Foreign-funded financial institutions refer to branches of foreign financial institutions engaged in financial business established in China, wholly foreign-owned financial institutions with legal personality in China and Sino-foreign joint venture financial institutions. It is a foreign-funded enterprise in the financial field. Compared with ordinary foreign-invested enterprises, the main difference is that most foreign-funded financial institutions are established in the form of branches of foreign financial institutions in China (such as branches of foreign banks and branches of foreign insurance companies), and they do not have legal person status in China. At present, foreign financial institutions established in China include foreign banks, foreign financial companies and foreign insurance companies. At present, the business of foreign banks and foreign financial companies in China is limited to foreign exchange finance business, mainly including foreign exchange deposits, foreign exchange loans, settlement and sale of foreign exchange, and approved foreign exchange investment. Its main business targets are foreign-invested enterprises, foreign companies and foreigners. A foreign financial institution applying for the establishment of a foreign-funded financial institution must have a certain scale of total assets, and its host country must have strict financial supervision and set up a representative office in China for more than two years. To establish a foreign-funded financial institution, an application shall be filed in accordance with relevant laws and regulations and submitted to the competent financial department of the state for approval.
Joint/cooperative/collaborative development
Cooperative development is the abbreviation of cooperative exploration and development of offshore and onshore oil. It is a widely used way of economic cooperation in the field of natural resources in the world at present, and its biggest feature is high risk, high investment and high income. China has adopted this approach in its foreign cooperation in the field of oil resources development. On 1982 and 10, respectively, China promulgated the Regulations of People's Republic of China (PRC) on Foreign Cooperation in Exploitation of Offshore Petroleum Resources and the Regulations of People's Republic of China (PRC) on Foreign Cooperation in Exploitation of Onshore Petroleum Resources (revised on September 5438+0, 2006).
Cooperative development generally adopts international bidding, and foreign companies can participate in bidding individually or collectively. The winning bidder signs a contract with China for oil cooperative exploration and development, and defines the rights and obligations of both parties. The contract term is generally not more than 30 years. This contract shall come into effect after being approved by the Ministry of Foreign Economic Relations and Trade. Cooperative development is generally divided into three stages: exploration, development and production. In the exploration stage, the foreign party shall bear all the exploration expenses and all the risks in the exploration stage. If no oil and gas fields with development value are found in the area specified in the contract during the exploration period, the contract will be terminated and China will not be liable for any compensation. If an oil and gas field with development value is found in the contract area, and the contract enters the development stage, China can participate in the development together with the foreign party, and the investment ratio agreed by both parties is the same, but the Chinese shareholding ratio generally does not exceed 565,438+0%. After the oilfield is put into commercial production, the relevant taxes and royalties must be paid in accordance with government regulations, and then the Chinese and foreign parties will recover the investment and distribute the profits in kind according to the oil sharing ratio determined in the contract. If the income is not enough to recover all the investment and obtain corresponding profits, each party shall bear its own risks.
China's foreign cooperation in oil exploitation is under the unified responsibility of China Offshore Oil Corporation and China Petroleum and Natural Gas Corporation.
BOT investment model
BOT is the abbreviation of English BUILD-OPERATE-TRANSFER, that is, "build-operate-transfer". The typical form of BOT is that the government signs contracts with private sector (foreign investment in China) project companies, which raise funds to build infrastructure projects. The project company will own, operate and maintain the facility during the agreement period, and recover the investment and obtain reasonable profits by collecting the use fee or service fee. After the expiration of the agreement, the ownership of the facility will be transferred to the government free of charge. BOT is mainly used to develop infrastructure projects such as toll roads, power plants, railways, sewage treatment facilities and urban subways. In the process of practical application, BOT has evolved into dozens of similar forms.
In BOT mode, the project company consists of one or more investors, usually including engineering contracting companies and equipment suppliers. The project company is established in the form of equity investment, and can also raise funds by issuing stocks and absorbing a small amount of government funds to become shareholders. Most of the funds needed for BOT projects are obtained from commercial financial channels through the project company, and the loan form is non-recourse or limited recourse project loans.
BOT projects vary widely, but the completion of each project generally goes through the following stages: project determination, preparation, bidding, contract negotiation, construction, operation and property right transfer. The establishment of BOT projects shall be examined and approved according to the current procedures for the establishment of foreign-invested enterprises.
