外商投资租赁业管理办法 Administration of Foreign Investment in the Leasing Industry Procedures

t application procedures in accordance with the relevant provisions.

　　Import of leased property by foreign-invested leasing companies shall be handled according to the current provisions on import of equipment by foreign-invested enterprises.

　　Article 16　The risk assets of a foreign-invested finance leasing company shall not， in general， exceed ten times of its total net assets， in order to safeguard against risks and ensure safe business operation. Risk assets shall be determined on the basis of the total assets of the enterprise less cash， bank deposits， government bonds and entrusted lease assets.

　　Article 17　Foreign-invested finance leasing companies shall， before March 31 each year， submit to the Ministry of Commerce a business operation report for the previous year and a financial report for the previous year audited by an accounting firm.

　　Article 18　The Leasing Business Committee of China Association of Enterprises with Foreign Investment is the industry organization responsible for administering self-regulation by foreign-invested leasing industry. Foreign-invested leasing companies and foreign-invested finance leasing companies are encouraged to join the said committee.

　　Article 19　If a foreign-invested leasing company or a foreign-invested finance leasing company violates laws， regulations and rules of China， it shall be handled in accordance with the relevant provisions.

　　Article 20　The establishment of foreign-invested leasing companies and foreign-invested finance leasing companies in the mainland by companies， enterprises and other economic organizations from the Hong Kong Special Administrative Region， the Macao Special Administrative Region and the Taiwan region shall be handled with reference to these Procedures.

　　Article 21　For the purposes of these Procedures， a “department in charge of commerce” at the provincial level shall mean the department in charge of commerce of provinces， autonomous regions， municipalities directly under the central government， municipalities with independent development plans and the Xinjiang Production and Construction Corps.

　　Art

icle 22　The Ministry of Commerce shall be responsible for the interpretation of these Procedures.

　　Article 23　These Procedures shall be implemented as of 5 March 2005. Order No. 3 of 2001 of the former Ministry of Foreign Trade and Economic Cooperation， Administration of the Examination and Approval of Foreign-funded Leasing Companies Tentative Procedures， shall be repealed simultaneously

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