New Rules about Foreign Investor Invest in Non-Performing Assets

Ministry of Commerce Office
Xian Ji Ji [2005] No. 37
29 April 2005

1. Foreign enterprise should obtain approval from the Ministry of Commerce if she is planning to carry out business regarding non-performing assets such as debt restructuring and credits collection. The provincial level authorities in charge of commercial affairs authorized by the Ministry of Commerce and the state-level economic and technological development zone are not allowed to approve the setup for the abovementioned enterprise.

2. The provincial level authorities in charge of commercial affairs authorized by the Ministry of Commerce and the state-level economic and technological development zone are not allowed to approve the setup of Credit Collection Company or the like kind.

3. Bureau will request enterprise to provide a written confirmation to certify that the company will not carry out business regarding non-performing assets such as debt restructuring and credits collection when examining the incorporation application of foreign enterprises who are planning to do the following businesses: business agent, management consultancy, finance advisory and asset portfolio consultancy services.

商務部 辦公廳
商資字[2005]37號
2005年4月29日

一、從事債務重組、債權追償等不良資產處置活動的外商投資企業的設立，均應報請國家商務部批准，各級地方商務主管部門和國家級經濟技術開發區不得擅自批准企業設立。

二、各級地方商務主管部門和國家級經濟技術開發區不得批准設立外商投資討債公司和變相討債公司。

三、各單位在審批經濟委託、商務代理、管理諮詢、財務諮詢、資產諮詢類外商投資企業時，應要求企業做出不得從事債務重組、債權追償等不良資產處置經營活動的書面承諾。