2014年12月外商投资要闻简讯（Bilingual Version）

2014年年末，中国进一步推进银行业对外开放，并积极推进区域性自贸区建设。国务院决定再次修订《中华人民共和国外资银行管理条例》（下称“《外资银行管理条例》”）。商务部公布《关于经营者集中附加限制性条件的规定（试行）》对于经营者集中附加限制性条件的确定、实施及监督作出了详细规定。国务院批准再设立三个自由贸易试验区。
At the end of 2014, China further promoted the opening up of the banking industry and development of regional pilot free trade zones (the“FTZ”). The State Council decided to further revise the Administrative Regulations of the People’s Republic of China on Foreign-invested Banks (the “Foreign-invested Banks Regulations”). The Ministry of Commerce (“MOFCOM”) published the Provisions on Imposing Restrictive Conditions on the Concentration of Undertakings (for Trial Implementation) (the “Provisions”), which prescribed the determination, implementation and supervision of imposing restrictive conditions on the concentration of undertakings in detail. The State Council approved the launches of another three FTZs.
一、国务院再次修订《外资银行管理条例》The State Council Revised the Foreign-invested Banks Regulations Again.
国务院于2014年7月29日对《外资银行管理条例》作出首次修订后，2014年11月27日再次作出修订。修订后的《外资银行管理条例》自2015年1月1日起施行[1]。
On July 29, 2014, the State Council revised the Foreign-invested Banks Regulations for the first time; on November 27, 2014, the State Council again revised the said regulations. The second amendment was effective as of January 1, 2015. [1]
（一）背景Background
《外资银行管理条例》是国务院2006年公布并施行的，该条例对外资银行的设立与登记、业务范围、监督管理等作了明确规定，其中对外资银行准入和开办人民币业务规定了较为严格的条件。
The Foreign-invested Banks Regulations were published and implemented by the State Council in 2006, which clearly stipulated the establishment and registration, business scope, and supervision and administration of the foreign-invested banks, and in particular stipulated strict requirements on domestic market access and conduct of RMB business by foreign-invested banks.
为了深化银行业对外开放、更好地发挥外资银行的积极作用，提升我国银行业服务和管理水平，有必要再次对《外资银行管理条例》作出修改[2]。
It is necessary to revise the Foreign-invested Banks Regulations again, in order to deepen the opening-up of the banking industry and further improve the domestic banking service and administration. [2]
（二）法律点评LegalReview
此次修改主要集中在放宽外资银行准入条件、放宽外资银行营业性机构申请经营人民币业务条件两个方面。
This new amendment mainly focuses on lowering the domestic market access threshold for foreign-invested banks and loosening restrictions on conduct of RMB business by business institutions of foreign-invested banks.
就放宽外资银行准入而言，一方面是对外商独资银行、中外合资银行在中国境内设立的分行，不再规定其总行无偿拨给的营运资金的最低限额（原最低限额为1亿元人民币或者等值的自由兑换货币）。取消这一数额限制后，外商独资银行、中外合资银行可以根据自身的实际业务需求，在其分行之间有效配置营运资金。另一方面是不再将已经在中国境内设立代表处作为外国银行（外国金融机构）在中国境内设立外商独资银行、中外合资银行，以及外国银行在中国境内初次设立分行的条件。取消这一条件后，外国银行（外国金融机构）在中国境内设立营业性机构可以自主选择是否先行设立代表处。
As for lowering the domestic market access threshold, firstly, the amended regulations remove the limitation on minimum working capital (which was not less than RMB100 million or the equivalent in a freely convertible currency)that the head office should grant without consideration to the domestic branches established by wholly foreign-owned banks and Sino-foreign joint venture banks. After the elimination of this restriction, wholly foreign-owned banks and Sino-foreign joint venture banks may allocate the working capital efficiently among their branches as needed. Secondly, foreign banks (foreign financial institutions), which plan to set up wholly foreign-owned banks and Sino-foreign joint venture banks in China, and foreign banks which plan to set up their first branches in China, are no longer required to establish domestic representative offices first in China, as the pre-condition. Thus, foreign banks (foreign financial institutions) intending to establish business institutions in China may decide at their sole discretion whether to set up representative offices first.
