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THE SUPPLEMENTARY CIRCULAR OF THE MINISTRY OF FINANCE AND THE MINISTRY OF COMMERCE ON THE SUPPORT OF THE PRIOR PERIOD EXPENSES OF OVERSEAS INVESTMENT IN RESOURCE AND FOREIGN ECONOMIC COOPERATION PROJECT IN 2004

The Ministry of Finance, the Ministry of Commerce

The Supplementary Circular of the Ministry of Finance and the Ministry of Commerce on the Support of the Prior Period Expenses of Overseas Investment in Resource and Foreign Economic Cooperation Project in 2004

Cai Qi [2005] No. 85

June 17, 2005

The financial departments (bureaus) and competent departments of commerce of all provinces, autonomous regions, cities directly under the central government and the cities specifically designated in the state plan, the Bureau of Finance and Bureau of Commerce of Xinjiang Production and Construction Corps, and all Chinese economic and commercial institutions abroad and all enterprises under the central authorities:

The Ministry of Finance and the Ministry of Commerce jointly promulgated the Circular of the Ministry of Finance and the Ministry of Commerce on the Support of the Prior Period Expenses of Overseas Investment in Resource and Foreign Economic Cooperation Project in 2004 (Cai Qi [2004] No.176, hereinafter referred to as the Circular) with a view to implementing the "going out" strategic spirit of the Sixteenth National Congress of the CPC, encouraging and supporting the enterprise with comparative advantage to conduct overseas investment in resource and to use overseas resources to develop foreign economic technologic cooperation, after deliberation, related issues are supplemented as follows in accordance with the requirements of business:

I.

The foreign economic cooperation project concerning resource as referred to in Article 1 of the Circular means the foreign contract projects conducted in overseas resource field, the foreign contract projects with the resource as means of payment or the foreign contract projects purporting to obtain the resource exploiting, developing and use right.

II.

Paragraph 5 of article 4 of the Circular stipulates that "the registration of overseas enterprise or the concluding time of contract shall be between January 1, 2004 and December 31, 2004", and in considering the real circumstances and the continuity of business, this paragraph is amended to be "the registration of overseas enterprise or the concluding time of contract shall be between January 1, 2003 and December 31, 2004"

III.

With respect to other projects concerning resource rather than the projects specially supported, the enterprise may submit application; the Ministry of Finance and the Ministry of Commerce will conduct whole consideration of the support of special projects.

IV.

The submitting time of applying material is postponed for 15 days with a view to enhancing the application of enterprise and the dissemination and preliminary examination by local authorities in charge. The enterprise shall prepare and submit materials in strict accordance with the provisions of documents and the requirements in the attachment. The subordinated enterprises to the enterprises directly under the central authority shall be examined and submitted in a unified way by the group.

V.

In order to decrease the workload in the application of the enterprise, the application request submitted jointly by all authorities at provincial level shall be delivered to the Ministry of Finance (Department of Enterprise) and the Ministry of Commerce (Department of Planning and Finance), one copy of the specific applying material may be submitted together with the application request to the Ministry of Commerce (Department of Planning and Finance).

It is thereby notified.

The attachment:

1.

The project-compiling guide

2.

The account for application of enterprise

3.

The Opinion of Chinese Economic and Commercial Counselor's Office in (location)

4.

Schedule of the fees in the preliminary stage of the overseas investment in resource and the foreign economic cooperation project

5.

The Summary of the preliminary examination of the fees at preliminary stage of the overseas investment of resource kind and the foreign economic cooperation project

Attachment 1:The Project-Compiling Guide

I.

The enterprise shall, depending on projects, bind up all submitted materials to volumes in the way as the accounting books are bound up;

II.

The material for each project shall include but not limited to the following material.

(1)

Cover, the contents of the cover include: the nature of the project (overseas investment or economic cooperation); the name of the project (the location of the project, the name of the mine, and the name of the overseas enterprise [Chinese and English]); the name of the project applying enterprise (with common seal).

(2)

The list of the materials of the project submitted.

(3)

The application report of the project. The application shall include: the basic information of the enterprise; the basic investment of the project (or contractual amount), the total prior period expenses and the amount applied for support, etc.

(4)

An account for the application of the project (see attachment 2).

(5)

The business license of the project applying enterprise.

(6)

The approval certificate of related authority for overseas investment project or for project contract and relevant certificate for passing annual examination.

(7)

The business license registered in the country where the project is located (Chinese and English).

(8)

The account material of the economic and commerce counselor's office of China in the country where the project is located.

(9)

The approval certificate of foreign exchange administrative authority for foreign exchange verification and fund remittance.

(10)

The record table of the overseas mine resource development project.

(11)

The audited report of the applying enterprise of 2003 and 2004.

(12)

The project feasibility study report (Chinese).

