nèi)公司，系指境外公司的股東以其持有的境外公司股權(quán)，或者境外公司以其增發(fā)的股份，作為支付手段，購(gòu)買境內(nèi)公司股東的股權(quán)或者境內(nèi)公司增發(fā)股份的行為。
Article 27 The expression of "merger of domestic company by a
foreign investor using its equity to pay" mentioned in this Chapter
4 shall refer to that the shareholder of a overseas company, using
its equity in the overseas company or using its increased shares of
the overseas company to pay, purchases the shareholders’ equity in a
domestic company or purchases the increased shares of a domestic
company.
第二十八條
本章所稱的境外公司應(yīng)合法設(shè)立并且其注冊(cè)地具有完善的公司法律制度，且公司及其管理層最近3年未受到監(jiān)管機(jī)構(gòu)的處罰；除本章第三節(jié)所規(guī)定的特殊目的公司外，境外公司應(yīng)為上市公司，其上市所在地應(yīng)具有完善的證券交易制度。
Article 28 The overseas company mentioned in this Chapter 4 shall be
legally established and its registration place shall have a sound
legal system on company administration, and the company and its
management shall have not been punished by relevant regulatory
authority in recent three (3) years. Except the special purpose
companies as provided for in Section Three of this Chapter Four, the
oversea company shall be a public listed company, and the listing
place shall have a sound management system on securities exchange.
第二十九條 外國(guó)投資者以股權(quán)并購(gòu)境內(nèi)公司所涉及的境內(nèi)外公司的股權(quán)，應(yīng)符合以下條件：
Article 29 When a foreign investor merges a domestic company by
equity merger, the equity of the domestic and overseas companies
involved in the merger shall satisfy the following conditions:
（一） 股東合法持有并依法可以轉(zhuǎn)讓；
(1) the equity is lawfully held by shareholders and may be assigned
according to law;
（二） 無(wú)所有權(quán)爭(zhēng)議且沒(méi)有設(shè)定質(zhì)押及任何其他權(quán)利限制；
(2) the equity is free from any dispute over ownership, any pledge
or any other property encumbrance;
（三） 境外公司的股權(quán)應(yīng)在境外公開合法證券交易市場(chǎng)（柜臺(tái)交易市場(chǎng)除外）掛牌交易；
(3) the equity of the overseas company shall be listed on an
overseas open and lawful securities exchange market (excluding any
over-the-market counter exchange) for transaction;
（四） 境外公司的股權(quán)最近1年交易價(jià)格穩(wěn)定。
(4) the transaction price of the overseas company’s equity is stable
in the latest one (1) year.
前款第（三）、（四）項(xiàng)不適用于本章第三節(jié)所規(guī)定的特殊目的公司。
The preceding Item (3) and Item (4) are not applicable to the
special purpose companies as provided for in Section 3 of this
Chapter 4.
第三十條 外國(guó)投資者以股權(quán)并購(gòu)境內(nèi)公司，境內(nèi)公司或其股東應(yīng)當(dāng)聘請(qǐng)?jiān)谥袊?guó)注冊(cè)登記的中介機(jī)構(gòu)擔(dān)任顧問(wèn)（以下稱“并購(gòu)顧問(wèn)”）。
Article 30 When a foreign investor merges a domestic company by
equity merger, the domestic company or its shareholders shall employ
an intermediary authority established and registered in China to act
as its consultant (hereinafter referred to as "the Merger
Consultant").
并購(gòu)顧問(wèn)應(yīng)就并購(gòu)申請(qǐng)文件的真實(shí)性、境外公司的財(cái)務(wù)狀況以及并購(gòu)是否符合本規(guī)定第十四條、第二十八條和第二十九條的要求作盡職調(diào)查，并出具并購(gòu)顧問(wèn)報(bào)告，就前述內(nèi)容逐項(xiàng)發(fā)表明確的專業(yè)意見。
The Merger Consultant shall conduct a due diligence investigation on
the authenticity of application documents in the merger, the
financial status of overseas company and whether the merger is
compliance with the requirements provided for in Article 14, Article
28 and Article 29 hereof, and shall issue a merger consultant’s
report to give clear and professional advice on the above mentioned
contents item by item.
第三十一條 并購(gòu)顧問(wèn)應(yīng)符合以下條件：
Article 31 The Merger Consultant shall satisfy the following
conditions:
（一） 信譽(yù)良好且有相關(guān)從業(yè)經(jīng)驗(yàn)；
(1) to be with good credit standing and experiences in relevant
industries;
（二） 無(wú)重大違法違規(guī)記錄；
(2) to be without record of serious violation of law or regulation;
（三） 應(yīng)有調(diào)查并分析境外公司注冊(cè)地和上市所在地法律制度與境外公司財(cái)務(wù)狀況的能力。
(3) to be with the ability to investigate and analyze the legal
system in the registration and listing place of the overseas company
as well as the financial status of the overseas company.
