Speech: Legal Framework for Investing in China in Shipping Related Industry

文章摘要 本文以演讲稿为基础,概述中国航运相关产业外商投资法律框架。内容包括外资基本法律与指导目录,股权合资、契约合作、外商独资、外商投资股份公司、控股公司、研发中心和代表处等形式及利弊,设立审批中的项目建议书、可行性研究报告、合同章程、批准证书和营业执照。文章还介绍企业所得税、个人所得税、增值税和营业税,并梳理国际海运、海运辅助、综合运输仓储、仓储、货运代理和港口等领域的外资准入、股比限制与入世承诺。

This is a speech made at  "Ports & Liners China 2002"

Ports & Liners China 2002, an international symposium held by Singapore IBC Group in Hillton Hotel, Shanghai. With the attendance of leading enterprises' representatives all over the world.

Abstract:

This speech will give you some general idea about the legal framework for investing in China. It covers five parts: the first part is about the general legal environment in China and the basic laws and regulations you must know before you invest in China; the second part will tell you what form can you choose when you invest in China and the advantages and the disadvantages of the forms; the third part focuses on how to establish the foreign investment enterprises; the fourth part introduces the fax for the foreign investment enterprises: corporation income tax, value-added tax and business tax; the fifth part focuses on the particular provisions on shipping related industries, it includes: general policy of China government on foreign investment in shipping related industries, special provisions and Chinaˇs commitment to accession to WTO for the international maritime transport services, auxiliary service, international integrated transport & storage, storage and warehousing services, freight forwarding agency services and ports.

冝 Basic laws and regulations
冝 Forms of foreign investment
冝 Establishment of foreign investment enterprises
冝 Tax for foreign investment company
冝 Particular provisions on shipping related industries

Basic Laws and Regulations
冝 Basic law environment
冝 Guidance of foreign investment
冝 The law on Sino-foreign equity joint venture and its detailed rules and regulations
冝 The law on Sino-foreign cooperative enterprises and its detailed rules and regulations
冝 The law on enterprises operated wholly with foreign capitals and its detailed rules
冝 Income tax law for enterprises with foreign investment and foreign enterprises and its detailed rules and regulations
冝 Other related laws and regulations

Guidance of Foreign Investment
冝 Guidance of foreign investment orientation regulation
冝 Catalogue for the guidance of foreign investment industries
Encouraged industries
Permitted industries
Restricted industries
Prohibited industries

Forms of Foreign Investment
冝 Equity joint venture
冝 Contractual joint venture
冝 Wholly foreign owned enterprises
冝 Sino-foreign joint stock company
冝 Holding company
冝 R&D center
冝 Representative office

Equity Joint Venture(EJV)
冝 Limited liability company
冝 Legal person in China
冝 With both Chinese and foreign investors
冝 Foreign investor(s) hold(s) at least 25% shares
冝 Profit and losses shared according to investorˇs relative share of the registered capital

Contractual Joint Venture (CJV)
冝 Limited liability company or partnership without legal person status
冝 With both Chinese and foreign investors
冝 Contribute capital, distribute income or product and bear risks according to contractual arrangement
冝 Chinese investors generally get fixed benefit
冝 Can be managed by one party(usually foreigner)

Wholly Foreign Owned Enterprises (WFOE)
冝 Limited liability company without Chinese partner
冝 Straightforward management structure
冝 Better intellectual property protection
冝 Easier to terminate
冝 Lack of local support

Representative Office
冝 Non-direct-operational institution
冝 Representing its enterprise
冝 Engage in liaison services, marketing survey, product introduction and technical exchange for its enterprise

How to Get Approval
冝 Project of proposal
冝 Feasibility study report, contract (only for EJVs and CJVs) and articles of association
冝 Certificate of approval
冝 Business license

Who Can Help You
冝 Chinese partner
劔 For EJVs and CJVs, the Chinese partners can help you to prepare and submit the documents and get approval.
冝 Agency
劔 For WFOEs, you have to entrust an agency to help you go through all the procedures till you get the business license.
劔 For EJVs and CJVs, you also can entrust an agency to do it for you.

Corporation Income Tax
冝 Generally:30%+3%(local)
冝 Enterprises registered in special economic zone and manufacturing enterprises registered in state level economic development zone can be levied to 15%.
冝 Enterprises in the industry of resource, transportation, port and wharf and registered in above-mentioned areas can be reduced to 15%.