(13)

The investment (economic cooperation project) contract (only provide the Chinese and English version of the relevant part concerning the prior period expenses).

(14)

The schedule of the prior period expenses (see attachment 4).

(15)

The prior period expenses proof of the project, including, payment voucher, accounting voucher, fees payment contract, the payment voucher with a single fee exceeding 100,000RMB shall add common seal on the copies thereof.

III.

The materials submitted by the provincial authorities (including the enterprise under central authority, the same below) shall include the following contents:

(1)

The application report of preliminary fees jointly submitted to the Ministry of Finance and the Ministry of Commerce.

(2)

The Summary of the prior period expenses of the overseas investment in resource and the foreign economic cooperation project (see attachment 5)

(3)

The materials of the project applying enterprise that has been bound up to volumes.

htm/e04110.htmAttachment 2

 

Attachment 2:

The Account for the Application of Enterprise

 

Name of the applying enterprise

 

 

 

Name of the legal representative

 

the registration place of enterprise

Province city

Address

 

Post code

 

The applicant declares earnestly that:

1. This time the applicant applies for the support of the prior period expenses of     project, all materials    pages submitted;

2. The applicant has been legally registered and has independent legal person status and operated legally;

3. All documents, bills and vouchers and materials submitted by the applicant are accurate, real, complete and valid;

4. All duplicate materials and copies are verified and in complete consistent to the reserved and original;

5. The applicant undertakes to accept necessary check and examination by relevant authorities for the examination of this application.

The legal representative of the applying enterprise or the authorizer: (signature)

Seal of the applying enterprise:

Date:  mm-dd-yy

Bank account No.

 

Bank account No.

 

Name of deposit bank

 

Address of deposit bank

 

Linkman 

 

Telephone

 

E-mail

 

Mobile phone

 

Fax

 

 

 

  Note: 1. The signature column of legal representative or the authorizer of the applying enterprise shall be singed by hand, name stamp is invalid;

  2. Where singed by the authorizer, the original copy of power of attorney signed by the legal representative and sealed with the common seal of the company shall be submitted;

  3. The information of the bank account shall be the account of the company and for prior period fund. Please fill in it correctly.

 

Attachment 3:

The Opinion of Chinese Economic and Commercial Counselor's Office in (location)

 

 Name of project

 

City where the project situates

 

The sum of the investment (contract)

(USD)

Registration (start working) date

 

Expected launch (complete) date

 

The progress of the project

 

Other opinion (may add additional pages)

(including but not limited to following aspects: the expected benefit of the project; the export of goods and labor from our country brought about by the project; information concerning the implementation of the resource development)

Consellor: (signature) Seal of Economic and Commercial Counselor's Office:

Date: mm-dd-yy

Linkman of the Office:

Telephone:         fax:        E-mail:

 

Attachment 4

Schedule of the Prior Period Expenses of the Overseas Investment in Resource and the Foreign Economic Cooperation Project

 

The name of the applying enterprise

(common seal)

Name of the borrower enterprise

(common seal)

The sum of the investment (contract)

 

Registration (contract concluding) date

 

Project proposal (start working)date

 

Expected complete date

 

 

Sum

The index of the copy of the payment voucher

Remark

The consultation fees for intermediate institution

First sum

 

 

 

 

´

 

 

 

Lawyer's fees

First sum

 

 

 

 

´

 

 

 

Fees related to the feasibility study report

First sum

 

 

 

 

´

 

 

 

The fees related to the purchase of bidding document and relevant documents

First sum

 

 

 

 

´

 

 

 

Subsidiary fees

First sum

 

 

 

 

´

 

 

 

Total of the fees at the preliminary stage

 

 

 

 

 Note: this table is only a format. If the rows of the payment are not enough, affiliated pages may be added and the affiliated pages shall also be sealed with the common seal of the company.

 

Attachment 5

The Summary of the Preliminary Examination of the Prior Period Expenses of the Overseas Investment in Resource and the Foreign Economic Cooperation Project

 

SN

Name of the applying enterprise

Name of the overseas enterprise

Name of the project

Type of the enterprise

The sum of the investment (contract)

The prior period expenses submitted

The sum applied for support

remark

1

 

 

 

 

 

 

 

 

2

 

 

 

 

 

 

 

 

3

 

 

 

 

 

 

 

 

The authority at provincial level in charge of commerce and the all enterprises under the central authorities

Opinions:

Signature of the director: (common seal)

The opinion of the authority at provincial level in charge of finance:

 

Signature of the director: (common seal)

  Guide to fill in the table

  Note 1: This table may be duplicated.

  Note 2: Type of project means: (1) overseas investment; (2) foreign economic cooperation

  Note 3: The sum applied for support is the minimum number as calculated according to the item 3 of article 8 of the Measures, and an explanation shall be given in the remark.


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