为正确审理外商投资企业在设立、变更等过程中产生的纠纷案件，保护当事人的合法权益，根据《中华人民共和国民法通则》、《中华人民共和国合同法》、《中华人民共和国物权法》、《中华人民共和国公司法》、《中华人民共和国中外合资经营企业法》、《中华人民共和国中外合作经营企业法》、《中华人民共和国外资企业法》等法律法规的规定，结合审判实践，制定本规定。

These Regulations are formulated in order to ensure correct trials in dispute cases arising from the establishment or change of a foreign-invested enterprise and to protect the legitimate rights and interests of the parties concerned pursuant to the General Principles of the Civil Law of the People’s Republic of China, the Contract Law of the People’s Republic of China, the Property Law of the People’s Republic of China, the Company Law of the People’s Republic of China, the Law of the People’s Republic of China on Sino-Foreign Equity Joint Ventures, the Law of the People’s Republic of China on Sino-Foreign Cooperative Joint Ventures, the Law of the People’s Republic of China on Foreign Invested Enterprises, and other laws and regulations as well as trial practice.

第一条（须报批合同的效力） 外商投资企业在设立、变更等过程中订立的相关合同，依法律、行政法规的规定经外商投资企业审批机关批准后生效；未经批准的，人民法院应当认定该合同未生效。

当事人之间就相关合同中的部分条款达成补充协议而未办理报批手续的，如果该部分内容并不构成对已得到外商投资企业审批机关批准合同内容的重大或实质性变更，人民法院不应以该补充协议未经批准为由认定其未生效。

前款规定的重大或实质性变更包括注册资本、公司类型、经营范围、营业期限、股东认缴的出资额、出资方式、公司合并、公司分立等方面的变更以及跨审批机关管辖的地址变更、股权转让等。

Article 1 (The validity of the contract is subject to approval.)  Contracts made by a foreign-invested enterprise during the course of its establishment or change shall come into force upon the approval of the competent examination and approval authority for foreign-invested enterprises, in accordance with laws or administrative regulations; contracts that have not been approved thereby shall be deemed invalid by the people’s court.

Where the submission and approval procedure has not been undertaken concerning certain provisions of a supplementary agreement with respect to relevant contracts reached by the parties, and if such provisions do not constitute a material or substantial change to the content of the contract already approved by the competent examination and approval authority for foreign-invested enterprises, the people’s court shall not hold such a supplementary agreement invalid on grounds that it has not yet been approved.

Material or substantial changes as specified in the preceding paragraph include a change of registered capital, type of company, business scope, business term, capital contribution made by shareholders or capital contribution method; merger or separation of a company; as well as a change of address and transfer of equity under the jurisdiction of other examination and approval authorities.

第二条（已获批准的合同未必有效） 依法律、行政法规的规定批准后生效的合同虽然经过有关外商投资企业审批机关批准，但如果具有《中华人民共和国合同法》第五十二条或者第五十四条规定的情形的，人民法院仍应当认定该合同无效或者可撤销。相关合同被认定无效或被撤销的，人民法院应当根据《中华人民共和国合同法》第五十八条的规定，对由此产生的法律后果及各方当事人应承担的民事责任予以认定。

Article 2 (Contracts already approved may not be valid.)  Although a contract may come into force upon the approval of a competent examination and approval authority for foreign-invested enterprises pursuant to laws and administrative regulations, the people’s court shall nonetheless deem such a contract invalid or cancellable under circumstances as prescribed in Article 52 or Article 54 of the Contract Law of the People’s Republic of China.  Where a relevant contract is deemed invalid or cancellable, the people’s court shall determine the legal consequences and civil liabilities to be borne by the parties concerned, in accordance with Article 58 of the Contract Law of the People’s Republic of China.

