關(guān)于外國投資者并購境內(nèi)企業(yè)的規(guī)定(2009年版)(中英文對照版)

關(guān)于修改關(guān)于外國投資者并購境內(nèi)企業(yè)的規(guī)定的決定商務(wù)部令2009年第6號為保證關(guān)于外國投資者并購境內(nèi)企業(yè)的規(guī)定與反壟斷法和國務(wù)院關(guān)于經(jīng)營者集中申報(bào)標(biāo)準(zhǔn)的規(guī)定相一致，對關(guān)于外國投資者并購境內(nèi)企業(yè)的規(guī)定作如下修改一、刪除第五章“反壟斷審查”，在“附則”中新增一條作為第五十一條，表述為“依據(jù)反壟PROVISIONSONMERGERANDACQUISITIONOFDOMESTICENTERPRISESBYFOREIGNINVESTORSMINISTRYOFCOMMERCEORDERNO2009622JUNE2009FORTHEPURPOSEOFENSURINGTHECONSISTENCYBETWEENTHEPROVISIONSONMERGERANDACQUISITIONOFDOMESTICENTERPRISESBYFOREIGNINVESTORSANDTHEANTIMONOPOLYLAWANDTHEPROVISIONSOFSTATECOUNCILONDECLARATIONTHRESHOLDFORCONCENTRATIONOFBUSINESSOPERATORS,THEPROVISIONSONMERGERANDACQUISITIONOFDOMESTICENTERPRISESBYFOREIGNINVESTORSISAMENDEDASFOLLOWS1CHAPTER5“ANTIMONOPOLYEXAMINATION”SHALLBEDELETED,ANADDITIONALARTICLESHALLBEADDEDASARTICLE51INTHE“SUPPLEMENTARYPROVISIONS”TOREADAS“PURSUANTTO斷法的規(guī)定，外國投資者并購境內(nèi)企業(yè)達(dá)到國務(wù)院關(guān)于經(jīng)營者集中申報(bào)標(biāo)準(zhǔn)的規(guī)定規(guī)定的申報(bào)標(biāo)準(zhǔn)的，應(yīng)當(dāng)事先向商務(wù)部申報(bào)，未申報(bào)不得實(shí)施交易。”此后條文、章節(jié)順序依次調(diào)整。二、對以下條款作文字修改（一）將第十六條第四款中“外國投資者并購境內(nèi)企業(yè)設(shè)立外商投資企業(yè)，如果外國投資者出資比例低于企業(yè)注冊資本25的，投資者以現(xiàn)金出資的，”修改為THEPROVISIONSOFTHEANTIMONOPOLYLAW,WHERETHEMERGERANDACQUISITIONOFADOMESTICENTERPRISEBYAFOREIGNINVESTORATTAINSTHEDECLARATIONSTANDARDSTIPULATEDINTHEPROVISIONSOFSTATECOUNCILONDECLARATIONTHRESHOLDFORCONCENTRATIONOFBUSINESSOPERATORS,ADECLARATIONSHALLBEMADEINADVANCEWITHTHEMINISTRYOFCOMMERCENOTRADINGSHALLBEMADEIFTHEDECLARATIONISNOTMADE”THENUMBERINGOFARTICLESANDCHAPTERSFOLLOWINGTHISARTICLESHALLBEADJUSTEDACCORDINGLY2THEFOLLOWINGAMENDMENTSSHALLBEMADE1THESENTENCE“INTHECASEOFMERGERANDACQUISITIONOFA“外國投資者并購境內(nèi)企業(yè)設(shè)立外商投資企業(yè)，如果外國投資者出資比例低于企業(yè)注冊資本25，投資者以現(xiàn)金出資的”。（二）將第三十六條第一款“自營業(yè)執(zhí)照頒發(fā)之日起6個(gè)月內(nèi)，如果境內(nèi)外公司沒有完成其股權(quán)變更手續(xù)，則加注的批準(zhǔn)證書和中國企業(yè)境外投資批準(zhǔn)證書自動失效，登記管理機(jī)關(guān)根據(jù)境內(nèi)公司預(yù)先提交的股權(quán)變更登記申請文件核準(zhǔn)變更登記，使境內(nèi)公司股權(quán)結(jié)構(gòu)恢復(fù)到股權(quán)并購之DOMESTICENTERPRISEBYAFOREIGNINVESTORFORINCORPORATIONOFAFOREIGNINVESTMENTENTERPRISE,WHEREASTHECAPITALCONTRIBUTIONOFTHEFOREIGNINVESTORISLESSTHAN25OFTHEREGISTEREDCAPITALOFTHEENTERPRISE,ANDTHEINVESTORMAKESCAPITALCONTRIBUTIONINCASH”INTHEFOURTHPARAGRAPHOFARTICLE16SHALLBEAMENDEDTOREADAS“INTHECASEOFMERGERANDACQUISITIONOFADOMESTICENTERPRISEBYAFOREIGNINVESTORFORINCORPORATIONOFAFOREIGNINVESTMENTENTERPRISE,WHERETHECAPITALCONTRIBUTIONOFTHEFOREIGNINVESTORISLESSTHAN25OFTHEREGISTEREDCAPITALOFTHEENTERPRISEANDTHEINVESTORMAKESCAPITALCONTRIBUTIONINCASH”2THESENTENCE“WHERETHE前的狀態(tài)”，修改為“自營業(yè)執(zhí)照頒發(fā)之日起6個(gè)月內(nèi)，如果境內(nèi)外公司沒有完成其股權(quán)變更手續(xù)，則加注的批準(zhǔn)證書和中國企業(yè)境外投資批準(zhǔn)證書自動失效。