Legal basis: Law of People's Republic of China (PRC) on Sino-foreign Joint Ventures.
Article 1 In order to expand international economic cooperation and technical exchanges, with the approval of the China Municipal Government, People's Republic of China (PRC) allows foreign companies, enterprises and other economic organizations or individuals (hereinafter referred to as foreign parties) to establish joint ventures with companies, enterprises or other economic organizations in China (hereinafter referred to as Chinese parties) in People's Republic of China (PRC).
Article 2 The China Municipal Government shall protect the investment, profits and other legitimate rights and interests of foreign parties in accordance with the agreements, contracts and articles of association approved by the China Municipal Government.
All activities of a joint venture shall abide by the laws and regulations of People's Republic of China (PRC).
The state does not nationalize or expropriate joint ventures; Under special circumstances, according to the needs of social public interests, a joint venture may be expropriated in accordance with legal procedures and given corresponding compensation.