Chengdu Administration of Industry and Commerce (CAIC) held a news conference in Chengdu on Wednesday and said that the Administrative Measures for the Establishment of Partnership Enterprises within China by Foreign Enterprises or Individuals (FIP Measures) by the state government had come into effect since Mar. 1 and local administrations had been well prepared to give go-ahead to the fi rst establishment of partnership enterprise by foreign enterprises or individuals in the city.
According to the FIP Measures, foreign individuals or enterprises are allowed to establish a partnership with either foreign investors or Chinese individuals or enterprises.
The FIP Measures also apply to individuals or enterprises from Hong Kong, Macao and Taiwan. Under the new rules, foreign individuals or enterprises can join to existing Chinese and Foreign partnerships as new partners.
The partnership enterprise is a new form of investment, other than the Three Types of Foreign-funded Enterprises, i.e. Sino-foreign equity joint venture, Sino-foreign contractual joint venture and wholly foreign owned enterprise.
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