第二節(jié) 申報(bào)文件與程序
Section 2 Application Documents and Procedures
第三十二條 外國(guó)投資者以股權(quán)并購(gòu)境內(nèi)公司應(yīng)報(bào)送商務(wù)部審批，境內(nèi)公司除報(bào)送本規(guī)定第三章所要求的文件外，另須報(bào)送以下文件：
Article 32 When a foreign investor merges a domestic company by
equity merger, it shall submit an application to the MOC, and the
domestic company shall also submit the following documents in
addition to the documents as required in Chapter 3 of the present
provisions:
（一） 境內(nèi)公司最近1年股權(quán)變動(dòng)和重大資產(chǎn)變動(dòng)情況的說(shuō)明；
(1) the statement on alteration in equity and material assets of the
domestic company in the latest one (1) year;
（二） 并購(gòu)顧問(wèn)報(bào)告；
(2) the merger consultant’s report;
（三） 所涉及的境內(nèi)外公司及其股東的開業(yè)證明或身份證明文件；
(3) the certificate of incorporation or the identity certificate of
the domestic company, overseas company involved in the merger and
the shareholders of these companies;
（四） 境外公司的股東持股情況說(shuō)明和持有境外公司5％以上股權(quán)的股東名錄；
(4) the statement on shareholding status of the shareholders of the
overseas company and the name list of shareholders who hold more
than 5% equityof the overseas company;
（五） 境外公司的章程和對(duì)外擔(dān)保的情況說(shuō)明；
(5) the articles of association of the overseas company and
statement on external guarantee provided by the overseas company;
（六） 境外公司最近年度經(jīng)審計(jì)的財(cái)務(wù)報(bào)告和最近半年的股票交易情況報(bào)告。
(6) the audited financial statements of the overseas company in
recent years and the statement on stock transaction in the latest
half a year.
第三十三條
商務(wù)部自收到規(guī)定報(bào)送的全部文件之日起30日內(nèi)對(duì)并購(gòu)申請(qǐng)進(jìn)行審核，符合條件的，頒發(fā)批準(zhǔn)證書，并在批準(zhǔn)證書上加注“外國(guó)投資者以股權(quán)并購(gòu)境內(nèi)公司，自營(yíng)業(yè)執(zhí)照頒發(fā)之日起6個(gè)月內(nèi)有效”。
Article33 MOC shall make an examination on the merger application
within thirty (30) days as of the receipt of all application
documents as required, and if the application can satisfy the
conditions, it shall issue a certificate therefore and indicate the
following words on the certificate "a foreign investor merges a
domestic company by equity merger, which is valid within six (6)
months as of the issuance of the business license".
第三十四條
境內(nèi)公司應(yīng)自收到加注的批準(zhǔn)證書之日起30日內(nèi)，向登記管理機(jī)關(guān)、外匯管理機(jī)關(guān)辦理變更登記，由登記管理機(jī)關(guān)、外匯管理機(jī)關(guān)分別向其頒發(fā)加注“自頒發(fā)之日起8個(gè)月內(nèi)有效”字樣的外商投資企業(yè)營(yíng)業(yè)執(zhí)照和外匯登記證。
Article 34 Within thirty (30) days as of the receipt of certificate
&nb,sp; with the above mentioned indication, the domestic company shall go
through the procedures on registration of alteration with the
competent administrative authority of registration and the foreign
exchange administrative authority, and the administrative authority
of registration and the foreign exchange administrative authority
shall respectively issue the business license for a foreign
investment enterprise and the foreign exchange registration
certificate to the domestic company, on which it shall indicated the
words of "valid within eight (8) months as of its issuance".
境內(nèi)公司向登記管理機(jī)關(guān)辦理變更登記時(shí)，應(yīng)當(dāng)預(yù)先提交旨在恢復(fù)股權(quán)結(jié)構(gòu)的境內(nèi)公司法定代表人簽署的股權(quán)變更申請(qǐng)書、公司章程修正案、股權(quán)轉(zhuǎn)讓協(xié)議等文件。
When the domestic company goes through procedures on registration of
alteration with the administrative authority of registration, it
shall in advance submit the application for equity alteration,
amendment to the articles of association and the agreement on equity
transference signed by the legal representative of the domestic
company for the purpose of restoration of equity structure.
第三十五條
自營(yíng)業(yè)執(zhí)照頒發(fā)之日起6個(gè)月內(nèi)，境內(nèi)公司或其股東應(yīng)就其持有境外公司股權(quán)事項(xiàng)，向商務(wù)部、外匯管理機(jī)關(guān)申請(qǐng)辦理境外投資開辦企業(yè)核準(zhǔn)、登記手續(xù)。
Article 35 Within six (6) months as of the issuance of the business
license, the domestic company or its shareholders shall apply to the
MOC and the foreign exchange administrative authority for approval
and registration of establishment of foreign investment enterprise
with respect to the equity of an overseas company held by the
domestic company.