第三条（出资或者提供合作条件违约的处理） 中外合资经营企业合同、中外合作经营企业合同中约定一方合资者或者合作者以需要办理权属变更登记手续的土地、建筑物等出资或者提供合作条件而未办理权属变更登记手续的，人民法院应当认定构成违约。

作为该出资或提供合作条件的标的物已交付外商投资企业实际使用，且能够补办权属变更登记手续，人民法院可以根据当事人的诉讼请求判令该出资方或合作方办理权属变更登记手续，但不应同时认定该出资方或合作方未履行出资或提供合作条件义务。

作为该出资或提供合作条件的标的物未交付外商投资企业实际使用或者虽实际交付使用但不能办理权属变更登记手续，人民法院应认定该出资方或合作方未履行出资或提供合作条件义务，并根据当事人的诉讼请求判令其承担赔偿损失等违约责任。

Article 3 (Dealing with a breach in connection with capital contribution or provision of cooperation condition.)  If a Sino-foreign equity joint venture contract or a Sino-foreign cooperation joint venture contract specifies that the capital contribution or provision of cooperation condition is subject to the registration of a change of ownership of any land or building to be handled by a party to the contract, and such party fails to do so, the people’s court shall hold that there has been a breach of contract.

If the subject matter of such capital contribution or provision of cooperation condition has already been delivered to and actually used by the foreign-invested enterprise, and the formalities regarding the registration of change of ownership can still be undertaken, the people’s court may, according to the litigation brought by the party concerned, order the capital-contribution party or cooperation party to go through the formalities for the registration of change of ownership, provided that the court shall not also hold that the capital-contribution party or cooperation party has failed to perform its obligation under the capital contribution or provision of cooperation condition.

With regard to the subject matter of the capital contribution or provision of cooperation condition that has not been delivered to and actually used by the foreign-invested enterprise, or that has been actually delivered but the registration of change of ownership thereof cannot be handled, the people’s court shall hold that the capital-contribution party or cooperation party has failed to perform its obligation under the capital contribution or provision of cooperation condition, and shall, according to the litigation brought by the party concerned, order such capital-contribution party or cooperation party to assume damages and bear any other liability for breach of contract.

第四条（未经审批的外商投资企业股权转让合同的处理） 外商投资企业股权转让合同成立后，未报经外商投资企业审批机关批准，受让方请求转让方履行报批义务的，人民法院应当追加外商投资企业为第三人，并判令转让方与该外商投资企业在一定期限内共同办理报批手续。

负有报批义务的当事人不履行报批义务或迟延履行报批义务，受让方另行起诉要求解除合同并返还已支付的转让款或者赔偿损失的，人民法院应予支持。赔偿损失的范围包括股权转让合同订立时与提起诉讼期间的股权转让款的差价、转让方的股权收益以及受让方的其他合理损失。

（第二种意见：负有报批义务的一方当事人于判决书确定的期限内不履行报批义务的，人民法院可以根据案件的具体情况以及当事人的请求，判令主张办理报批手续的一方当事人依据判决书自行向外商投资企业审批机关申请办理报批手续，并由怠于履行报批义务的一方当事人承担由此产生的费用。）

Article 4 (Dealing with a foreign-invested enterprise equity transfer contract that has not been approved.)  After a foreign-invested enterprise equity transfer contract is concluded, if such contract has not been submitted to the competent authority for foreign-invested enterprises for approval, and the transferee requires the transferor to perform the obligation of submitting the contract for approval, the people’s court shall consider the foreign-invested enterprise as a third party [in the concerned lawsuit], and order the transferor and such foreign-invested enterprise to jointly undertake the submission and approval procedure within a specified time limit.

If the party that is obliged to go through the submission and approval procedure fails or delays to do so, and the transferee brings legal action demanding the cancellation of the contract and return of the transfer proceeds already paid or compensation for losses, the people’s court shall provide support.  The scope of compensation covers the difference between the amount of equity transfer proceeds determined at the conclusion of the contract and the amount thereof at the time during the litigation, the transferor’s return on equity, and other reasonable losses suffered by the transferee.

(Another opinion is that, if the party that is obliged to undertake the submission and approval procedure fails to do so within the time limit specified in the judgment, the people’s court may, according to the specific circumstance of the case and at the request of the party concerned, order the party that demands to go through such procedure to, pursuant to the judgment, go through such procedure by itself with the competent examination and approval authority for foreign-invested enterprises at the expense of the party that has failed to perform the obligation of submitting the contract for approval.)

