Legal basis: Article 19 of the Regulations for the Implementation of the Law on Chinese-foreign Joint Ventures stipulates that a joint venture shall not reduce its registered capital during the joint venture period. If it is really necessary to reduce the total investment and the scale of production and operation due to changes, it must be approved by the examination and approval authority. Article 20. If a party to a joint venture transfers all or part of its equity to a third party, it must obtain the consent of the other party to the joint venture, report it to the examination and approval authority for approval, and go through the formalities of change registration with the registration authority.