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Thread: Measures for Administration of Strategic Investments of Foreign Investors inListed Companies

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[quote=JIMMYB,250306]Article 19 A listed company shall go through corresponding formalities in taxation, customs, foreign exchange administration and other corresponding organs within 30 days at the date of issuing business license for foreign merchants invested enterprises. Foreign exchange administrations shall make remarks “foreign merchants invested joint stock companies (merger of A Share) on foreign exchange registration card that will be issued. If the investors obtain 25 per cent or more shares of single listed companies in strategic investment and promise their share holding is no less than 25 per cent within 10 years, foreign exchange administrations shall make remarks as “foreign merchants invested joint stock companies (merger of A Share 25 per cent or more) on foreign exchange registration card. 
Article 20 An investor shall not buy and sell bond (except for B Share) except for following circumstances: 
1. The A share stock of a listed company held by the investor for making strategic investment may be sold after the expiry of shareholding period in its promise;2. 
2. In case the investor makes purchase by offer in accordance with the relevant provisions of the Securities Law, it may purchase the shares sold by A share shareholders of the listed company within the period of the offer; 
3. Non-tradable shares hold by the investors before the reform of the Reform of Tax Incentives Regarding Non-tradable Shares of the listed companies may be sold after the Reform of Tax Incentives Regarding Non-tradable Shares and at the expiration of selling limit; 
4. The shares held by the investors before the listed companies public issued for the first time may be sold at the expiration of the selling limit; or 
5. Before the expiry of the share holding period as promised by an investor, if there is necessity to transfer its shares due to its bankruptcy, liquidation, or mortgage, or other special reasons, it may transfer its shares upon the approval of the Ministry of Commerce. 
Article 21 In case an investor reduces its shares, which makes the foreign capital share of a listed company less than 25%, the listed company shall make archival filing within 10 days to the Ministry of Commerce, and go through the relevant formalities for alteration of the certificate of approval for foreign-funded enterprises. 
In case an investor reduces its shares, which makes the foreign capital share of a listed company less than 10%, and the investor is not a single largest shareholder, the listed company shall go through the formality for the change at the industrial and commercial administration and go through the relevant formalities for writing off the certificate of approval for foreign-funded enterprises within 10 days. 
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