2. An existing foreign-invested joint-stock company applying for listing and issuing A shares or B shares shall obtain the written consent of the Ministry of Foreign Trade and Economic Cooperation and meet the following conditions:
(1) Foreign-invested joint-stock companies applying for listing and after listing shall conform to the industrial policies for foreign investment.
(2) A foreign-invested joint-stock company applying for listing shall be an enterprise established or restructured according to regulations and procedures.
(3) The proportion of unlisted foreign shares of a foreign-invested joint-stock company after listing shall not be less than 25% of the total share capital.
(4) Other conditions that meet the requirements of relevant laws and regulations of listed companies.
3. A B-share company, which was a Sino-foreign joint venture before listing, should apply for the listing and circulation of its unlisted foreign shares, and submit an application plan for the listing and circulation of unlisted foreign shares to the China Securities Regulatory Commission after obtaining the written consent of the Ministry of Foreign Trade and Economic Cooperation. To apply for the listing and circulation of unlisted foreign shares, the following conditions shall be met:
(1) After the B-share conversion, the proportion of unlisted foreign shares in the total share capital of the foreign-invested joint-stock company shall not be less than 25%;
(2) The unlisted foreign shares to be listed and circulated have lasted for more than one year;
(3) After the unlisted foreign shares are converted into tradable shares, their heirs can perform the obligations and responsibilities of the original holders of unlisted foreign shares as stipulated in the articles of association;
(4) Other conditions that meet the requirements of relevant laws and regulations of listed companies.
Unlisted foreign shares held by foreign-invested companies shall not be converted into tradable shares temporarily.
Extended data:
Sino-foreign joint ventures need to follow the following principles
1, the principle of national sovereignty
Namely, the principle of inviolability of national jurisdiction. The establishment, operation and termination of the enterprise; We must abide by China's legal concept.
2, the principle of protecting the legitimate rights and interests of investors
Foreign capital, industrial property rights and personal rights are inviolable; According to the law, the profits are remitted abroad.
3, the principle of equality and mutual benefit
Mainly reflected in the settlement of the investment relationship between the two parties, whether to follow the rules stipulated in the contract and articles of association to deal with the problem.
4. The principle of reasonable profit.
Reasonable concessions are mainly made by the government in the development of joint ventures. A supportive policy adopted in a specific era, such as investment preference, tax reduction and exemption, raw material import, product export, foreign exchange use, etc.
5. Follow the principles of international rules.
Such as organizational form, management mode, corporate finance, etc.
Ministry of Commerce of People's Republic of China (PRC)-Notice on Relevant Issues Concerning Foreign-invested Joint-stock Companies