登記管理機(jī)關(guān)根據(jù)境內(nèi)公司預(yù)先提交的股權(quán)變更登記申請文件核準(zhǔn)變更登記，使境內(nèi)公司股權(quán)結(jié)構(gòu)恢復(fù)到股權(quán)并購之前的狀態(tài)?！保ㄈ⒌谒氖l第一款第（一）項(xiàng)和第四十四條第一款第（三）項(xiàng)中的“最終控制人”修改為“實(shí)際控制人”。DOMESTICCOMPANYANDTHEOVERSEASCOMPANYDONOTCOMPLETEEQUITYCHANGEFORMALITIESWITHINSIXMONTHSFROMTHEDATEOFISSUANCEOFBUSINESSLICENCE,THEANNOTATEDAPPROVALCERTIFICATEANDTHEAPPROVALCERTIFICATEFOROVERSEASINVESTMENTSOFCHINESEENTERPRISESHALLBECOMEVOIDAUTOMATICALLY,THEREGISTRATIONADMINISTRATIONAUTHORITIESSHALLVERIFYANDAPPROVECHANGEREGISTRATIONPURSUANTTOTHEAPPLICATIONDOCUMENTSFOREQUITYCHANGEREGISTRATIONSUBMITTEDBYTHEDOMESTICCOMPANYINADVANCETOREINSTATETHEEQUITYSTRUCTUREOFTHEDOMESTICCOMPANYTOTHESTATUSBEFOREEQUITYACQUISITION”INTHEFIRSTPARAGRAPHOFARTICLE36SHALLBEAMENDEDTOREADAS“WHERETHEDOMESTICCOMPANYANDTHEOVERSEASCOMPANYDONOT此決定自公布之日起施行。關(guān)于外國投資者并購境內(nèi)企業(yè)的規(guī)定根據(jù)本決定作相應(yīng)的修改，重新公布。附件關(guān)于外國投資者并購境內(nèi)企業(yè)的規(guī)定部長陳德銘二九年六月二十二日關(guān)于外國投資者并購境內(nèi)企業(yè)的規(guī)定COMPLETEEQUITYCHANGEFORMALITIESWITHINSIXMONTHSFROMTHEDATEOFISSUANCEOFBUSINESSLICENCE,THEANNOTATEDAPPROVALCERTIFICATEANDTHEAPPROVALCERTIFICATEFOROVERSEASINVESTMENTSOFCHINESEENTERPRISESHALLBECOMEVOIDAUTOMATICALLYTHEREGISTRATIONADMINISTRATIONAUTHORITIESSHALLVERIFYANDAPPROVECHANGEREGISTRATIONPURSUANTTOTHEAPPLICATIONDOCUMENTSFOREQUITYCHANGEREGISTRATIONSUBMITTEDBYTHEDOMESTICCOMPANYINADVANCETOREINSTATETHEEQUITYSTRUCTUREOFTHEDOMESTICCOMPANYTOTHESTATUSBEFOREEQUITYACQUISITION”3THE“ULTIMATECONTROLLINGPARTY”INITEM1OFTHEFIRSTPARAGRAPHOFARTICLE42ANDITEM3OFTHEFIRSTPARAGRAPHOFARTICLE44SHALLBEAMENDEDTOTHE“ACTUALCONTROLLINGPARTY”THISDECISIONSHALLBEEFFECTIVEFROMTHEDATEOFPROMULGATIONTHEPROVISIONSONMERGERANDACQUISITIONOFDOMESTICENTERPRISESBYFOREIGNINVESTORSSHALLBEREVISEDACCORDINGLYPURSUANTTOTHISDECISIONANDREPROMULGATEDAPPENDIXPROVISIONSONMERGERANDACQUISITIONOFDOMESTICENTERPRISESBYFOREIGNINVESTORSPROVISIONSONMERGERANDACQUISITIONOFDOMESTICENTERPRISESBYFOREIGNINVESTORSCHAPTER4MERGERANDACQUISITIONOFDOMESTICCOMPANIESBYFOREIGNINVESTORSUSINGEQUITYASAMEANSOFPAYMENTSECTION1CRITERIAFORMERGERANDACQUISITIONUSINGEQUITYASAMEANSOFPAYMENTSECTION2APPLICATIONDOCUMENTSANDPROCEDURESSECTION3SPECIALPROVISIONSONSPECIALPURPOSECOMPANIESCHAPTER5SUPPLEMENTARYPROVISIONS第一章總則CHAPTER1GENERALPRINCIPLES第一條為了促進(jìn)和規(guī)范外國投資者來華投資，引進(jìn)國外的先進(jìn)技術(shù)和管理經(jīng)驗(yàn)，提高利用外資的水平，實(shí)現(xiàn)資源的合理配置，保證就業(yè)、維護(hù)公平競爭和國家經(jīng)濟(jì)安全，依據(jù)外商投資企業(yè)的法律、行政法規(guī)及公司法和其他相關(guān)法律、行政法規(guī)，制定本規(guī)定。