當(dāng)事人除向商務(wù)部報(bào)送《關(guān)于境外投資開辦企業(yè)核準(zhǔn)事項(xiàng)的規(guī)定》所要求的文件外，另須報(bào)送加注的外商投資企業(yè)批準(zhǔn)證書和加注的外商投資企業(yè)營(yíng)業(yè)執(zhí)照。商務(wù)部在核準(zhǔn)境內(nèi)公司或其股東持有境外公司的股權(quán)后，頒發(fā)中國(guó)企業(yè)境外投資批準(zhǔn)證書，并換發(fā)無(wú)加注的外商投資企業(yè)批準(zhǔn)證書。
In addition to the documents to be submitted to the MOC as required
in the Provisions on Approval of Investment in and Establishment of
Overseas Enterprises, the parties to a merger shall also submit the
approval certificate and the business license of the foreign
investment enterprise with the indication as mentioned above. After
the equity held by a domestic company or its shareholders in an
overseas company is approved by the MOC, the MOC shall issue the
Approval Certificate of Overseas Investment by Chinese Enterprises
to the domestic company, and shall also reissue an approval
certificate for the foreign investment enterprise without the above
mentioned indication.
境內(nèi)公司取得無(wú)加注的外商投資企業(yè)批準(zhǔn)證書后，應(yīng)在30日內(nèi)向登記管理機(jī)關(guān)、外匯管理機(jī)關(guān)申請(qǐng)換發(fā)無(wú)加注的外商投資企業(yè)營(yíng)業(yè)執(zhí)照、外匯登記證。
Within thirty (30) days as of the receipt of an approval certificate
for the foreign investment enterprise without indication, the
domestic company shall apply to the administrative authority of
registration and the foreign exchange administrative authority for
re-issuance of the business license for a foreign investment
enterprise and the foreign exchange registration certificate without
indication.
第三十六條 自營(yíng)業(yè)執(zhí)照頒發(fā)之日起6個(gè)月內(nèi)，如果境內(nèi)外公司沒(méi)有完成其股權(quán)變更手續(xù)，則加注的批準(zhǔn)證書和中國(guó)企業(yè)境外投資批準(zhǔn)證書自動(dòng)失效。
Article 36 If the domestic company and the overseas company fail to
go through the procedures for alteration of equity within six (6)
months since issuance of the business license, the approval
certificate with remarks and the approval certificate of overseas
investment by Chinese enterprise shall be invalidated automatically.
登記管理機(jī)關(guān)根據(jù)境內(nèi)公司預(yù)先提交的股權(quán)變更登記申請(qǐng)文件核準(zhǔn)變更登記，使境內(nèi)公司股權(quán)結(jié)構(gòu)恢復(fù)到股權(quán)并購(gòu)之前的狀態(tài)。
The registration administrative authority shall examine and approve
the registration on alteration based on the application documents
for registration on equity alteration submitted by the domestic
company in advance, so as to restore the equity structure of the
domestic company to the status before the equity merger.
并購(gòu)境內(nèi)公司增發(fā)股份而未實(shí)現(xiàn)的，在登記管理機(jī)關(guān)根據(jù)前款予以核準(zhǔn)變更登記之前，境內(nèi)公司還應(yīng)當(dāng)按照《公司法》的規(guī)定，減少相應(yīng)的注冊(cè)資本并在報(bào)紙上公告。
If a foreign investor fails to merge the increased shares of a
domestic company, the domestic company, before the registration
administrative authority approves the registration on alteration in
accordance with the preceding paragraph, shall also reduce its
registered capital accordingly and make public announcement on the
newspaper in accordance with the provisions of Company Law of the
People’s Republic of China.
境內(nèi)公司未按照前款規(guī)定辦理相應(yīng)的登記手續(xù)的，由登記管理機(jī)關(guān)按照《公司登記管理?xiàng)l例》的有關(guān)規(guī)定處理。
If the domestic company fails to go through the procedures of
registration in accordance with the preceding paragraph, the
registration administrative authority shall settle it in accordance
with the relevant provisions of Regulations of the People’s Republic
of China on Administration of Registration of Companies.
第三十七條
境內(nèi)公司取得無(wú)加注的外商投資企業(yè)批準(zhǔn)證書、外匯登記證之前，不得向股東分配利潤(rùn)或向有關(guān)聯(lián)關(guān)系的公司提供擔(dān)保，不得對(duì)外支付轉(zhuǎn)股、減資、清算等資本項(xiàng)目款項(xiàng)。
Article 37 Prior to the obtainment of the approval certificate for a
foreign investment enterprise and the foreign exchange certificate
without indication, the domestic company shall not distribute
profits to any shareholder, or provide any guarantee to any of its
affiliated company, or assign any equity to any third party, or
reduce its registered capital, or make liquidation or any other
matters relating to its assets.
第三十八條 境內(nèi)公司或其股東憑商務(wù)部和登記管理機(jī)關(guān)頒發(fā)的無(wú)加注批準(zhǔn)證書和營(yíng)業(yè)執(zhí)照，到稅務(wù)機(jī)關(guān)辦理稅務(wù)變更登記。
Article 38 The domestic company and its shareholders may go through
the procedures on registration of taxation alteration with the
competent taxation authority with the approval certificate and the
business license without indication issued by the MOC and the
registration administrative authority.