就放宽外资银行营业性机构申请经营人民币业务条件而言，将在中国境内的开业年限要求由3年以上改为1年以上，不再要求提出申请前2年连续盈利，并规定外国银行的1家分行已获准经营人民币业务的，该外国银行在中国境内设立的其他分行申请经营人民币业务不受开业时间的限制。放宽条件后，有意愿的外资银行营业性机构可以在较短时间内更为便捷地申请开展人民币业务。
As for loosening restrictions on conduct of RMB business by business institutions of foreign-invested banks, the amended regulations reduce the requirement on years of prior business operation from “more than 3 years” to “more than 1 year” and no longer require realization of profit in two consecutive years before making the application. In addition, if one branch of a foreign bankhas already been approved for RMB business, other branches established by that foreign bank in China will not be subject to the requirement on years of prior business operation when applying for the RMB business. After the above amendments are implemented,it will be more convenient for the business institutions of foreign-invested banks intending to conduct RMB business to apply for such business.
（三）关注要点Next Step
《中华人民共和国外资银行管理条例实施细则》、《中国银监会外资银行行政许可事项实施办法》需根据修改后的《外资银行管理条例》进行调整，相关立法的修订值得关注。
The Implementing Rules of the Administrative Regulations of the People’s Republic of China on Foreign-invested Banks and the Implementing Measures of the China Banking Regulatory Commission for Administrative Licensing Matters concerning Foreign-invested Banks may be later adjusted according to the new amendments of the Foreign-invested Banks Regulations, which are noticeable.
二、商务部公布《关于经营者集中附加限制性条件的规定（试行）》The MOFCOM Published the Provisions on Imposing Restrictive Conditions on the Concentration of Undertakings (for Trial Implementation).
2014年12月4日，商务部公布了《关于经营者集中附加限制性条件的规定（试行）》（下称“《规定》”），并自2015年1月5日起施行。《规定》对于经营者集中附加限制性条件的确定、实施及监督作出了详细规定。
On December 4, 2014, the MOFCOM published the Provisions, which was effective as of January 5, 2015. The Provisions stipulate the determination, implementation and supervision of imposing restrictive conditions on the concentration of undertakings in detail.
（一）背景Background
《中华人民共和国反垄断法》（下称“《反垄断法》”）第29条规定：“对不予禁止的经营者集中，国务院反垄断执法机构可以决定附加减少集中对竞争产生不利影响的限制性条件。”商务部是经营者集中的执法机构。
Article 29 of the Anti-Monopoly Law of the People’s Republic of China (the “Anti-Monopoly Law”) prescribes that “where the authority for enforcement of the Anti-monopoly Law under the State Council does not prohibit the concentration of undertakings, it may decide to impose additional, restrictive conditions for lessening the negative impact exerted by such concentration on competition.” The MOFCOM is the authority for enforcement of law on the concentration of undertakings.
《反垄断法》实施以来，附加限制性条件已经成为消除经营者集中对市场竞争产生不利影响的主要方式，例如商务部于2012年决定附加限制性条件批准谷歌公司收购摩托罗拉移动公司[3]、于2014年决定附加限制性条件批准美国微软公司收购芬兰诺基亚公司设备和服务业务[4]。
Since the Anti-Monopoly Law took effect, imposing restrictive conditions has become a major approach to eliminate the negative impact on the market competition exerted by concentration of undertakings. For example, in 2012, the MOFCOM decided to impose restrictive conditions on the approval of the acquisition of Motorola Mobility by Google[3], and again in 2014, the MOFCOM decided to impose restrictive conditions on the approval of the acquisition of the devices and services business of Nokia by Microsoft[4].
