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ARTICLE · 28 JULY 2005

China Law Bulletin - July 2005

Morrison Foerster
Morrison Foerster
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In this issue: Foreign Direct Investment; Foreign Exchange Administration; Intellectual Property Rights; Labor Law; Retailing/Distribution; Securities; State-owned Enterprises; Draft Legislation

ChinaGovernment, Public Sector
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Foreign Direct Investment

Ministry of Commerce promulgates the Measures for Administration of Foreign Investment in the Leasing Industry

The Measures for Administration of Foreign Investment in the Leasing Industry (the "Leasing Measures") were promulgated on February 3, 2005 by the Ministry of Commerce ("MOFCOM"), and took effect on March 5, 2005.

The Leasing Measures replace prior regulations governing foreign investment in the leasing industry issued in 2001 and liberalize foreign investment in the sector in compliance with China’s commitments associated with its accession to the World Trade Organization ("WTO").

Under the prior regulations, a foreign investor was permitted to hold no greater than an 80% interest in a foreign-invested leasing enterprise. The Leasing Measures permit wholly foreign-owned enterprises ("WFOEs") to be established to undertake leasing business.

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