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| China to set regulations for managing foreign partnerships |
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| www.chinaview.cn
2006-08-27 21:49:31
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BEIJING, Aug. 27 (Xinhua) -- Foreign enterprises or
individuals setting up partnership enterprises in China should abide by
regulations made by the State Council, according to the revised partnership law,
adopted here on Sunday.
China's top legislature, the Standing Committee of National People's
Congress, voted to adopt the revised partnership law, which will go into effect
on April 1, 2007.
The draft law , which was submitted for first read in
April, originally stipulated that foreign enterprises or individuals should
establish and run general partnerships in China in accordance with relative
regulations of the country, but without illustrating which department will make
the regulations.
After deliberation, the relevant provision in the law
is changed as "the State Council will stipulate regulations for foreigners to
establish and run partnership in China".
Lawmakers said China has made promise to open doors
for foreign professional organizations when it entered the World Trade
Organization (WTO). The revised partnership law will help fulfill the promise.
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