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Rule and regulations regarding financial administration |
1
Financial registration
A foreign-invested enterprise should, within 30 days after
receiving the business license, go through the procedure
of financial registration at the relevant financial body
of the place of its registration. When registering, the
enterprise needs to fill in the Financial Registration Card
for Foreign-Invested Enterprises, and submit the following
documents (or transcripts or copies):
A Certificate of approval;
b A duplicated copy of the business license;
c The enterprise’ feasibility studies report, contract
and articles of association’
d Official remarks on the enterprise`s contract and
articles of association and the organization of its board
of directors;
e Certification for the Chinese party issued by the organ
of authority in charge of it.
f Other documents deemed as necessary for submission.
The financial body responsible should grant the applicant
the original and transcript of the financial registration
card for the foreign-invested enterprise. If the enterprise
makes changes to the contract or changes the name, address,
legal representative, and/or business scope, it should,
within 30 days after going through the procedures for registration
of alteration, go through the procedure of alteration for
financial ad before it applies to cancel registration at
the relevant administration for industry and commerce, the
enterprise should go through the procedure for cancellation
of financial registration.
2 Procedures for transfer of property
In accordance with therules of the Ministry of Finance,
the parties to a foreign-unvested enterprise shall have
to go through the procedure at the local finance bureau
for transfer of property if the aforesaid party makes investment
in kind of with intangible assets. The aforesaid party shall
fill in the Form of Application by the Chinese Party for
Transfer of Property and submit the following documents
for verification:
a The assessment report issued by a competent registered
accountant`s agency;
b Report of verification issued by the competent authorities
of state asses managemetnt;
c The inventory of the enterprise`s assets;
d Duplicated of the enterprise`s contract and articles
of association.
3 Annual financial inspection and supervision
Foreign-invested enterprises should go through the annual
financial inspection before April 30 every year. Such inspection
covers financial registration or alteration of registration
made by the enterprises in the preceding year and their
financial and accounting activities, including how they
have acted in observing the financial legislation.
A foreign-invested enterprise shall supply the following
documents to go through the procedures for annual financial
inspection:
a A duplicated copy of the financial registration certificate;
b The enterprise`s annual financial report;
c The enterprise`s annual balance sheet along with
an explanatory report of its financial status. Inaddition
to the annual financial inspection, the financial authorities
shall select some enterprises for special or full inspection
mid-year covering areas such as the establishment and implementation
of financial and accounting systems, turnover of financial
revenue, the submission of accounting report forms and the
implementation of the financial legislation.
4 Beijing Finance Bureau, For more information,
please check into website:
www.bjczwjm.gov.cn
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