Tax Holiday
冝 Manufacturing enterprises scheduled to operate for a period over 10 years can be exempted from income tax in the first 2 years from the profit-making year and be granted a 50% reduction in the next 3 years.
冝 High-tech FIE scheduled to operate for a period over 10 years can be exempted from income tax in the first  2 years from the profit-making year and be granted a 50% reduction in the next 6 years.
冝 FIE whose annual export sales value amounts to more than 70% of their annual sales value, can pay the income tax with 50% reduction at that year.

Personal Income Tax

Turnover Tax
冝 Value-added tax (VAT)
generally:17%
冝 Business tax
劔 For transport enterprises: 3%
劔 For storage and other service: 5%

Particular Provisions on
Shipping Related Industry
冝 General policy on foreign investment
冝 International maritime transport services
冝 Auxiliary service
冝 International integrated transport & storage
冝 Storage and warehousing services
冝 Freight forwarding agency services
冝 Ports

General Policy on Foreign
Investment (Encouraged)
冝 Under the encouraged list:
劔 Public wharf construction and operation
劔 Wharf equipments designing and manufacturing
劔 Ferry facility construction and operation (JV)
劔 International maritime transport services (subject to WTO commitment)
劔 International container integrated transport (subject to WTO commitment)
劔 Storage facility construction and operation

General Policy on Foreign Investment (Restricted)
冝 Under the restricted list:
劔 Container manufacturing
劔 Maritime cargo-handling services
劔 Freight forwarding agencies services
劔 Maritime agencies services

International Maritime Transport Services (Freight & Passengers)
冝 Establishment of registered companies for the purpose of operating a fleet under the national flag of P.R.C:
冝 Permitted to establish JV shipping companies;
冝 Foreign investment shall not exceed 49% of the total registered capital of the JV;
冝 The chairman of directors and the general manager of the JV shall be appointed by Chinese side

Auxiliary Service
冝 Maritime cargo-handling services, customs clearance services for maritime transport, container station and depot services:
劔 Only in the form of joint venture
劔 Foreign majority ownership is permitted.
冝 Maritime agencies services
劔 Only in form of joint venture
劔 Foreign equity share no more than 49%
劔 The chairman of directors and the general manager of the JV shall be appointed by Chinese side

International Integrated
Transport & Storage
冝 Encouraged but subject to WTO commitments:
劔 Foreign equity share no more than 50 per cent
劔 No later than 11/12/2002, foreign majority ownership will be permitted
劔 No later than 11/12/2005, wholly foreign ownership will be permitted

Storage and Warehousing Services
冝 Construction and operation of storage related to transport are encouraged
冝 Upon accession to WTO, only in the form of joint venture, with foreign investment not to exceed 49 per cent.
冝 Within one year after Chinaˇs accession, foreign majority will be permitted
冝 Within three years after Chinaˇs accession, wholly foreign-owned subsidiaries will be permitted

Freight Forwarding
Agency Services
冝 Upon accession, foreign freight forwarding agencies which have at least three consecutive years experience are permitted to set up JV, with foreign equity share not to exceed 50 per cent; Within one year after chinaˇs accession, foreign majority ownership will be permitted; Within four years after chinaˇs accession, wholly foreign-owned subsidiaries will be permitted.
冝 The minimum registered capital of the JV shall no less than US$1million. Within four years after accession, national treatment will be accorded.
冝 Operation term of  the JV shall not exceed 20 years.

Freight Forwarding
Agency Services (2)
冝 After one year operating in china, the JVs can set up branches when the registered capital of the both sides has been provided. Another US$120,000 shall be added to the original registered capital of the JV for the set-up of each branch. Within two years after chinaˇs accession, this additional registered capital requirement will be implemented on the basis of national treatment.
冝 A foreign freight forwarding agency may set up a second JV after its first JV has been in operation for five years. Within two years after Chinaˇs accession to the WTO, this requirement will be reduced to two years.