Three to one supplement
Three to one supplement refers to processing with supplied materials, processing with supplied samples, assembling with supplied parts and compensation trade. Processing with supplied materials, sample processing and assembly with supplied parts belong to the category of processing trade.
Processing with materials means that foreign businessmen provide raw materials, auxiliary materials and packaging materials, and put forward requirements for the quality, specifications and styles of finished products, which are produced by domestic enterprises as required, and the finished products are handed over to the other party for processing fees; Sample processing means that foreign businessmen provide sample styles and specifications, domestic enterprises produce according to the requirements, and the finished products are handed over to the other party for processing fees; Assembly with supplied materials means that foreign businessmen provide parts and components needed for assembly, and provide technology or equipment when necessary. Domestic enterprises assemble as required, and the finished products are handed over to the other party for processing fees. Foreign processing trade is one of the earliest ways of foreign economic cooperation in China. 1978 started in Guangdong province, and is still mainly concentrated in Guangdong province and other coastal areas. Many of the commodities exported by Guangdong Province exceed US$ 100 million are developed through external processing and assembly. Foreign processing and assembly contracts can only take effect after being approved by relevant government departments. The state implements preferential policies for foreign processing and assembly business in terms of taxation, customs supervision and import and export management.
Compensation trade is a form of utilizing foreign capital by combining technology trade, commodity trade and credit. Its basic meaning means that machinery and equipment are provided by foreign investors directly or by way of credit to enterprises in China, and products produced by China enterprises with this equipment and technology will repay the price and interest of imported equipment and technology in installments. The main forms of compensation trade include direct compensation, indirect compensation, comprehensive compensation and labor compensation. Direct compensation refers to the repayment of the price and interest of equipment and technology provided abroad by products directly produced by equipment and technology provided abroad, which is the most basic form of compensation trade. Indirect compensation, that is, the products sold back are not produced with the equipment and technology provided by foreign investors, but are repaid with other products of the enterprise. Comprehensive compensation refers to the equipment and technology provided to foreign investors, some of which are directly repaid by products produced by these machines, equipment and technologies, and some of which are indirectly repaid by other products of the enterprise. Labor compensation means that the compensation is not the product, but the labor cost of processing and assembling foreign materials. Machinery, equipment and spare parts needed for compensation trade shall be exempted from import duties and value-added tax. The compensation trade contract is not an ordinary trade contract, and it can only take effect after being reported to the relevant departments for approval according to the prescribed procedures.
International leasing
Lease means that the lessor leases the machinery and equipment to the lessee for a long time by signing a lease contract, and the lessee uses it for production and business activities. During the lease period, the lessor enjoys the ownership of the leased property, and the lessee enjoys the right to use the leased property, and pays rent to the lessor regularly. After the lease expires, the leased property shall be disposed of in the manner agreed by both parties. International leasing in China is mainly carried out through two channels. One is to lease imported equipment through foreign leasing companies. At present, the leased goods are mainly civil aircraft. The second is to lease imported equipment through domestic leasing companies.
Leasing business mainly includes financial leasing and operating leasing. In financial leasing, the lessor is responsible for raising funds. According to the lease agreement reached with the lessee and the equipment specifications and technical requirements put forward by the lessee, the lessor purchases the equipment from the goods manufacturer selected by the lessee, obtains the ownership of the equipment, and grants it to the lessee for use. After the lease expires, the lessee pays all the rent and nominal residual cost, and after handling the ownership transfer formalities, the leased equipment will be transferred to the lessee. International leasing generally adopts financial leasing. Operating lease is also called service lease. It is a short-term lease in which the lessor provides the lessee with services such as equipment and its maintenance, and the ownership of the equipment is generally not transferred. The leased property for operating lease is mainly construction machinery. The rent is higher than the financial lease, and the lease term is shorter. After a certain notice period, the contract can be terminated halfway.
Whether it is an international lease provided by a foreign leasing company or a domestic leasing company, the funds for purchasing the leased property come from loans from foreign commercial banks, and the domestic leasing company does not directly assume the responsibility of borrowing and repayment. Since the reform and opening up, the leasing industry in Chinese mainland has developed to some extent. Up to now, China has approved the establishment of 35 foreign leasing companies, which are no longer the main body providing international leasing business to domestic enterprises.