在《规定》公布前，商务部已于2010年7月5日公布了《关于实施经营者集中资产或业务剥离的暂行规定》（下称“《暂行规定》”）。商务部在《暂行规定》的基础上，总结已有经验起草了《规定》。《规定》于2015年1月5日起施行，《暂行规定》同时废止。
Prior to the publication of the Provisions, the MOFCOM published the Interim Provisions of the Ministry of Commerce on Implementing Assets or Business Divestiture in Concentration of Business Operators (the “Interim Provisions”) on July 5, 2010. The MOFCOM drafted the Provisions based on the Interim Provisions in combination with existing experience. Accordingly, the Interim Provisions were abolished and the Provisions took effect as of January 5, 2015.
（二）法律点评Legal Review
《规定》规定了三类限制性条件：一是结构性条件，主要包括剥离有形资产、知识产权或相关权益；二是行为性条件，包括开放网络或平台基础设施、许可关键技术（包括专利、专有技术或其他知识产权）、终止排他性协议；三是结构性和行为性相结合的综合性条件。
The Provisions stipulate three categories of restrictive conditions: (1) structural conditions, which mainly include divestiture of tangible assets,intangible assets including intellectual property rights or the relevant rights and interests; (2) behavioral conditions, which include opening infrastructures including networks or platforms, licensing key technologies (including patents, know-how or other intellectual property rights), and terminating exclusive agreements; and (3) comprehensive conditions combining both structural conditions and behavioral conditions.
经审查，经营者集中具有或者可能具有排除、限制竞争效果的，商务部应及时向申报方提出并说明理由。申报方应当在规定期限内提出限制性条件建议。申报方提出的限制性条件建议应当满足有效性、可行性、及时性的要求。商务部收到申报方的建议后，应与申报方进行协商，并对附条件建议进行评估，将评估结果通知申报方。申报方提出的附条件建议首选方案存在不能实施的风险的，商务部可以在审查决定中要求申报方在首选方案基础上提出备选方案。备选方案应比首选方案的条件更为严格，可以包括不同核心资产，包括有形资产、知识产权等无形资产或相关权益等。如果申报方在规定期限内未提出附条件建议的，或者所提出的附条件建议不足以减少集中对竞争产生的不利影响的，商务部应当禁止该项集中。商务部应当将附加限制性条件的审查决定向社会公布。
After examination, if the concentration of undertakings has or probably has the effect of eliminating or restricting competition, the MOFCOM shall promptly notify and explain the reasons to the applicants. The applicants shall propose restrictive conditions within the prescribed period. The proposal of restrictive conditions shall be effective, feasible and timely. Afterthe MOFCOM receives the proposal, it shall negotiate with the applicants, evaluate the proposal, and notify the applicants of the evaluation results. If there is a risk that the implementation of the preferred proposal is impossible, the MOFCOM may requirein the examination decision the applicants to put forward an alternative, in addition to the preferred proposal. The alternative shall be stricter than the preferred proposal in terms of conditions, and may include different core assets such as tangible assets, intangible assets like intellectual property rights or the relevant rights and interests. If an applicant does not submit a proposal of restrictive conditions within the specified period, or the proposal made by the applicant is insufficient to reduce negative effects ofthe concentration on competition, the MOFCOM shall forbid the said concentration. The MOFCOM shall announce the examination decision with the imposed restrictive conditions to the public.
附加限制性条件为剥离的，《规定》除了吸收了《暂行规定》的实施程序，还增加了对剥离业务买方的资格要求、时限要求，如剥离义务人应当在出售协议签订之日起三个月内将剥离业务转移给买方，并完成所有权转移等相关法律程序等内容。
Regarding the restrictive condition of asset or business divestiture, the Provisions not only follow the implementation procedures stipulated in the Interim Provisions, but also add requirements on the qualification of buyer of the divested business and the term for completion of divesture. For instance, the divesting party shall transfer the divested business to the buyer within 3 months after the date of conclusion of the sale agreement, and complete the relevant legal procedures such as transfer of ownership.