Ports
冝 Construction and operation of ports is encouraged.
冝 The operation term can be longer than 30 years
冝 Scope of business can be expanded into related business under approval, if the amount of the investment is large and profit returns are long
冝 Income tax rate is 15%, if operation term is over 15 years can be exempted from income tax in the first 5 years from the profit-making year and be granted a 50% reduction in the next 5 years.
冝 Reinvestment in wharf, 40% of the income tax paid can be refunded

Thank You
Good luck in China!
Contact me if you need any help:
Chambers Yang
Attorney-at-law/Partner
Haworth & Lexon
Suite 606 CIMIC Tower, 1090 Century Avenue, Pudong, Shanghai 200120, P.R. China
Tel: 0086-21-68767750   Fax: 0086-21-68767740
E-mail: chambers@HLlawyers.com
Http://www.HLlawyers.com

杨春宝一级律师简介

杨春宝一级律师,大成上海高级合伙人、资本市场部主任、国资基金研究中心主任,大成中国区私募基金专业带头人、科技与文化法律研究中心联合牵头人。执业30余年,长期从事私募基金、投融资、并购重组法律服务,尤其对对赌研究颇深且具有非常丰富的实战经验,并专注于金融机构股权投资业务。2004年起多次入选The Legal 500"私募基金"和"公司与商业"等境内外各类律师榜单,代理的中国法院首例适用外国法律审理外国公司的董事损害小股东权益纠纷案入选上海高院发布的《上海法院域外法查明典型案例》和威科先行"要案头条"。入选上海涉外法律人才库、上海市司法局鼎新法治人才库、上海国有企业改制法律顾问团,具有上市公司独立董事任职资格,系多家知名高校的兼职教授或兼职研究生导师及上海市商务委跨国经营人才培训班讲师。出版《私募股权投资基金风险防控操作实务》等16本投融资法律专著。了解更多

常见法律问题

航运业外商投资可选哪些企业形式?

①法律概念与规则解释:在中国外商投资法律框架下,外国投资者可选择不同企业组织形式,核心区别在于是否具有中国法人资格、合作双方权利义务如何确定、是否引入中方合作者以及管理控制权如何分配。股权合资企业通常为有限责任公司,具有中国法人资格,中外双方按注册资本比例分享利润和分担亏损;契约合作企业可为法人型或非法人型,双方按合同约定出资、收益分配和风险承担;外商独资企业则没有中方合作者,管理结构直接,知识产权保护较便利且终止相对容易,但可能缺少本地支持。代表处属于非直接经营机构,只能从事联络、市场调研、产品介绍和技术交流等辅助活动。n②案件事实与实务场景引用:该演讲稿列举了股权合资、契约合作、外商独资、中外合资股份公司、控股公司、研发中心和代表处等形式。其中股权合资要求外国投资者一般持有不低于百分之二十五的注册资本份额,并按注册资本比例分享盈亏;契约合作可由一方管理,通常由外方管理,中方常取得固定收益;外商独资为无中方合伙人的有限责任公司;代表处不得直接经营。文章还提到设立审批需项目建议书、可行性研究报告、合同和章程、批准证书和营业执照,合资合作可由中方伙伴协助,外商独资通常需委托代理机构办理。n③实务指引与风险提示:选择形式时应结合航运业务准入政策判断,例如国际海运、海运辅助、仓储和货运代理等领域存在合资要求、股比上限或中方高管任命要求。若采用股权合资,应重点谈判注册资本、出资节奏、利润分配、董事会席位和僵局解决;若采用契约合作,应把固定收益、管理权、风险承担和退出机制写清楚,避免合作期满或亏损时争议。外商独资虽管理直接,但在受限制领域无法适用,且可能面临本地网络不足。代表处不能创收或直接经营,若误用可能被认定超范围经营。设立前应核对指导目录和入世承诺,确认审批路径、最低资本和运营范围。

外资进入港口和海运辅助业有什么限制?