ARTICLE1THESEPROVISIONSAREFORMULATEDPURSUANTTOLAWSANDADMINISTRATIVEREGULATIONSONFOREIGNINVESTMENTENTERPRISES,THECOMPANYLAWANDOTHERRELEVANTLAWSANDADMINISTRATIVEREGULATIONSFORTHEPURPOSESOFPROMOTINGANDSTANDARDISINGINVESTMENTSINCHINABYFOREIGNINVESTORS,INTRODUCINGADVANCEDTECHNOLOGIESANDMANAGEMENTEXPERIENCEFROMOVERSEAS,PROMOTINGTHELEVELOFUTILISATIONOFFOREIGNFUNDS,REALISINGOPTIMUMDEPLOYMENTOFRESOURCES,ENSURINGEMPLOYMENT,ANDSAFEGUARDINGFAIRCOMPETITIONANDNATIONALANDECONOMICSECURITY第二條本規(guī)定所稱外國投資者并購境內(nèi)企業(yè)，系指外國投資者購買境內(nèi)非外商投資企業(yè)（以下稱“境內(nèi)公司”）股東的股權(quán)或認(rèn)購境內(nèi)公司增資，使該境內(nèi)公司變更設(shè)立為外商投資企業(yè)（以下稱“股權(quán)并購”）；或者，外國投資者設(shè)立外商投資企業(yè)，并通過該企業(yè)協(xié)議購買境內(nèi)企業(yè)資產(chǎn)且運(yùn)營該資產(chǎn)，或，外國投資者協(xié)議購買境內(nèi)企業(yè)資產(chǎn)，并ARTICLE2MERGERANDACQUISITIONOFDOMESTICENTERPRISESBYFOREIGNINVESTORSREFERREDTOINTHESEPROVISIONSSHALLMEANACQUISITIONOFEQUITYOFSHAREHOLDERSOFNONFOREIGNINVESTMENTENTERPRISESINCHINAHEREINAFTERREFERREDTOASTHE“DOMESTICCOMPANIES”O(jiān)RSUBSCRIPTIONTOADDITIONALCAPITALOFDOMESTICCOMPANIESBYFOREIGNINVESTORSTOCONVERTSUCHDOMESTICCOMPANIESINTOFOREIGNINVESTMENTENTERPRISESHEREINAFTERREFERREDTOASTHE“EQUITYACQUISITION”O(jiān)RINCORPORATIONOFFOREIGNINVESTMENTENTERPRISESBYFOREIGNINVESTORSTOACQUIREANDOPERATEASSETSOF以該資產(chǎn)投資設(shè)立外商投資企業(yè)運(yùn)營該資產(chǎn)（以下稱“資產(chǎn)并購”）。DOMESTICENTERPRISESBYSUCHFOREIGNINVESTMENTENTERPRISESBYAGREEMENT,ORACQUISITIONOFASSETSOFDOMESTICENTERPRISESBYFOREIGNINVESTORSBYAGREEMENTANDINVESTMENTOFSUCHASSETSTOESTABLISHFOREIGNINVESTMENTENTERPRISESFOROPERATIONOFSUCHASSETSHEREINAFTERREFERREDTOASTHE“ASSETSACQUISITION”第三條外國投資者并購境內(nèi)企業(yè)應(yīng)遵守中國的法律、行政法規(guī)和規(guī)章，遵循公平合理、等價(jià)有償、誠實(shí)信用的原則，不得造成過度集中、排除或限制競爭，不得擾亂社會經(jīng)濟(jì)秩序和損害社會公共利益，不得導(dǎo)致國有資產(chǎn)流失ARTICLE3MERGERANDACQUISITIONOFDOMESTICENTERPRISESBYFOREIGNINVESTORSSHALLCOMPLYWITHTHELAWS,ADMINISTRATIVEREGULATIONSANDRULESOFCHINA,SHALLADHERETOTHEPRINCIPLESOFFAIRNESSANDREASONABLENESS,COMPENSATIONFOREQUALVALUEANDHONESTYANDTRUSTWORTHINESS,SHALLNOTBEOVERCONCENTRATED,SHALLEXCLUDEORRESTRICTCOMPETITION,SHALLNOT。DISRUPTSOCIALANDECONOMICORDERANDHARMPUBLICINTEREST,ANDSHALLNOTCAUSELOSSOFSTATEOWNEDASSETS第四條外國投資者并購境內(nèi)企業(yè)，應(yīng)符合中國法律、行政法規(guī)和規(guī)章對投資者資格的要求及產(chǎn)業(yè)、土地、環(huán)保等政策。依照外商投資產(chǎn)業(yè)指導(dǎo)目錄不允許外國投資者獨(dú)資經(jīng)營的產(chǎn)業(yè)，并購不得導(dǎo)致外國投資者持有企業(yè)的全部股權(quán)；需由中方控股或相對控股的產(chǎn)業(yè)，該產(chǎn)業(yè)的企業(yè)被并購后，仍應(yīng)由中方在企業(yè)中占控股或相對控股地位；ARTICLE4MERGERANDACQUISITIONOFDOMESTICENTERPRISESBYFOREIGNINVESTORSSHALLCOMPLYWITHTHELAWS,ADMINISTRATIVEREGULATIONSANDRULESOFCHINAONINVESTORQUALIFICATIONSANDINDUSTRY,LANDANDENVIRONMENTALPROTECTIONPOLICIES,ETCINTHECASEOFINDUSTRIESINWHICHWHOLLYFOREIGNOWNEDOPERATIONSBYFOREIGNINVESTORSAREPROHIBITEDPURSUANTTOTHECATALOGUEONINDUSTRYGUIDELINESFORFOREIGNINVESTMENT,MERGERANDACQUISITIONOFENTERPRISESINSUCHINDUSTRIESBYFOREIGNINVESTORSMUSTNOTRESULTINHOLDINGOFTHE禁止外國投資者經(jīng)營的產(chǎn)業(yè)，外國投資者不得并購從事該產(chǎn)業(yè)的企業(yè)。