（三）关注要点Next Step
《规定》生效后，商务部在审查经营者集中申报时将如何附加限制性条件，剥离义务人将如何实施限制性条件，值得关注。
It is noteworthy to watch how the MOFCOM will impose restrictive conditions during the examination of the notification of concentration of undertakings,and how the divesting party will implement the restrictive conditions, after the Provisions took effect.
三、国务院批准设立中国（广东）自由贸易试验区、中国（天津）自由贸易试验区、中国（福建）自由贸易试验区The State Council Approved China (Guangdong) FTZ, China (Tianjin) FTZ and China (Fujian) FTZ
2014年12月12日，国务院常务会议决定在广东、天津、福建的特定区域再设三个自由贸易试验区[5]。
On December 12, 2014, the State Council decided to launch three more FTZs in certain areas of Guangdong, Tianjin, and Fujian provinces. [5]
2014年12月28日，全国人民代表大会常务委员会授权国务院在中国（广东）自由贸易试验区、中国（天津）自由贸易试验区、中国（福建）自由贸易试验区以及中国（上海）自由贸易试验区扩展区域内，于2015年3月1日起暂时调整《中华人民共和国外资企业法》、《中华人民共和国中外合资经营企业法》、《中华人民共和国中外合作经营企业法》和《中华人民共和国台湾同胞投资保护法》规定的有关行政审批，但是国家规定实施准入特别管理措施的除外。上述行政审批的调整在三年内试行，对实践证明可行的，修改完善有关法律；对实践证明不宜调整的，恢复施行有关法律规定[6]。
On December 28, 2014, the Standing Committee of the National People’s Congress authorized the State Council to temporarily adjust certain rules concerning administrative approval under the Law of the People’s Republic of China on Wholly Foreign-owned Enterprises, the Law of the People’s Republic of China on Sino-Foreign Equity Joint Ventures, the Law of the People’s Republic of Chinaon Sino-Foreign Cooperative Joint Ventures and the Law of the People’s Republic of China on the Protection of the Investments of Taiwan Compatriots, effective as of March 1, 2015 for projects implemented in China(Guangdong) FTZ, China (Tianjin) FTZ, China (Fujian) FTZ and the expanded area of China (Shanghai) FTZ, except where the specific administrative measures formarket access should apply as required by the State. These adjustments will be implemented for trial in such FTZs for 3 years. After the trial, the adjustments that are proved feasible will be adopted in the future law amendments, and those that are proved non-feasible will be abandoned and original rules will be resumed. [6]
（一）背景Background
中国（上海）自由贸易试验区运行一年来，在准入前国民待遇加负面清单的外商投资管理模式、贸易便利化、资本项目可兑换和金融服务业开放等金融制度创新以及加强事中事后监管等方面积累了经验。
China (Shanghai) FTZ, launched one year ago, has accumulated experience regarding the foreign investment administration mode combining the pre-establishment national treatment and negative list, experiencein relation to trade facilitation, capital account convertibility, opening up of financial service industry and other financial system innovations, as well as experience concerning supervision during and after establishment.
扩展中国（上海）自由贸易试验区区域范围，并在广东省、天津市和福建省，依托现有新区、园区再设三个自由贸易试验区，可以与中国（上海）自由贸易试验区形成互补试验和对比试验，充分检验相关改革开放措施的实施效果以及复制推广的可行性，为全面深化改革、扩大开放进一步探索新途径、积累新经验[7]。
The implementation results of the reform and opening-up measures will be examined and the feasibility of replicating and promoting such measures will be explored, by expanding China (Shanghai) FTZ and launching three more FTZs in Guangdong, Tianjin and Fujian based on their existing new districts and industrial zones, which can complement and compare with existing China(Shanghai) FTZ, so as to further explore new approaches and accumulate experience on deepening reform and furthering opening up. [7]
（二）法律点评Legal Review
2015年3月1日起，在中国（广东）自由贸易试验区、中国（天津）自由贸易试验区、中国（福建）自由贸易试验区以及中国（上海）自由贸易试验区扩展区域内将暂停实施外资企业设立、分立、合并或者其他重要事项变更、延长经营期限的审批；中外合资经营企业设立、延长合营期限、解散的审批；中外合作经营企业设立、协议、合同、章程重大变更、转让合作企业合同权利、义务、委托他人经营管理、延长合作期限的审批；以及台湾同胞投资企业设立审批。
As of March 1, 2015, in China (Guangdong) FTZ, China (Tianjin) FTZ, China(Fujian) FTZ and the expanded area of China (Shanghai)FTZ, the approval requirements for the following items will be temporally removed: (1) establishment, division, merger, other important changes, and extension of the operation term of wholly foreign-owned enterprises; (2)establishment, extension of the operation term and dissolution of Sino-foreign equity joint ventures; (3) establishment, important changes of the agreements,contracts and articles of association of Sino-foreign cooperative joint ventures, assignment of rights and obligations under the cooperative joint venture contract, entrustment of the operation and management to a third party, and extension of the operation term of cooperative joint ventures; and (4) establishment of Taiwan-invested enterprises.