第三節(jié) 對(duì)于特殊目的公司的特別規(guī)定
Section 3 Special Provisions on Special Purpose Companies
第三十九條 特殊目的公司系指中國(guó)境內(nèi)公司或自然人為實(shí)現(xiàn)以其實(shí)際擁有的境內(nèi)公司權(quán)益在境外上市而直接或間接控制的境外公司。
Article 39 The "special purpose company" shall refer to an overseas
company directly or indirectly controlled by a domestic company or
Chinese natural person to realize the interests of a domestic
company actually owned by the aforesaid domestic company or Chinese
natural person by means of overseas listing.
特殊目的公司為實(shí)現(xiàn)在境外上市，其股東以其所持公司股權(quán)，或者特殊目的公司以其增發(fā)的股份，作為支付手段，購(gòu)買境內(nèi)公司股東的股權(quán)或者境內(nèi)公司增發(fā)的股份的，適用本節(jié)規(guī)定。
Where the shareholders of a special purpose company use its equity
in the company as the means of payment, or a special purpose company
uses its increased shares as the means of payment, for the purpose
of realizing oversea listing, to purchase the shareholders’ equity
right in a domestic company or the increased shares of a domestic
company, the provisions of this Section 3 shall apply.
當(dāng)事人以持有特殊目的公司權(quán)益的境外公司作為境外上市主體的，該境外公司應(yīng)符合本節(jié)對(duì)于特殊目的公司的相關(guān)要求。
Where a party to the merger takes an overseas company, as the
subject of overseas listing, the overseas company shall meet the
relevant requirements on special purpose companies as provided for
in this Section 3.
第四十條 特殊目的公司境外上市交易，應(yīng)經(jīng)國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)批準(zhǔn)。
Article 40 Where a special purpose company to be listed overseas,
the listing shall be proved by the securities regulatory authority
under the State Council.
特殊目的公司境外上市所在國(guó)家或者地區(qū)應(yīng)有完善的法律和監(jiān)管制度，其證券監(jiān)管機(jī)構(gòu)已與國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)簽訂監(jiān)管合作諒解備忘錄，并保持著有效的監(jiān)管合作關(guān)系。
The country or region where the special purpose company is listed
shall have a sound legal and regulatory system, and the securities
regulatory authority of such country or region has concluded a
memorandum of understanding on cooperation in regulation with the
securities regulatory authority under the State Council, and has
kept the effective relationship of cooperation in regulation.
第四十一條 本節(jié)所述的權(quán)益在境外上市的境內(nèi)公司應(yīng)符合下列條件：
Article 41 A domestic company whose shares are listed overseas as
mentioned in this Section Three shall meet the following conditions:
（一）產(chǎn)權(quán)明晰，不存在產(chǎn)權(quán)爭(zhēng)議或潛在產(chǎn)權(quán)爭(zhēng)議；
(1) to be with a clear ownership and is free from any dispute or
potential dispute over its equity;
（二）有完整的業(yè)務(wù)體系和良好的持續(xù)經(jīng)營(yíng)能力；
(2) to be with a complete business operation system and good
sustainable business capacity;
（三）有健全的公司治理結(jié)構(gòu)和內(nèi)部管理制度；
(3) to be with a sound corporate governance structure and internal
management system;
（四）公司及其主要股東近3年無(wú)重大違法違規(guī)記錄。
(4) the company and its major shareholders have no record of
material violation of laws or regulations in recent three (3) years.
第四十二條 境內(nèi)公司在境外設(shè)立特殊目的公司，應(yīng)向商務(wù)部申請(qǐng)辦理核準(zhǔn)手續(xù)。
Article 42 Where a domestic company intends to establish a special
purpose company overseas, it shall submit an application to the MOC
for approval.
辦理核準(zhǔn)手續(xù)時(shí)，境內(nèi)公司除向商務(wù)部報(bào)送《關(guān)于境外投資開辦企業(yè)核準(zhǔn)事項(xiàng)的規(guī)定》要求的文件外，另須報(bào)送以下文件：
When submitting the application, in addition to the documents to be
submitted to the MOC as required in the Provisions on Approval of
Investment in and Establishment of Overseas Enterprises, the
domestic company shall also submit the following documents to the
MOC:
（一）特殊目的公司實(shí)際控制人的身份證明文件；
(1) the identity certificate of the actual controller of the special
purpose company;
（二）特殊目的公司境外上市商業(yè)計(jì)劃書；
(2) the business proposal for overseas listing of the special
purpose company;
（三）并購(gòu)顧問(wèn)就特殊目的公司未來(lái)境外上市的股票發(fā)行價(jià)格所作的評(píng)估報(bào)告。
(3) The evaluation report made by the Merger Consultant on the
potential issuing price of shares when the special purpose company
is listed overseas.