被并購境內(nèi)企業(yè)原有所投資企業(yè)的經(jīng)營范圍應(yīng)符合有關(guān)外商投資產(chǎn)業(yè)政策的要求；不符合要求的，應(yīng)進(jìn)行調(diào)整。ENTIREEQUITYOFTHEENTERPRISESBYFOREIGNINVESTORSINTHECASEOFINDUSTRIESINWHICHCONTROLLINGSHAREHOLDINGORRELATIVECONTROLLINGSHAREHOLDINGBYACHINESEPARTYISREQUIRED,THECONTROLLINGSHAREHOLDINGORRELATIVECONTROLLINGSHAREHOLDINGOFENTERPRISESBYACHINESEPARTYSHALLCONTINUEAFTERTHEMERGERANDACQUISITIONOFENTERPRISESINSUCHINDUSTRIESINTHECASEOFINDUSTRIESINWHICHOPERATIONSBYFOREIGNINVESTORSAREPROHIBITED,MERGERANDACQUISITIONOFENTERPRISESINSUCHINDUSTRIESBYFOREIGNINVESTORSSHALLBEPROHIBITEDTHESCOPEOFBUSINESSOFINVESTEEENTERPRISESOFTHEACQUIREDDOMESTICENTERPRISESHALLCOMPLYWITHTHERELEVANTREQUIREMENTSONINDUSTRYPOLICIESFORFOREIGNINVESTMENTWHERETHEREQUIREMENTSARENOTCOMPLIEDWITH,ADJUSTMENTSHALLBEMADE第五條外國投資者并購境內(nèi)企業(yè)涉及企業(yè)國有產(chǎn)權(quán)轉(zhuǎn)讓和上市公司國有股權(quán)管理事宜的，應(yīng)當(dāng)遵守國有資產(chǎn)管理的相關(guān)規(guī)定。ARTICLE5MERGERANDACQUISITIONOFDOMESTICENTERPRISESBYFOREIGNINVESTORSWHICHINVOLVESTRANSFEROFSTATEOWNEDPROPERTYRIGHTSOFANENTERPRISEANDMANAGEMENTOFSTATEOWNEDEQUITYOFALISTEDCOMPANYSHALLCOMPLYWITHTHERELEVANTPROVISIONSONADMINISTRATIONOFSTATEOWNEDASSETS第六條外國投資者并購境內(nèi)企業(yè)設(shè)立外商投資企業(yè)，應(yīng)依照本規(guī)定經(jīng)審批機(jī)關(guān)批準(zhǔn)，向登記管理機(jī)關(guān)辦理變更登記或設(shè)立登記。ARTICLE6MERGERANDACQUISITIONOFDOMESTICENTERPRISESBYFOREIGNINVESTORSFORINCORPORATIONOFFOREIGNINVESTMENTENTERPRISESSHALLBESUBJECTTOAPPROVALBYTHEEXAMINATIONANDAPPROVALAUTHORITIESPURSUANTTOTHESE如果被并購企業(yè)為境內(nèi)上市公司，還應(yīng)根據(jù)外國投資者對上市公司戰(zhàn)略投資管理辦法，向國務(wù)院證券監(jiān)督管理機(jī)構(gòu)辦理相關(guān)手續(xù)。PROVISIONS,ANDCHANGEREGISTRATIONORINCORPORATIONREGISTRATIONFORMALITIESSHALLBECOMPLETEDWITHTHEREGISTRATIONADMINISTRATIONAUTHORITIESWHERETHEACQUIREDENTERPRISEISADOMESTICLISTEDCOMPANY,THERELEVANTFORMALITIESSHALLBECOMPLETEDWITHTHESECURITIESREGULATORYAUTHORITIESOFTHESTATECOUNCILPURSUANTTOTHEADMINISTRATIVEMEASURESONSTRATEGICINVESTMENTINLISTEDCOMPANIESBYFOREIGNINVESTORS第七條外國投資者并購境內(nèi)企業(yè)所涉及的各方當(dāng)事人應(yīng)當(dāng)按照中國稅法規(guī)定納稅，接受稅務(wù)機(jī)關(guān)的監(jiān)督。ARTICLE7THEPARTIESINVOLVEDINMERGERANDACQUISITIONOFDOMESTICENTERPRISESBYFOREIGNINVESTORSSHALLPAYTAXPURSUANTTOTHEPROVISIONSOFCHINATAXLAWSANDBESUBJECTTOSUPERVISIONBYTHETAXAUTHORITIES第八條外國投資者并購境內(nèi)企業(yè)所涉及的各方當(dāng)事人應(yīng)遵守中國有關(guān)外匯管理的法律和行政法規(guī)，及時(shí)向外匯管理機(jī)關(guān)辦理各項(xiàng)外匯核準(zhǔn)、登記、備案及變更手續(xù)。