第五条（外商投资企业股权转让合同补办报批手续未获批准的处理） 当事人根据本规定第四条第一款的规定就外商投资企业股权转让合同办理报批手续，未获外商投资企业审批机关批准，受让方另行起诉要求转让方返还已支付的转让款的，人民法院应予支持；当事人请求赔偿因此造成的损失的，人民法院应当根据当事人是否存在过错以及过错大小判令其承担相应的损害赔偿责任。

Article 5 (Dealing with the circumstance that approval is not obtained for the foreign-invested enterprise equity transfer contract after the relevant procedure has been undertaken.)  Where the party concerned has submitted the foreign-invested enterprise equity transfer contract for approval in accordance with Paragraph 1 of Article 4 hereof, if the approval is not obtained from the competent examination and approval authority, and the transferee brings legal action demanding the transferor to return the transfer proceeds already paid, the people’s court shall support the demand; if the party concerned demands compensation for the losses it suffers arising therefrom, the people’s court shall order the other party concerned to bear liability for compensation based on whether such party has any fault and the degree of such fault.

第六条（未经批准的外商投资企业股权转让合同的解除） 因转让方的过错不能履行报批手续，导致外商投资企业股权转让合同未获外商投资企业审批机关批准，受让方请求解除合同并返还已支付的转让款或者赔偿损失的，人民法院应予支持。赔偿损失的范围包括股权转让合同订立时与提起诉讼期间的股权转让款的差价、转让方的股权收益以及受让方的其他合理损失。

Article 6 (Cancellation of foreign invested enterprise equity transfer contract that has not been approved.)  Where the submission and approval procedure cannot be undertaken due to the fault of the transferor, causing the foreign-invested enterprise equity transfer contract to fail to be approved by the competent examination and approval authority for foreign-invested enterprises, and the transferee requests the cancellation of the contract and return of the transfer proceeds already paid or compensation for losses, the people’s court shall support such request.  The scope of compensation covers the difference between the amount of equity transfer proceeds determined at the conclusion of the contract and the amount thereof at the time during the litigation, the transferor’s return on equity, and other reasonable losses suffered by the transferee.

第七条（外商投资企业股权转让合同受让方违约的处理） 外商投资企业股权转让合同成立后，未报经外商投资企业审批机关批准，受让方已实际行使股东权利但未支付转让款，转让方请求受让方支付转让款的，人民法院应当中止审理，限定转让方在一定期限内向外商投资企业审批机关办理报批手续，在外商投资企业审批机关作出审批结论后恢复审理。该股权转让合同获得外商投资企业审批机关批准的，对转让方的诉讼请求，人民法院应予支持；未获得批准的，人民法院应当判决驳回转让方的诉讼请求。

Article 7 (Dealing with the transferee’s breach of a foreign-invested enterprise equity transfer contract.)  After the foreign-invested enterprise equity transfer contract is concluded but has not yet been approved by the competent examination and approval authority for foreign-invested enterprises, if the transferee has actually exercised its shareholder rights but has not paid the transfer proceeds, and the transferor requests the transferee to pay the transfer proceeds, the people’s court shall suspend the trial and require the transferor to undertake the submission and approval procedure with the competent examination and approval authority for foreign-invested enterprises within a specified time limit.  The court shall resume the trial after the competent examination and approval authority for foreign-invested enterprises has made an examination and approval decision.  If the competent examination and approval authority for foreign-invested enterprises has approved such equity transfer contract, the people’s court shall support the transferor’s legal action; if the competent examination and approval authority for foreign-invested enterprises has not approved such equity transfer contract, the people’s court shall dismiss the transferor’s legal action.

