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    China Sino-Foreign Joint Venture Agreement


    Set up a joint venture in China with this Sino-Foreign Joint Venture Agreement, in accordance with the Management of Foreign Joint Venture Enterprise Law of the PRC.

    • This joint venture can be between individuals or corporate bodies, with at least one party being resident in China.
    • Any party that fails to pay in its investment by the due date is required to pay a penalty calculated as a percentage of its total investment amount.
    • If one of the venturers wishes to sell all or part of its interest in the joint venture, the other party has a first right of refusal to acquire the interest.
    • The board of directors appointed by the venturers will make all significant decisions for the joint venture. The chairman of the board will be the joint venture's legal representative.
    • The board will appoint a general manager to be responsible for the joint venture's operations. The general manager, in turn, will appoint administrative management heads to run the day-to-day business.
    • Supplies, equipment, commodities and materials will be purchased in China if all terms are equal. Any items purchased overseas must be based on the best price ⁄ performance mix.
    • All financial audits must be done by an accountant registered and allowed to practice in China.
    This Sino-Foreign Joint Venture Agreement template is governed by the laws of the People's Republic of China. This is an English-language legal form. A Chinese translation of the document may be required.
    Download Type: Microsoft Word
    Last Updated: 14-April-2016
    SKU: 8764