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Formation of New Ventures

The general procedure for forming a new venture in China is as follows:

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Letter of intent

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Local partner submits a project proposal to its superior organization

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Due diligence

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Local approval of the venture

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Feasibility study

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Joint venture agreement

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Articles of Association

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Submit feasibility study to MOFTEC

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Finalize contract

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Final approval my MOFTEC

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MOFTEC issues approval certificates

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SAIC issues business

 

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