Circular of the Ministry of Commerce of the People’s Republic of China, on Making Further Efforts to Accomplish the Work of Absorbing Foreign Investment in Logistics Field
China import & export Policy 2006-07-17 14:21:16
Departments of commercial administration in all provinces, autonomous regions, municipalities, separately listed cities and Xinjiang Production and Construction Corps:
Since 2002 Ministry of Commerce has approved a batch of foreign-funded enterprises of logistics in experimental units in accordance with spirit of Circular on Related Matters on Establishing Foreign-funded Enterprises of Logistics in Experimental Units (hereinafter referred to as “Circular”), whic h plays an important role in promoting the sound development of the national foreign trade and modern logistics industry. For purposes of expending the opening up in logistics industry based on the experimental units and promoting development of the foreign-funded enterprises of logistics, related m atters are now announced as follows:
1. Foreign-funded enterprises of logistics refer to foreign-funded enterprises whose major business activities are providing logistic and other related services for other enterprises. 2. Foreign investors may apply for establishing foreign-funded enterprises of logistics in accordance with related laws and regulations of foreign investment. 3. Foreign investors are now allowed to establish foreign-funded enterprises of logistics in forms of joint venture, cooperative as well as exclusive ownership. 4. All local departments of commercial administration should make concerted efforts to carry out work of absorbing foreign investment in logistics field. 5. All local departments of commercial administration with administrative power of examination and approval should exercise authorities properly and approve the qualified enterprises in time. 6. In case of any nonconformity with Ministry of Foreign Trade and Economic Cooperation Circular on Related Matters on Establishing Foreign-funded Enterprises of Logistics in Experimental Units (No.615, 2002), please conduct in line with this Circular. 7. This circular takes effect as from Mar 31, 2006.