第八条（中外合资经营企业股权转让股东优先购买权） 中外合资经营企业一方股东将股权全部或部分转让给股东之外的第三方时，股权转让合同虽然经过外商投资企业审批机关批准，但其他股东以该股权转让没有保护其股东优先购买权为由请求撤销转让方与受让方签订的该股权转让合同的，人民法院应予支持。其他股东在外商投资企业合同、章程或法律、行政法规规定的期限内未主张优先购买权的除外。

转让方、受让方以未保护上述股东优先购买权为由请求认定股权转让合同无效的，人民法院不予支持。

Article 8 (Right of first refusal in connection with a Sino-foreign equity joint venture equity transfer.)  Where a shareholder of a Sino-foreign equity joint venture intends to transfer all or part of its equity to a third party other than the shareholders, and where such equity transfer contract has been approved by the competent examination and approval authority for foreign-invested enterprises, if other shareholders request the cancellation of such equity transfer contract entered into by and between the transferor and transferee on grounds that such equity transfer fails to protect their right of first refusal, the people’s court shall support such request (with the exception of the shareholder who fails to claim the right of first refusal within the time limit specified in the foreign invested contract, its articles of association, or laws or administrative

regulations).

Where the transferor or transferee asks the court to hold the equity transfer contract invalid on grounds that it fails to protect the foregoing shareholders’ first right of refusal, the people’s court shall not provide support.

第九条（未经审批的外商投资企业股权质押合同的处理） 外商投资企业股东与债权人订立的股权质押合同，除法律、行政法规另有规定或者合同另有约定外，自合同成立时生效；未办理质权登记的，不影响合同效力。

当事人仅以股权质押合同未经外商投资企业审批机关批准为由主张合同无效或未生效的，人民法院不予支持。

股权质押合同依照物权法的相关规定办理了出质登记的，股权质权自登记时设立。

Article 9 (Dealing with a foreign-invested enterprise equity pledge contract that has not been approved.)  The equity pledge contract concluded by the shareholder(s) and creditor(s) of the foreign invested enterprise shall come into force as of the conclusion thereof unless otherwise specified by laws or administrative regulations or otherwise agreed upon in the contract; the validity of the contract shall not be affected if the pledge registration has not been undertaken.

Where the party concerned claims that the equity pledge contract is invalid or unenforceable on grounds that such contract has not been approved by the competent examination and approval authority on foreign-invested enterprises, the people’s court shall not provide support.

Where the pledge registration has been conducted for the equity pledge contract pursuant to the relevant provisions of the Property Law, the pledge rights on the equity rights shall be set up at the time of registration.

第十条（委托投资法律关系的处理） 当事人之间约定一方实际投资并享有股东权益，另一方作为外商投资企业名义股东的，在无规避或违反我国法律、行政法规强制性规定以及社会公共利益的情况下，应认定该协议有效。

作为委托人的实际投资者请求确认其在外商投资企业中的股东身份或者请求变更外商投资企业股东的，人民法院不予支持。该实际投资者在一审法庭辩论终结前获得外商投资企业审批机关将其变更为外商投资企业股东的批准的除外。

实际投资者请求作为受托人的外商投资企业名义股东依据双方约定履行相应义务的，人民法院应予支持。

当事人之间在委托投资协议中未约定利益分配，实际投资者请求判令外商投资企业名义股东向其交付从外商投资企业获得的收益的，人民法院应予支持；该名义股东向实际投资者请求支付必要报酬的，人民法院应当酌情予以支持。

Article 10 (Dealing with legal relationships in an investment by trust.)  If the parties concerned enter into an agreement under which one party thereto is the actual investor who is entitled to the shareholder’s rights and interests and the other party thereto acts as the nominal shareholder of the foreign-invested enterprise, such agreement shall be held valid under the circumstances that it does not violate China’s laws and mandatory provisions of administrative regulations, or harm social public interests.

If the actual investor who acts as the trustor requests acknowledgement of its shareholder qualification, or seeks to change itself into the shareholder of the foreign-invested enterprise, the people’s court shall not support such request, unless such actual investor obtains approval for changing into the shareholder of the foreign-invested enterprise from the competent examination and approval authority for foreign-invested enterprises prior to the completion of the court debate in the trial of first instance.

Where the actual investor request that the nominal shareholder of the foreign-invested enterprise act as the trustee to perform relevant obligations is agreed by both parties, the people’s court shall support such request.

Where the parties concerned have not reached an agreement on the benefit allocation in the trust investment agreement, if the actual investor asks the court to order the nominal shareholder of the foreign invested enterprise to pay the benefit it obtains from the foreign-invested enterprise, the people’s court shall support such request; if such nominal shareholder asks the actual investor to pay necessary remuneration, the people’s court shall support such request at its discretion.