①法律概念与规则解释:港口和海运辅助服务属于航运相关产业外商投资的重要领域。法律规则通常通过鼓励、限制和禁止目录以及入世承诺来安排外资准入,核心限制工具包括企业形式要求、外资股比上限、中方控股要求和关键管理人员任命要求。鼓励类项目通常允许外资参与港口公共码头建设经营、码头设备设计制造、与运输相关的仓储设施建设经营等;限制类项目则可能涉及集装箱制造、海上货物装卸、货运代理和海运代理等,需要满足合资形式或股比限制。国际海运服务还涉及悬挂中国国旗船队运营、合资航运公司中外资比例和董事长、总经理任命等特别规则。n②案件事实与实务场景引用:演讲稿指出,公共码头建设经营、码头设备设计制造、渡轮设施建设经营、国际海运、国际集装箱综合运输和仓储设施建设经营等属于鼓励类,其中部分受入世承诺约束。限制类包括集装箱制造、海上货物装卸、货运代理和海运代理。国际海运方面,允许设立合资航运公司,但外资不得超过注册资本的百分之四十九,董事长和总经理由中方任命。海运辅助服务中,海上货物装卸、海运报关、集装箱堆场和仓储服务仅允许合资且外资可多数持股;海运代理服务仅允许合资,外资不超过百分之四十九,董事长和总经理由中方任命。国际综合运输仓储在入世时外资不超过百分之五十,并设有时限放开多数持股和独资。n③实务指引与风险提示:投资者应先区分项目属于鼓励类还是限制类,再判断是否允许独资、外资能否控股以及是否必须由中方任命董事长或总经理。对于港口码头和仓储项目,应把中外双方出资比例、董事会组成、管理权分配和收益分配写入合同与章程,并与指导目录和入世承诺保持一致,避免审批阶段因形式或股比不符而受阻。对于海运代理和海上运输,外资比例和管理权安排是谈判核心,若章程或合资合同约定与准入政策冲突,可能导致审批受阻或后续变更困难。入世承诺中的时间表具有阶段性,演讲稿中的具体日期需结合现行有效规定重新核验,不能直接把历史承诺当作当前规则。还应关注合资一方管理、中方固定收益、外商独资缺乏本地支持等文章列明的利弊,提前设计决策僵局、退出和违约责任安排。

外商投资航运企业设立审批和税务安排要点?

①法律概念与规则解释:外商投资企业设立通常需要经过项目建议、可行性研究、合同与章程审批、领取批准证书和办理营业执照等程序。审批关注投资方向是否符合外商投资指导目录、企业形式是否满足航运领域准入要求、注册资本和出资安排是否合法、经营范围是否清晰以及治理结构是否可行。税务方面,外商投资企业涉及企业所得税、个人所得税、增值税和营业税等。企业所得税存在一般税率与区域优惠、行业优惠和经营期限优惠;增值税覆盖货物和部分服务,营业税则主要针对运输、仓储和其他服务,税率因行业不同而异。税收优惠通常与注册区域、行业性质、经营期限、盈利年度和出口比例等条件挂钩。n②案件事实与实务场景引用:演讲稿介绍,设立审批文件包括项目建议书、可行性研究报告、合同仅适用于股权合资和契约合作以及公司章程,之后取得批准证书和营业执照。股权合资和契约合作可由中方伙伴协助准备和提交文件,外商独资企业通常需要委托代理机构办理全部手续。企业所得税一般税率为百分之三十加百分之三地方税;设在经济特区以及国家级经济技术开发区的生产型企业可适用百分之十五;资源、交通、港口码头等行业且注册在上述区域的企业也可减按百分之十五。生产型企业约定经营十年以上,从获利年度起前两年免征、后三年减半;高新技术企业前两年免征、后六年减半;年出口额占年销售额百分之七十以上的企业当年可减半。增值税一般税率为百分之十七,运输企业营业税为百分之三,仓储和其他服务为百分之五。n③实务指引与风险提示:实务中应把审批路径和税务优惠作为投资可行性测算的核心变量。若选择合资或合作,应尽早确定中方伙伴能否协助审批,并在合同中明确审批未通过时的费用承担、出资返还和退出安排;若选择外商独资,应聘请有航运审批经验的代理机构,防止经营范围、资本金和审批文件不符合要求。税务上不能仅看名义税率,要核实区域优惠、行业优惠、经营期限和获利年度起算规则,并保存区域登记、高新技术资格和出口比例等证明。对于运输、仓储和货运代理,应区分增值税与营业税适用范围,避免错误申报。演讲稿中的税率和优惠属于当时制度,当前适用前必须核对最新税收规则。

以上内容仅供参考,不构成法律意见。如需专业法律服务,请联系杨春宝一级律师:chambers.yang@dentons.cn

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