獲得中國(guó)企業(yè)境外投資批準(zhǔn)證書后，設(shè)立人或控制人應(yīng)向所在地外匯管理機(jī)關(guān)申請(qǐng)辦理相應(yīng)的境外投資外匯登記手續(xù)。
Upon obtainment of the approval certificate of overseas investment
by Chinese enterprises, the promoter or the controller shall apply
to the foreign exchange administrative authority of its locality for
the corresponding registration of foreign exchange in overseas
investment.
第四十三條 特殊目的公司境外上市的股票發(fā)行價(jià)總值，不得低于其所對(duì)應(yīng)的經(jīng)中國(guó)有關(guān)資產(chǎn)評(píng)估機(jī)構(gòu)評(píng)估的被并購(gòu)境內(nèi)公司股權(quán)的價(jià)值。
Article 43 The total value of shares of the special purpose company
to be issued overseas shall not be less than the total value of
share right of the merged domestic company as evaluated by a
corresponding asset valuation institution in China.
第四十四條 特殊目的公司以股權(quán)并購(gòu)境內(nèi)公司的，境內(nèi)公司除向商務(wù)部報(bào)送本規(guī)定第三十二條所要求的文件外，另須報(bào)送以下文件：
Article 44 Where a special purpose company merges a domestic company
by equity merger, the domestic, in addition to the documents to be
submitted to the MOC as required in Articles 32 hereof, shall also
submit the following documents:
（一）設(shè)立特殊目的公司時(shí)的境外投資開辦企業(yè)批準(zhǔn)文件和證書；
(1) the approval documents and certificates for investment in and
establishment of overseas enterprises when setting up the special
purpose company;
（二）特殊目的公司境外投資外匯登記表；
(2) the registration form of foreign exchange in overseas investment
for the special purpose company;
（三）特殊目的公司實(shí)際控制人的身份證明文件或開業(yè)證明、章程；
(3) the identity certificate or incorporation certificate and
articles of association of the actual controller of the special
purpose company;
（四）特殊目的公司境外上市商業(yè)計(jì)劃書；
(4) the business proposal for overseas listing of the special
purpose company;
（五）并購(gòu)顧問(wèn)就特殊目的公司未來(lái)境外上市的股票發(fā)行價(jià)格所作的評(píng)估報(bào)告。
(5) the evaluation report made by the Merger Consultant on the
potential issuing price of shares when the special purpose company
is listed overseas.
如果以持有特殊目的公司權(quán)益的境外公司作為境外上市主體，境內(nèi)公司還須報(bào)送以下文件：
If an overseas company holding the equity of a special purpose
company is the subject of overseas listing, the domestic company
shall also submit the following documents:
（一）該境外公司的開業(yè)證明和章程；
(1) the incorporation certificate and articles of association of the
overseas company;
（二）特殊目的公司與該境外公司之間就被并購(gòu)的境內(nèi)公司股權(quán)所作的交易安排和折價(jià)方法的詳細(xì)說(shuō)明。
(2) the detailed statement on the transaction arrangement and
evaluation method for the equity of the merged domestic company
between the special purpose company and the overseas company.
第四十五條
商務(wù)部對(duì)本規(guī)定第四十四條所規(guī)定的文件初審?fù)獾模鼍咴瓌t批復(fù)函，境內(nèi)公司憑該批復(fù)函向國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)報(bào)送申請(qǐng)上市的文件。國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)于20個(gè)工作日內(nèi)決定是否核準(zhǔn)。
Article 45 If the MOC approves the documents as provided for in
Article 44 hereof in the preliminary examination, it shall issue a
letter of reply in principle, and the domestic company may use this
letter of reply to submit the documents for application of public
listing to the securities regulatory authority under the State
Council. The securities regulatory authority under the State Council
shall decide on whether approve it or not within twenty (20)
business days.
境內(nèi)公司獲得核準(zhǔn)后，向商務(wù)部申領(lǐng)批準(zhǔn)證書。商務(wù)部向其頒發(fā)加注“境外特殊目的公司持股，自營(yíng)業(yè)執(zhí)照頒發(fā)之日起1年內(nèi)有效”字樣的批準(zhǔn)證書。
After the obtainment of approval, the domestic company shall apply
to the MOC for the approval certificate. The MOC shall issue an
approval certificate indicated with the following words to the
domestic company: "Holding share right by an overseas special
purpose company, valid within one (1) year as of the issuance of the
business license".
并購(gòu)導(dǎo)致特殊目的公司股權(quán)等事項(xiàng)變更的，持有特殊目的公司股權(quán)的境內(nèi)公司或自然人，憑加注的外商投資企業(yè)批準(zhǔn)證書，向商務(wù)部就特殊目的公司相關(guān)事項(xiàng)辦理境外投資開辦企業(yè)變更核準(zhǔn)手續(xù)，并向所在地外匯管理機(jī)關(guān)申請(qǐng)辦理境外投資外匯登記變更。
Where the equity or any other matters of a special purpose company
is changed due to the merger, the domestic company or natural person
who holds the share right of the special purpose company shall use
the approval certificate for a foreign investment enterprise with
the above mentioned indication to go through the procedures with the
MOC on approval of alteration in the enterprise invested and
established overseas with respect to the relevant matters of the
special purpose company, and shall apply to the foreign exchange
administrative authority of its locality for alteration in
registration of foreign exchange in overseas investment.
