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Greater China Practice - Guiding Opinion on Issues relating to the Dissolution and Liquidation of Foreign-invested Enterprises (FIEs) - Ministry of Commerce - 关于依法做好外商投资企业解散和清算工作的指导意见 - 商务部
September 19, 2008
Released on August 28, 2008, and effective on May 5, 2008
This guiding opinion affects various types of Foreign-invested Enterprises (FIEs), including Cooperative Joint Ventures (CJV), Equity Joint Ventures (EJV) and Wholly Foreign-Owned Enterprises (WFOE). It specifies that FIEs are required to submit different application documents to respective approval authorities when the dissolution circumstances stipulated under EJV, CJV or WFOE laws obtain. The authorities are to rule on dissolution applications within 10 working days; if the application is approved, the enterprise shall organize a liquidation group within 15 days to manage the liquidation process. Once the liquidation is completed, the liquidation group should submit reports to the responsible authorities and make appropriate arrangements to deregister relevant licenses in respective bureaus (such as tax, foreign exchange and customs bureaus).