Bureaus of industrial and commercial administration and departments of commercial administration in all provinces, autonomous regions, municipalities and separately listed city in the state’s plan:
In accordance with Regulations on Administration of Foreign Funded Advertisement Enterprises (Decree No.8 of State Administration for Industry and Commerce and Ministry of Commerce on Mar 2, 2004, hereinafter referred to as Regulations on Advertisement) and Provisional Regulations on Merger and Acquisition of Domestic Enterprises by Foreign Investors (Decree No.3 of Ministry of Foreign Trade and Economic Cooperation, State Administration of Taxation, State Administration for Industry and Commerce and State Administration of Foreign Exchange on Mar 7, 2003, hereinafter referred to as Regulations on Merger and Acquisition), related matters on foreign investors to establish foreign funded advertisement enterprises through equity shares merger and acquisition are now announced as follows:
1. Foreign investors may establish Sino-foreign cooperative advertisement enterprises by purchasing part of the equity shares of domestic enterprises, and establish foreign funded advertisement enterprises by purchasing all of the equity shares of domestic enterprises in line with Regulations on Advertisement and Regulations on Merger and Acquisition.
2. Foreign investors to establish foreign funded advertisement enterprises through equity shares merger and acquisition, both the domestic investors and foreign investors shall conform to conditions of Article 9 and Article 10 of Regulations on Advertisement.
3. Foreign investors investing in advertisement industry through merger and acquisition of domestic advertisement enterprises shall go through formalities of examination and approval and registration in line with regulations of Article 6 and Article 7 of Regulations on Advertisement.
4. Acquiring Opinion of Examination and Approval on Project of Foreign Funded Advertisement Enterprises issued by State Administration for Industry and Commerce, applicants shall submit related documents and go through formalities of examination and approval in line with Regulations on Advertisement and related rules on merger and acquisition.
State Administration for Industry and Commerce,
Ministry of Commerce
Apr 11, 2006