第四十六條
境內(nèi)公司應(yīng)自收到加注的批準(zhǔn)證書之日起30日內(nèi)，向登記管理機(jī)關(guān)、外匯管理機(jī)關(guān)辦理變更登記，由登記管理機(jī)關(guān)、外匯管理機(jī)關(guān)分別向其頒發(fā)加注“自頒發(fā)之日起14個(gè)月內(nèi)有效”字樣的外商投資企業(yè)營(yíng)業(yè)執(zhí)照和外匯登記證。
Article 46 Within thirty (30) days as of the receipt of certificate
with the above mentioned indication, the domestic company shall go
through the procedures on registration of alteration with the
competent registration administrative authority and the foreign
exchange administrative authority, and the registration
administrative authority and the foreign exchange administrative
authority shall respectively issue the business license for a
foreign investment enterprise and the foreign exchange registration
certificate to the domestic company, on which it shall indicated the
words of "valid within fourteen (14) months as of its issuance".
境內(nèi)公司向登記管理機(jī)關(guān)辦理變更登記時(shí)，應(yīng)當(dāng)預(yù)先提交旨在恢復(fù)股權(quán)結(jié)構(gòu)的境內(nèi)公司法定代表人簽署的股權(quán)變更申請(qǐng)書、公司章程修正案、股權(quán)轉(zhuǎn)讓協(xié)議等文件。
When the domestic company goes through procedures on registration of
alternation with the registration administrative authority, it shall
in advance submit the application for equity alternation, amendment
to the articles of association and the agreement on equity
transference signed by the legal representative of the domestic
company for the purpose of restoration of equity structure.
第四十七條
境內(nèi)公司應(yīng)自特殊目的公司或與特殊目的公司有關(guān)聯(lián)關(guān)系的境外公司完成境外上市之日起30日內(nèi)，向商務(wù)部報(bào)告境外上市情況和融資收入調(diào)回計(jì)劃，并申請(qǐng)換發(fā)無(wú)加注的外商投資企業(yè)批準(zhǔn)證書。
Article 47 Within thirty (30) days after the special purpose company
or an overseas company have affiliation relationship with the
special purpose company has completed the overseas listing, the
domestic company shall report the situation of overseas listing and
the proposal of financing income retrieval to the MOC, and shall
apply to the MOC for re-issuance of an approval certificate for
foreign investment enterprises without indication.
同時(shí)，境內(nèi)公司應(yīng)自完成境外上市之日起30日內(nèi)，向國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)報(bào)告境外上市情況并提供相關(guān)的備案文件。
Furthermore, within thirty days as of the completion of overseas
listing, the domestic company shall report the situation of overseas
listing and submit relevant documents for reference to the
securities regulatory authority under the State Council.
境內(nèi)公司還應(yīng)向外匯管理機(jī)關(guān)報(bào)送融資收入調(diào)回計(jì)劃，由外匯管理機(jī)關(guān)監(jiān)督實(shí)施。
The domestic company shall also submit the proposal of financing
income retrieval to the foreign exchange administrative authority,
and the foreign exchange administrative authority shall supervise
over the implementation of this proposal.
境內(nèi)公司取得無(wú)加注的批準(zhǔn)證書后，應(yīng)在30日內(nèi)向登記管理機(jī)關(guān)、外匯管理機(jī)關(guān)申請(qǐng)換發(fā)無(wú)加注的外商投資企業(yè)營(yíng)業(yè)執(zhí)照、外匯登記證。
Within thirty (30) days as of the receipt of an approval certificate
for foreign investment enterprises without indication, the domestic
company shall apply to the registration administrative authority and
the foreign exchange administrative authority for re-issuance of the
business license for foreign investment enterprises and the foreign
exchange registration certificate without indication.
如果境內(nèi)公司在前述期限內(nèi)未向商務(wù)部報(bào)告，境內(nèi)公司加注的批準(zhǔn)證書自動(dòng)失效，境內(nèi)公司股權(quán)結(jié)構(gòu)恢復(fù)到股權(quán)并購(gòu)之前的狀態(tài)，并應(yīng)按本規(guī)定第三十六條辦理變更登記手續(xù)。
Where the domestic company fails to report to the MOC within the
above mentioned time limit, the approval certificate with indication
issued for the domestic company shall be automatically invalidated,
and the equity structure of the domestic company shall be restored
to the status before the share right merger, and the domestic
company shall go through the procedures on registration of
alteration in accordance with Article 36 hereof.