ARTICLE8THEPARTIESINVOLVEDINMERGERANDACQUISITIONOFDOMESTICENTERPRISESBYFOREIGNINVESTORSSHALLCOMPLYWITHTHERELEVANTLAWSANDADMINISTRATIVEREGULATIONSOFCHINAONFOREIGNEXCHANGECONTROL,ANDPROMPTLYCOMPLETEVARIOUSFOREIGNEXCHANGEAPPROVAL,REGISTRATION,FILINGANDCHANGEREGISTRATIONFORMALITIESWITHTHEFOREIGNEXCHANGECONTROLAUTHORITIES第二章基本制度CHAPTER2BASICSYSTEM第九條外國投資者在并購后所設(shè)外商投資企業(yè)注冊資本中的出資比例高于25的，該企業(yè)享受外商投資企業(yè)待遇。外國投資者在并購后所設(shè)外商投資企ARTICLE9WHERETHECAPITALCONTRIBUTIONBYAFOREIGNINVESTORINTHEFOREIGNINVESTMENTENTERPRISEINCORPORATEDAFTERMERGERANDACQUISITIONISMORETHAN25OFTHEREGISTEREDCAPITALOFTHEFOREIGNINVESTMENTENTERPRISE,THEENTERPRISESHALL業(yè)注冊資本中的出資比例低于25的，除法律和行政法規(guī)另有規(guī)定外，該企業(yè)不享受外商投資企業(yè)待遇，其舉借外債按照境內(nèi)非外商投資企業(yè)舉借外債的有關(guān)規(guī)定辦理。審批機(jī)關(guān)向其頒發(fā)加注“外資比例低于25”字樣的外商投資企業(yè)批準(zhǔn)證書（以下稱“批準(zhǔn)證書”）。登記管理機(jī)關(guān)、外匯管理機(jī)關(guān)分別向其頒發(fā)加注“外資比例低于25”字樣的外商投資企業(yè)營業(yè)執(zhí)照和外匯登記證。境內(nèi)公司、企業(yè)ENJOYTHETREATMENTOFFOREIGNINVESTMENTENTERPRISEWHERETHECAPITALCONTRIBUTIONBYAFOREIGNINVESTORINTHEFOREIGNINVESTMENTENTERPRISEINCORPORATEDAFTERMERGERANDACQUISITIONISLESSTHAN25OFTHEREGISTEREDCAPITALOFTHEFOREIGNINVESTMENTENTERPRISE,UNLESSOTHERWISESTIPULATEDBYLAWSANDADMINISTRATIVEREGULATIONS,THEENTERPRISESHALLNOTENJOYTHETREATMENTOFFOREIGNINVESTMENTENTERPRISEANDITSFOREIGNDEBTSHALLBEHANDLEDPURSUANTTOTHERELEVANTPROVISIONSONFOREIGNDEBTSOFNONFOREIGNINVESTMENTENTERPRISESINCHINATHEEXAMINATIONANDAPPROVALAUTHORITIESSHALLISSUEANAPPROVALCERTIFICATEFORFOREIGNINVESTMENT或自然人以其在境外合法設(shè)立或控制的公司名義并購與其有關(guān)聯(lián)關(guān)系的境內(nèi)公司，所設(shè)立的外商投資企業(yè)不享受外商投資企業(yè)待遇，但該境外公司認(rèn)購境內(nèi)公司增資，或者該境外公司向并購后所設(shè)企業(yè)增資，增資額占所設(shè)企業(yè)注冊資本比例達(dá)到25以上的除外。根據(jù)該款所述方式設(shè)立的外商投資企業(yè)，其實(shí)際控制人以外的外國投資者在企業(yè)注冊資本中的出資比例高于25的，享受外商投資企業(yè)待遇。外國投資者并購ENTERPRISEHEREINAFTERREFERREDTOASTHE“APPROVALCERTIFICATE”MARKEDWITHTHEWORDINGS“FOREIGNINVESTMENTRATIOLESSTHAN25”TOTHEENTERPRISETHEREGISTRATIONADMINISTRATIONAUTHORITIESANDTHEFOREIGNEXCHANGECONTROLAUTHORITIESSHALLISSUEAFOREIGNINVESTMENTENTERPRISEBUSINESSLICENCEANDFOREIGNEXCHANGEREGISTRATIONCERTIFICATEMARKEDWITHTHEWORDINGS“FOREIGNINVESTMENTRATIOLESSTHAN25”TOTHEENTERPRISERESPECTIVELYINTHECASEOFMERGERANDACQUISITIONOFADOMESTICCOMPANYWITHARELATEDPARTYRELATIONSHIPBYADOMESTICCOMPANY,ENTERPRISEORNATURALPERSONINTHENAMEOFANOVERSEASCOMPANYLEGITIMATELYINCORPORATEDORCONTROLLEDBYTHE境內(nèi)上市公司后所設(shè)外商投資企業(yè)的待遇，按照國家有關(guān)規(guī)定辦理。