Investment in Yantai Critical Eye on Investment in Yantai
Summary of
Foreign Trade in Yantai
Summary of Recent
Foreign Investment in Yantai
Summary of Recent
Yantai Investment Overseas
Government Organisations Dealing with Foreign Investment
Investment Flow Diagram
Documents Required for Foreign Investment
(a) Sino-Foreign Equity/Contractual Joint Venture
(b)
Wholly-Owned Foreign Enterprises Summary of
Foreign Trade in Yantai Yantai has established trading relationship with more than 180 countries around the world. Korea, Japan and USA are the main trading partners. In 2005, the total import and export volume reached USD11.48 billion, of which the export volume reached USD6.48 billion and the import volume was USD5 billion. Summary of Recent Foreign Investment in Yantai According to the bureau of statistics, in 2005 there were foreign investments from more than 70 countries in Yantai. The total number of foreign investment projects is 10,122, with a contractual foreign investments of USD 26.75 billion and an actual foreign investments of USD11.68 billion, in which, the number of Equity Joint Ventures, Wholly Foreign-Funded Enterprises and Contractual Joint Ventures is 9,064, with a contractual foreign investment of USD22.7 billion and an actual foreign investment of USD10.7 billion. At present, there are more than 70 global top-500 companies and multinational companies investing in Yantai, including Honda, Denso and Idemitsu from Japan; GM, CSX World Terminal and Timken from Taiwan; China Resources, Bank of China and New World from Hong Kong; FHTK and Sembawang from Singapore; and Continental Cement from Philippine. Summary of Recent Yantai Investment Overseas In 2005, the value of newly signed building contracts and labour export contracts between Yantai and foreign countries was USD200 million, the actual contract value is USD168 million; 16 companies were approved to set up abroad, with total investments of USD15.59 million . By now, there are 50 companies from Yantai engaged in the business of processing and trade, natural resources development and contracted projects overseas.
Yantai Development Planning Commission (Yantaishi Guihua Ju)
12 Fuhou Lu, Lai Shan District Yantai Investment Development Board ((Yantai Touzi Cujin Jv)
Add: 71 Jianshe Lu Yantai Foreign Trade and Economic Cooperation Bureau
Add: No.71 Jianshe Road, Yantai Shandong Province P.R China Yantai Investment Development Board
Add: No.71 Jianshe Road, Yantai Shandong Province P.R China Investment Flow Diagram
1. Approval of Letter of Intent for equity and/or contractual joint venture (except wholly foreign-funded enterprise), Project Proposal and Feasability Study
2. Approval of the Contract and Articles of Association by Foreign Trade Economic Cooperation Bureau and relevant departments
3. Preverification and registration of company name at Industrial & Commercial Administration
4. Organisation code registration at Technology supervision Bureau
5. Issue PRC foreign-funded enterprise approval certification
6. Appraisal of Environment Impact by Environment Protection Bureau
7. Industrial and Commercial Administration issues Business License
8. Organise Registration at technology Supervision Bureau
9. Tax Registration at State & Local Taxation Bureau
10. Customs Registration at Customs Office
11. Foreign Exchange Registration at People's Bank of China Documents Required for Foreign Investment(a)
Sino-Foreign Equity/Contractual Joint Venture Documents to be submitted1. Application for setting up enterprises
2. Project proposal
3. Letter of Intent (Equity and Contractual JV) and feasibility study report
4. Environment Impact Approval
5. Equity (Contractual) JV contracts, articles of association
6. List of Board of Directors and assignment letter of directors
7. Approval letter of company name
8. List of production equipment
9. House leasing contract or land use contract
10. Other documents required by approval departments
Documents to be submitted by foreign enterprises
(All documents need to be prepared in Chinese) 1. Copy of company business license
2. Legal person registration certificate
3. Legal person registration certificate (non-legal person: individual seal certificate)
4. Credit certificate issued by the bank
5. Legal representative notarized signature (b) Wholly-Owned Foreign Enterprises Documents to be submitted 1. Application for setting up enterprises
2. Project proposal
3. Project feasibility study
4. Environment Protection Approval
5. Articles of association for foreign–funded enterprises
6. List of Board of Directors and assignment letter of directors
7. Approval letter of company name
8. List of production equipment
9. House leasing contract of land use contract
10. Other documents required by approval departmentsDocuments to be submitted by foreign enterprises
(All documents need to be prepared in Chinese) 1. Copy of company business license
2. Legal person registration certificate
3. Legal person seal original certificate (non-legal person: individual seal certificate)
4. Balance sheets in recent three years
5. Credit certificate issued by the bank
6. Legal representative notarized signature
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