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China has published new Catalogue for Guidance of Foreign Investment Industries
On 24 December 2011, China's National Development and Reform Commission and Ministry of Commerce jointly published the Catalogue for Guidance of Foreign Investment Industries which will take effect on 30 January 2012 and will replace the previous version published in 2007.
Such guidance catalogue is normally renewed after a three to four years interval, which divides the industries into four categories, namely "encouraged", "permitted", "restricted" and "prohibited". If the invested industry falls within the categories of "encouraged" or "permitted", it will be comparatively easier for foreign investor to obtain approval for investment, and in case the investment within the "encouraged" or "permitted" categories is to be made by an existing foreign invested enterprise, even no approval is required.
Some examples of adjustments made by the newly published catalogue include:
- financial leasing companies and medical treatment organizations have been moved from the "restricted" to the "permitted" category;
- villa construction and operation has been moved from the "restricted" to the "prohibited" category;
- production of key spare parts and components for new energy vehicles, construction and operation of motor-vehicle charging stations, venture capital investment, industrial property service, etc. have been added to the "encouraged" category.
Since the Catalogue for Guidance of Foreign Investment Industries has been renewed, we expect that another important catalogue, namely "Catalogue of Priority Industries for Foreign Investment in the Central-Western Region" would be renewed soon.
According to the Chinese laws, if the industry of a foreign investment enterprise falls within the "encouraged" category of the "Catalogue for Guidance of Foreign Investment Industries", or falls within the "Catalogue of Priority Industries for Foreign Investment in the Central-Western Region", then in principle such enterprise may within its total investment import self-used equipment free of import duty .


Any legal information contained in this newsletter is general in nature and laws and regulations are changing from time to time and compliance will always depend upon the particular circumstances. We have not attempted to give exhaustive descriptions of law or to give a legal opinion on specific legal issues. You should not rely on this newsletter as a legal advice for any particular purpose.



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