DOMESTICCOMPANY,ENTERPRISEORNATURALPERSON,THEFOREIGNINVESTMENTENTERPRISEINCORPORATEDSHALLNOTENJOYTHETREATMENTOFFOREIGNINVESTMENTENTERPRISE,EXCEPTWHERETHEOVERSEASCOMPANYSUBSCRIBESTOTHEADDITIONALCAPITALOFADOMESTICCOMPANYORWHERETHEOVERSEASCOMPANYSUBSCRIBESTOTHEADDITIONALCAPITALOFTHEENTERPRISEINCORPORATEDAFTERTHEMERGERANDACQUISITION,ANDTHEADDITIONALCAPITALCONSTITUTESMORETHAN25OFTHEREGISTEREDCAPITALOFTHEENTERPRISEINCORPORATEDWHERETHECAPITALCONTRIBUTIONBYFOREIGNINVESTORSOTHERTHANTHEACTUALCONTROLLINGPARTYISMORETHAN25OFTHEREGISTEREDCAPITALOFTHEFOREIGNINVESTMENTENTERPRISEINCORPORATEDPURSUANTTOTHEMETHODMENTIONEDINTHESAIDPARAGRAPH,THEFOREIGNINVESTMENTENTERPRISEINCORPORATEDSHALLENJOYTHETREATMENTOFFOREIGNINVESTMENTENTERPRISEFOREIGNINVESTMENTENTERPRISESINCORPORATEDBYFOREIGNINVESTORSUPONMERGERANDACQUISITIONOFADOMESTICLISTEDCOMPANYSHALLBEENTITLEDTOTHETREATMENTOFFOREIGNINVESTMENTENTERPRISEPURSUANTTOTHERELEVANTPROVISIONSOFTHESTATE第十條本規(guī)定所稱的審批機(jī)關(guān)為中華人民共和國商務(wù)部或省級商務(wù)主管部門以下稱“省級審批機(jī)關(guān)”，登記管理機(jī)關(guān)為中華人民共和國國家工商行政管理總局ARTICLE10EXAMINATIONANDAPPROVALAUTHORITIESREFERREDTOINTHESEPROVISIONSSHALLMEANTHEMINISTRYOFCOMMERCEOFTHEPEOPLESREPUBLICOFCHINAORTHEPROVINCIALCOMMERCEADMINISTRATIONAUTHORITIESHEREINAFTERREFERREDTOASTHE或其授權(quán)的地方工商行政管理局，外匯管理機(jī)關(guān)為中華人民共和國國家外匯管理局或其分支機(jī)構(gòu)。并購后所設(shè)外商投資企業(yè)，根據(jù)法律、行政法規(guī)和規(guī)章的規(guī)定，屬于應(yīng)由商務(wù)部審批的特定類型或行業(yè)的外商投資企業(yè)的，省級審批機(jī)關(guān)應(yīng)將申請文件轉(zhuǎn)報(bào)商務(wù)部審批，商務(wù)部依法決定批準(zhǔn)或不批準(zhǔn)?！癙ROVINCIALEXAMINATIONANDAPPROVALAUTHORITIES”THEREGISTRATIONADMINISTRATIONAUTHORITIESSHALLMEANTHESTATEADMINISTRATIONFORINDUSTRYANDCOMMERCEOFTHEPEOPLESREPUBLICOFCHINAORTHELOCALADMINISTRATIONFORINDUSTRYANDCOMMERCEAUTHORISEDBYTHESTATEADMINISTRATIONFORINDUSTRYANDCOMMERCETHEFOREIGNEXCHANGECONTROLAUTHORITIESSHALLMEANTHESTATEADMINISTRATIONOFFOREIGNEXCHANGEOFTHEPEOPLESREPUBLICOFCHINAORITSBRANCHESWHERETHEFOREIGNINVESTMENTENTERPRISEINCORPORATEDAFTERAMERGERANDACQUISITIONISACERTAINTYPEOFENTERPRISEORISINANINDUSTRYWHICHREQUIRESEXAMINATIONANDAPPROVALBYTHEMINISTRYOFCOMMERCEPURSUANTTOTHEPROVISIONSOFLAWS,ADMINISTRATIVEREGULATIONSANDRULES,THEPROVINCIALEXAMINATIONANDAPPROVALAUTHORITIESSHALLFORWARDTHEAPPLICATIONDOCUMENTSTOTHEMINISTRYOFCOMMERCEFOREXAMINATIONANDAPPROVALTHEMINISTRYOFCOMMERCESHALLDECIDEONAPPROVALORNONAPPROVALPURSUANTTOTHELAW第十一條境內(nèi)公司、企業(yè)或自然人以其在境外合法設(shè)立或控制的公司名義并購與其有關(guān)聯(lián)關(guān)系的境內(nèi)的公司，應(yīng)報(bào)商務(wù)部審批。當(dāng)事人不得以外商投資企業(yè)境內(nèi)投資或其他方式規(guī)避前述ARTICLE11MERGERANDACQUISITIONOFADOMESTICCOMPANYWITHARELATEDPARTYRELATIONSHIPBYADOMESTICCOMPANY,ENTERPRISEORNATURALPERSONINTHENAMEOFANOVERSEASCOMPANYLEGITIMATELYINCORPORATEDORCONTROLLEDBYTHEDOMESTICCOMPANY,ENTERPRISEORNATURALPERSONSHALLBESUBJECTTOEXAMINATIONANDAPPROVALBYTHE要求。