第四十八條
特殊目的公司的境外上市融資收入，應(yīng)按照?qǐng)?bào)送外匯管理機(jī)關(guān)備案的調(diào)回計(jì)劃，根據(jù)現(xiàn)行外匯管理規(guī)定調(diào)回境內(nèi)使用。融資收入可采取以下方式調(diào)回境內(nèi)：
Article 48 The financing income of a special purpose company from
overseas listing shall be retrieved and used inside the territory of
China in accordance with the proposal of financing income retrieval
filed with the foreign exchange administrative authority and with
the current effective laws and regulations on foreign control. The
financing income may be retrieved into the territory of China by any
of the following means:
（一）向境內(nèi)公司提供商業(yè)貸款；
(1) to provide commercial loans to the domestic company;
（二）在境內(nèi)新設(shè)外商投資企業(yè)；
(2) to establish a new foreign investment enterprise inside the
territory of China;
（三）并購(gòu)境內(nèi)企業(yè)。
(3) to merge a domestic enterprise.
在上述情形下調(diào)回特殊目的公司境外融資收入，應(yīng)遵守中國(guó)有關(guān)外商投資及外債管理的法律和行政法規(guī)。
The retrieval of overseas financing income of a special purpose
company by any of the above mentioned means shall be subject to the
relevant laws and administrative regulations of China on foreign
investment and overseas debt administration.
如果調(diào)回特殊目的公司境外融資收入，導(dǎo)致境內(nèi)公司和自然人增持特殊目的公司權(quán)益或特殊目的公司凈資產(chǎn)增加，當(dāng)事人應(yīng)如實(shí)披露并報(bào)批，在完成審批手續(xù)后辦理相應(yīng)的外資外匯登記和境外投資登記變更。
Where the retrieval of overseas financing income of a special
purpose company causes the share right held by a domestic company
and natural person in the special purpose company to be increased or
causes the net assets value of the special purpose company to be
increased, the parties thereto shall disclose the fact and submit an
application for approval. After the obtainment of approval, the
parties thereto shall go through the procedures on registration of
foreign exchange in overseas investment and registration of
alteration in overseas investment.
境內(nèi)公司及自然人從特殊目的公司獲得的利潤(rùn)、紅利及資本變動(dòng)所得外匯收入，應(yīng)自獲得之日起6個(gè)月內(nèi)調(diào)回境內(nèi)。
If a domestic company and natural person gain any profits, dividends
from the special purpose company or gain foreign exchange income
from the alteration in capital, it shall retrieve such profits,
dividends or income into the territory of China within six (6) month
as of its gaining. The profits and dividends may be accrued to the
foreign exchange under current account or be settled as foreign
exchange.
利潤(rùn)或紅利可以進(jìn)入經(jīng)常項(xiàng)目外匯帳戶或者結(jié)匯。資本變動(dòng)外匯收入經(jīng)外匯管理機(jī)關(guān)核準(zhǔn)，可以開立資本項(xiàng)目專用帳戶保留，也可經(jīng)外匯管理機(jī)關(guān)核準(zhǔn)后結(jié)匯。
With respect to the foreign exchange income from the alteration in
capital, upon approval of the foreign exchange administrative
authority, it may be deposited in a special account for capital
item, or may be settled as foreign exchange upon approval of the
foreign exchange administrative authority.
第四十九條
自營(yíng)業(yè)執(zhí)照頒發(fā)之日起1年內(nèi)，如果境內(nèi)公司不能取得無(wú)加注批準(zhǔn)證書，則加注的批準(zhǔn)證書自動(dòng)失效，并應(yīng)按本規(guī)定第三十六條辦理變更登記手續(xù)。
Article 49 If the domestic company fails to obtain an approval
certificate without indication within one (1) year as of the
issuance of the business license, the approval certificate with
indication shall be invalidated automatically, and the domestic
company shall go through the procedures on registration of
alteration in accordance with Article 36 hereof.
第五十條
特殊目的公司完成境外上市且境內(nèi)公司取得無(wú)加注的批準(zhǔn)證書和營(yíng)業(yè)執(zhí)照后，當(dāng)事人繼續(xù)以該公司股份作為支付手段并購(gòu)境內(nèi)公司的，適用本章第一節(jié)和第二節(jié)的規(guī)定。
Article 50 After the special purpose company has completed its
overseas listing and the domestic company has obtained the approval
certificate without indication and the business license, if the
parties thereto continue to merge a domestic company using the share
right of the special purpose company as the means of payment, it
shall be subject to the provisions of Section 1 and Section 2 of
this Chapter 4.
第五章 附 則
Chapter 5 Supplementary Provisions
第五十一條
依據(jù)《反壟斷法》的規(guī)定，外國(guó)投資者并購(gòu)境內(nèi)企業(yè)達(dá)到《國(guó)務(wù)院關(guān)于經(jīng)營(yíng)者集中申報(bào)標(biāo)準(zhǔn)的規(guī)定》規(guī)定的申報(bào)標(biāo)準(zhǔn)的，應(yīng)當(dāng)事先向商務(wù)部申報(bào)，未申報(bào)不得實(shí)施交易。
Article 51 According to the provisions of the Antimonopoly Law,
where M&A of a domestic enterprise by a foreign investor meets the
thresholds for declaration of the Provisions of the State Council on
Thresholds for Declaration of Concentrations of Undertakings, the
foreign investor shall make a declaration with the MOFCOM and shall
not carry out the deal without declaration.
