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    China Sino-Foreign Limited Liability Joint Venture Contract


    Set up a limited liability joint venture company in China with this Sino-Foreign Limited Liability Joint Venture Contract, in accordance with the Sino-Foreign Contractual Joint Venture Law.

    • This joint venture is between two corporate bodies, one a Chinese national corporation and the other a foreign company.
    • The parties will set up a limited liability company, which will be established as a contractual joint venture.
    • The foreign company's initial capital contribution may be in cash or in kind, equipment and machinery. It will make an additional capital contribution each year.
    • The national company's initial capital contribution will consist of its existing assets that it is contributing to the operations of the joint venture, including inventory, equipment, vehicles, buildings, labour, land, etc.
    • If additional contributions are required, they are to take the form of shareholder loans. Each shareholder will be required to provide one-half of such additional contributions.
    • The national company will be solely responsible for paying relocation costs, pension fund payments, termination costs, or any outstanding liability, tax or other debts it incurs.
    • The foreign company will be responsible for assisting the joint venture in engaging foreign agents, providing capital, making any purchases the venture requires from outside of China, and selling the venture's products internationally.
    • The national company will obtain all necessary approvals and permits, obtaining utilities, space and labour at the best prices, and will deal with all government officials in the course of business.
    This English language Sino-Foreign Limited Liability Joint Venture Contract template is prepared in accordance with the laws of the People's Republic of China. A Chinese translation of the document may also be required for it to be legally enforceable.
    Download Type: Microsoft Word
    Last Updated: 14-April-2016
    SKU: 7604
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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.