MINISTRYOFCOMMERCETHEPARTIESINVOLVEDSHALLNOTUSEDOMESTICINVESTMENTBYFOREIGNINVESTMENTENTERPRISESOROTHERMETHODSTOCIRCUMVENTTHEAFORESAIDREQUIREMENTS第十二條外國投資者并購境內(nèi)企業(yè)并取得實(shí)際控制權(quán)，涉及重點(diǎn)行業(yè)、存在影響或可能影響國家經(jīng)濟(jì)安全因素或者導(dǎo)致?lián)碛旭Y名商標(biāo)或中華老字號的境內(nèi)企業(yè)實(shí)際控制權(quán)轉(zhuǎn)移的，當(dāng)事人應(yīng)就此向商務(wù)部進(jìn)行申報(bào)。當(dāng)事人未予申報(bào)，但其并購行為對國家經(jīng)濟(jì)安全造成或可能造成重大影響的，ARTICLE12INTHECASEOFMERGERANDACQUISITIONOFDOMESTICENTERPRISESBYFOREIGNINVESTORSANDOBTAININGOFACTUALCONTROLOFSUCHDOMESTICENTERPRISESWHICHINVOLVEKEYINDUSTRIESORHAVEANIMPACTONKEYINDUSTRIESORMAYCOMPROMISENATIONALANDECONOMICSECURITYORCAUSETRANSFEROFACTUALCONTROLOFDOMESTICENTERPRISESWHICHOWNWELLKNOWNTRADEMARKSORCHINATIMEHONOUREDBRANDS,THEPARTIESINVOLVEDSHALLSUBMITADECLARATIONTOTHEMINISTRYOFCOMMERCE商務(wù)部可以會同相關(guān)部門要求當(dāng)事人終止交易或采取轉(zhuǎn)讓相關(guān)股權(quán)、資產(chǎn)或其他有效措施，以消除并購行為對國家經(jīng)濟(jì)安全的影響。WHERETHEPARTIESINVOLVEDDONOTSUBMITADECLARATION,BUTTHEMERGERANDACQUISITIONHASORMAYHAVEASIGNIFICANTIMPACTONNATIONALANDECONOMICSECURITY,THEMINISTRYOFCOMMERCEMAY,JOINTLYWITHTHERELEVANTAUTHORITIES,REQUIRETHEPARTIESINVOLVEDTOTERMINATETHETRANSACTIONORADOPTTRANSFEROFTHERELEVANTEQUITYORASSETSOROTHEREFFECTIVEMEASURESTOELIMINATETHEIMPACTOFTHEMERGERANDACQUISITIONONNATIONALANDECONOMICSECURITY第十三條外國投資者股權(quán)并購的，并購后所設(shè)外商投資企業(yè)承繼被并購境內(nèi)公司的債權(quán)和債務(wù)。外國投資者資產(chǎn)ARTICLE13INTHECASEOFEQUITYACQUISITIONBYFOREIGNINVESTORS,THEFOREIGNINVESTMENTENTERPRISEINCORPORATEDAFTERTHEMERGERANDACQUISITIONSHALLSUCCEEDTHECREDITORSRIGHTSANDDEBTSOFTHE并購的，出售資產(chǎn)的境內(nèi)企業(yè)承擔(dān)其原有的債權(quán)和債務(wù)。外國投資者、被并購境內(nèi)企業(yè)、債權(quán)人及其他當(dāng)事人可以對被并購境內(nèi)企業(yè)的債權(quán)債務(wù)的處置另行達(dá)成協(xié)議，但是該協(xié)議不得損害第三人利益和社會公共利益。債權(quán)債務(wù)的處置協(xié)議應(yīng)報(bào)送審批機(jī)關(guān)。出售資產(chǎn)的境內(nèi)企業(yè)應(yīng)當(dāng)在投資者向?qū)徟鷻C(jī)關(guān)報(bào)送申請文件之前至少15日，向債權(quán)人發(fā)出通知書，并在全國發(fā)行的省級以上報(bào)紙上發(fā)布公告。ACQUIREDDOMESTICCOMPANYINTHECASEOFASSETSACQUISITIONBYFOREIGNINVESTORS,THEDOMESTICENTERPRISEWHICHDISPOSESTHEASSETSSHALLBEARTHEORIGINALCREDITORSRIGHTSANDDEBTSTHEFOREIGNINVESTORS,THEACQUIREDDOMESTICENTERPRISES,THECREDITORSANDOTHERPARTIESINVOLVEDMAYSEPARATELYAGREEONTHEDISPOSALOFCREDITORSRIGHTSANDDEBTSOFTHEACQUIREDDOMESTICENTERPRISE,PROVIDEDTHATTHEAGREEMENTSHALLNOTHARMTHEINTERESTSOFTHETHIRDPARTIESANDTHEPUBLICINTERESTTHEAGREEMENTONDISPOSALOFCREDITORSRIGHTSANDDEBTSSHALLBESUBMITTEDTOTHEEXAMINATIONANDAPPROVALAUTHORITIESADOMESTICENTERPRISEDISPOSINGITSASSETSSHALLISSUEANOTICETOITSCREDITORSATLEAST15DAYSBEFORETHEINVESTORSUBMITSTHEAPPLICATIONDOCUMENTSTOTHEEXAMINATIONANDAPPROVALAUTHORITIES,ANDPUBLISHAPUBLICANNOUNCEMENTONNEWSPAPERSOFPROVINCIALLEVELANDABOVEWHICHARECIRCULATINGNATIONWIDE第十四條并購當(dāng)事人應(yīng)以資產(chǎn)評估機(jī)構(gòu)對擬轉(zhuǎn)讓的股權(quán)價(jià)值或擬出售資產(chǎn)的評估結(jié)果作為確定交易價(jià)格的依據(jù)。