第五十二條 外國(guó)投資者在中國(guó)境內(nèi)依法設(shè)立的投資性公司并購(gòu)境內(nèi)企業(yè)，適用本規(guī)定。
Article 52 An investment company which is established by a foreign
investor inside the territory of China in accordance with the law
shall be governed by the present provisions to merge a domestic
enterprise.
外國(guó)投資者購(gòu)買境內(nèi)外商投資企業(yè)股東的股權(quán)或認(rèn)購(gòu)境內(nèi)外商投資企業(yè)增資的，適用現(xiàn)行外商投資企業(yè)法律、行政法規(guī)和外商投資企業(yè)投資者股權(quán)變更的相關(guān)規(guī)定，其中沒(méi)有規(guī)定的，參照本規(guī)定辦理。
Where a foreign investor purchases the equity of a domestic foreign
investment enterprise or subscribes the increased capital of a
domestic foreign investment enterprise, it shall be subject to the
current laws, administrative regulations on foreign investment
enterprises and the relevant provisions on alteration in investors’
share right of foreign investment enterprises. If there is no such
applicable provision, it shall be handled by reference to the
present provisions.
外國(guó)投資者通過(guò)其在中國(guó)設(shè)立的外商投資企業(yè)合并或收購(gòu)境內(nèi)企業(yè)的，適用關(guān)于外商投資企業(yè)合并與分立的相關(guān)規(guī)定和關(guān)于外商投資企業(yè)境內(nèi)投資的相關(guān)規(guī)定，其中沒(méi)有規(guī)定的，參照本規(guī)定辦理。
Where a foreign investor merges or acquire a domestic enterprise by
its foreign investment enterprise established in China, it shall be
subject to the relevant provisions on merger and division of foreign
investment enterprises, and the relevant provisions on domestic
investment by foreign investment enterprises. If there is no such
applicable provision, it shall be handled by reference to the
present provisions.
外國(guó)投資者并購(gòu)境內(nèi)有限責(zé)任公司并將其改制為股份有限公司的，或者境內(nèi)公司為股份有限公司的，適用關(guān)于設(shè)立外商投資股份有限公司的相關(guān)規(guī)定，其中沒(méi)有規(guī)定的，適用本規(guī)定。
Where a foreign investor merges a domestic limited liability company
and reauthorizes it into a joint stock company, or the domestic
company is a joint stock company, it shall be subject to the
relevant provisions on establishment of foreign investment joint
stock companies. If there is no such applicable provision, it shall
be subject to the present provisions.
第五十三條 申請(qǐng)人或申報(bào)人報(bào)送文件，應(yīng)依照本規(guī)定對(duì)文件進(jìn)行分類，并附文件目錄。規(guī)定報(bào)送的全部文件應(yīng)用中文表述。
Article 53 The applicant or reporter shall sort relevant documents
and attach a file list thereof in accordance with the present
provisions. All the documents to be submitted shall be in Chinese.
第五十四條 被股權(quán)并購(gòu)境內(nèi)公司的中國(guó)自然人股東，經(jīng)批準(zhǔn)，可繼續(xù)作為變更后所設(shè)外商投資企業(yè)的中方投資者。
Article 54 A Chinese natural person shareholder of the domestic
company merged by equity merger, upon approval, may continue to be
the Chinese investor in the foreign investment enterprise
established after the merger.
第五十五條 境內(nèi)公司的自然人股東變更國(guó)籍的，不改變?cè)摴镜钠髽I(yè)性質(zhì)。
Article 55 If the nationality of a natural person shareholder of the
domestic company is changed, the nature of the company will not be ,
affected therefore.
第五十六條 相關(guān)政府機(jī)構(gòu)工作人員必須忠于職守、依法履行職責(zé)，不得利用職務(wù)之便牟取不正當(dāng)利益，并對(duì)知悉的商業(yè)秘密負(fù)有保密義務(wù)。
Article 56 The personnel of relevant governmental agencies must be
faithful to their duties, perform their responsibilities according
to law, and shall not seek any unlawful interests by taking
advantage of their positions, and shall be liable to keep the
confidentiality of any business secret.
第五十七條 香港特別行政區(qū)、澳門特別行政區(qū)和臺(tái)灣地區(qū)的投資者并購(gòu)境內(nèi)其他地區(qū)的企業(yè)，參照本規(guī)定辦理。
Article 57 The mergers by investors from Hong Kong Special
Administrative Region, Macau Special Administrative Region and
Taiwan Region of the enterprises in other regions inside the
territory shall be handled by referring to the present provisions.
第五十八條 本規(guī)定自公布之日起施行。
Article 58 The present provisions shall enter into force as of
September 8, 2006
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