（三）关注要点Next Step
2014年12月16日，商务部新闻发言人沈丹阳在商务部例会透露，广东、天津、福建正在抓紧拟定自贸试验区试点方案，方案将以中国（上海）自由贸易试验区试点内容为主体，结合区位特点、产业基础等地方特点，充实新的试点内容，商务部将全力来推动这项工作。目前三个新设的自贸试验区试点方案尚未公布，相关进展值得关注。
On December 16, 2014, Danyang SHEN, the press spokesman of the MOFCOM, revealed that, Guangdong, Tianjin and Fujian provinces were accelerating the drafting of the schemes for FTZs, which would be based on the scheme for China (Shanghai) FTZ and be supplemented with customized contents taking into account of the local characteristics of the zones and features of its industrial bases. The MOFCOM would make its best efforts to procure the drafting of such schemes. So far, the schemes for such three FTZs have not been released and we will keep a close eye on the progress.
此外，我们注意到，在批准设立中国（广东）自由贸易试验区之前，国务院通过了《关于支持广州南沙新区深化粤港澳台金融合作和探索金融改革创新的意见》（下称“南沙金融15条”）。南沙金融15条框架性地明确南沙未来金融发展方向，其亮点包括支持探索开展人民币资本项目可兑换先行试验，统一内、外资的融资租赁市场准入标准等[8]。南沙金融15条的出台可以看作是中国（广东）自由贸易试验区迈出实质化的一步。中国（广东）自由贸易试验区金融改革的具体实施方案及成效值得关注。
In addition, we noted that, prior to the approval of the China (Guangdong) FTZ,the State Council passed the Opinions on Supporting Guangzhou Nansha New District to Deepen the Financial Cooperation among Guangdong, Hong Kong, Macauand Taiwan and to Explore Innovation in Financial Reform (the “Nansha 15 Financial Clauses”). The Nansha 15 Financial Clauses form a framework for the future development of the financial sector in Nansha, with the following highlights: first, to support the exploration of RMB account convertibility; and second, to support the unification of market access conditions for domestic and foreign-invested finance lease markets. [8] The Nansha 15 Financial Clauses can be considered a meaningful and substantial step of the China (Guangdong) FTZ. The detailed implementation plan and effect of the financial reform in China (Guangdong) FTZ are worthy of attention.
[1] http://www.gov.cn/zhengce/content/2014-12/20/content9309.htm
[2] http://www.gov.cn/xinwen/2014-12/20/content2794475.htm
[3] http://www.mofcom.gov.cn/article/b/c/201205/20120508134325.shtml
[4] http://www.mofcom.gov.cn/article/difang/yunnan/201404/20140400550650.shtml
[5] http://politics.people.com.cn/n/2014/1213/c1024-26200065.html
[6] http://legal.people.com.cn/n/2014/1229/c188502-26291171.html
[7] http://cpc.people.com.cn/n/2014/1227/c87228-26284529.html
[8] http://www.gzns.gov.cn/new/nsxx/mtkns/201412/t20141217_144091.htm