并購當(dāng)事人可以約定在中國境內(nèi)依法設(shè)立的資產(chǎn)評估機(jī)構(gòu)。資產(chǎn)評估應(yīng)采用國際通行的評估方法。禁止以明顯低于評估結(jié)果的價(jià)格轉(zhuǎn)ARTICLE14THEPARTIESINVOLVEDINAMERGERANDACQUISITIONSHALLUSETHEVALUEOFTHEEQUITYPROPOSEDTOBETRANSFERREDORTHEVALUATIONOUTCOMESOFTHEASSETSPROPOSEDTOBESOLDASEVALUATEDBYANASSETSVALUATIONORGANISATIONASTHEBASISFORDETERMINATIONOFTHETRANSACTIONPRICETHEPARTIESINVOLVEDINAMERGERANDACQUISITIONMAYAGREEONTHEAPPOINTMENTOFANASSETSVALUATION讓股權(quán)或出售資產(chǎn)，變相向境外轉(zhuǎn)移資本。外國投資者并購境內(nèi)企業(yè)，導(dǎo)致以國有資產(chǎn)投資形成的股權(quán)變更或國有資產(chǎn)產(chǎn)權(quán)轉(zhuǎn)移時(shí)，應(yīng)當(dāng)符合國有資產(chǎn)管理的有關(guān)規(guī)定。ORGANISATIONESTABLISHEDINCHINAPURSUANTTOTHELAWINTERNATIONALLYACCEPTEDVALUATIONMETHODSHALLBEADOPTEDFORASSETSVALUATIONEQUITYTRANSFERORDISPOSALOFASSETSSHALLNOTBEMADEATAPRICEWHICHISEVIDENTLYLOWERTHANTHEVALUATIONOUTCOMESFORMOVEMENTOFFUNDSTOOVERSEASINDISGUISEWHERETHEMERGERANDACQUISITIONOFADOMESTICENTERPRISEBYAFOREIGNINVESTORCAUSESCHANGESINEQUITYFORMEDBYSTATEOWNEDASSETSINVESTMENTORTRANSFEROFPROPERTYRIGHTSOFSTATEOWNEDASSETS,THERELEVANTPROVISIONSONADMINISTRATIONOFSTATEOWNEDASSETSSHALLBECOMPLIEDWITH第十五條并購當(dāng)事人應(yīng)對并購各方是否ARTICLE15THEPARTIESINVOLVEDINAMERGERANDACQUISITIONSHALL存在關(guān)聯(lián)關(guān)系進(jìn)行說明，如果有兩方屬于同一個(gè)實(shí)際控制人，則當(dāng)事人應(yīng)向?qū)徟鷻C(jī)關(guān)披露其實(shí)際控制人，并就并購目的和評估結(jié)果是否符合市場公允價(jià)值進(jìn)行解釋。當(dāng)事人不得以信托、代持或其他方式規(guī)避前述要求。EXPLAINWHETHERTHEYHAVEANYRELATEDPARTYRELATIONSHIPWHEREBOTHPARTIESAREUNDERTHECOMMONCONTROLOFANACTUALCONTROLLINGPARTY,THEPARTIESINVOLVEDSHALLDISCLOSETHEIRACTUALCONTROLLINGPARTYTOTHEEXAMINATIONANDAPPROVALAUTHORITIES,ANDEXPLAINTHEOBJECTIVEOFTHEMERGERANDACQUISITIONANDWHETHERTHEVALUATIONOUTCOMECOMPLIESWITHMARKETFAIRVALUETHEPARTIESINVOLVEDSHALLNOTCIRCUMVENTTHEAFORESAIDREQUIREMENTSBYWAYOFTRUST,SHAREHOLDINGONBEHALFORANYOTHERMETHODS第十六條外國投資者并購境內(nèi)企業(yè)設(shè)立外商投資企業(yè)，外國投資者應(yīng)自外商投資ARTICLE16INTHECASEOFMERGERANDACQUISITIONOFADOMESTICENTERPRISEBYAFOREIGNINVESTORFORINCORPORATIONOFAFOREIGN企業(yè)營業(yè)執(zhí)照頒發(fā)之日起3個(gè)月內(nèi)向轉(zhuǎn)讓股權(quán)的股東，或出售資產(chǎn)的境內(nèi)企業(yè)支付全部對價(jià)。對特殊情況需要延長者，經(jīng)審批機(jī)關(guān)批準(zhǔn)后，應(yīng)自外商投資企業(yè)營業(yè)執(zhí)照頒發(fā)之日起6個(gè)月內(nèi)支付全部對價(jià)的60以上，1年內(nèi)付清全部對價(jià)，并按實(shí)際繳付的出資比例分配收益。外國投資者認(rèn)購境內(nèi)公司增資，有限責(zé)任公司和以發(fā)起方式設(shè)立的境內(nèi)股份有限公司的股東應(yīng)當(dāng)在公司申請外商投資企業(yè)營業(yè)執(zhí)照時(shí)繳付不INVESTMENTENTERPRISE,THEFOREIGNINVESTORSHALLPAYTHETOTALCONSIDERATIONTOTHETRANSFERORSHAREHOLDERORTHEDOMESTICENTERPRISEWHICHDISPOSESTHEASSETSWITHINTHREEMONTHSFROMTHEDATEOFISSUANCEOFTHEBUSINESSLICENCEOFTHEFOREIGNINVESTMENTENTERPRISEWHERETHEREISANEEDFOR