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Management Measure To Foreign Investors In Leasing Business
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The Ministry of Commerce, Issue no. 5, 2005 Recently, the Ministry of Commerce has announced " Management Measure To Foreign Investors In Leasing Business" with effective from 5 March, 2005. The measure regulated the mode, approval procedures, business rules as well as its control of foreign investments in leasing business. The main contents are as follows: 1. Foreign investment enterprises are allowed to set up the Wholly Foreign Owned Enterprises in leasing business and financing business. 2. The minimum total asset requirement of foreign investor for foreign-invested leasing companies and foreign-invested financing companies are lowered to five million US dollars. The minimum registered capital for foreign-invested financing companies are lowered to 10 million US dollars. The minimum registered capital for foreign-invested leasing companies are adjusted from five million US dollars to no special limitation. 3. Financing companies
should submit their last year's business operation reports and audited
reports to the Ministry of Commerce before 31 March every year.
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