第十一条（解除委托投资协议） 第十条所述外商投资企业名义股东不履行其与实际投资人之间的协议，致使实际投资人不能实现协议目的，实际投资人请求解除协议、返还投资款并赔偿损失的，人民法院应予支持。

Article 11 (Cancellation of a trust investment agreement.)  Where a nominal shareholder of the foreign invested enterprise as mentioned in Article 10 fails to perform the agreement entered into by it and the actual investor, causing the actual investor to be unable to fulfill the purpose of the agreement, and if the actual investor requests the cancellation of the agreement, return of investment proceeds and compensation for losses, the people’s court shall support such request.

第十二条（实际投资者向外商投资企业提出请求） 实际投资者根据其与外商投资企业名义股东之间的协议，向外商投资企业请求分配利润或者行使其他股东权利的，人民法院不予支持。

Article 12 (Request of an actual investor brought to a foreign-invested enterprise.)  If the actual investor asks the foreign-invested enterprise to distribute profits or exercises other shareholder’s rights pursuant to the agreement entered into by the actual investor and the nominal shareholder of the foreign-invested enterprise, the people’s court shall not support such request.

第十三条（委托投资协议无效的法律后果） 委托投资协议被认定无效，外商投资企业名义股东名下的股权价值高于实际投资额的，人民法院应当判令外商投资企业名义股东向实际投资人返还投资款，并根据实际投资人的实际投资情况、名义股东参与外商投资企业经营管理的情况对股权收益在双方之间进行合理分配；外商投资企业名义股东名下的股权价值低于实际投资额的，人民法院不应判令外商投资企业名义股东向实际投资人返还投资款，而应根据现有股权的价值确定损失额后，根据当事人过错大小判令双方分担损失。

Article 13 (Legal consequence of an invalid trust investment agreement.)  Where the trust investment agreement is adjudicated invalid, and the value of the equity under the name of the nominal shareholder of the foreign-invested enterprise is higher than the actual investment amount, the people’s court shall order the nominal shareholder of the foreign-invested enterprise to return the investment proceeds to the actual investor, and shall conduct reasonable distribution of the return on equity between the two parties in accordance with the actual investment of the actual investor as well as the operation and management of the foreign-invested enterprise carried out by the nominal investor; if the value of the equity under the name of the nominal shareholder of the foreign-invested enterprise is less than the actual investment amount, the people’s court shall not order the nominal shareholder of the foreign-invested enterprise to return the investment proceeds to the actual investor.  Instead, the court shall, after determining the loss predicated on the current value of the equity, order the two parties to share the loss according to the degree of fault of the parties concerned.

第十四条（借名投资法律关系的处理） 实际投资人借用他人名义进行投资，请求外商投资企业向外商投资企业审批机关办理股东变更报批手续，如果其实际参与了该外商投资企业的经营管理或者该外商投资企业其他股东明知其系实际投资者的，人民法院应予支持。

作为被借名人的外商投资企业的名义股东并未进行实际投资，其向外商投资企业请求行使股东权利的，人民法院不予支持。

Article 14 (Dealing with legal relationships in an investment under the other party’s name.)  Where the actual investor uses the other party’s name to invest and asks the foreign-invested enterprise to undertake the submission and approval procedure for a change of shareholder with the competent examination and approval authority for foreign-invested enterprises, and if such an actual investor has actually participated in the operation and management of such foreign-invested enterprise or the other shareholders of such foreign-invested enterprise know that it is the actual investor, the people’s court shall support such request.

If the nominal shareholder of the foreign invested enterprise whose name is being used has not conducted any actual investment and seeks to exercise shareholder’s rights with the foreign invested enterprise, the people’s court shall not support such request.

第十五条（因虚假报批材料未获得股东地位纠纷的处理） 一方当事人以向外商投资企业审批机关提供虚假材料等欺诈或者其他不正当手段获得外商投资企业的股东身份而导致另一方当事人因此未获得相应股东身份，该另一方当事人请求人民法院确认侵权事实并请求侵权人赔偿损失的，人民法院应予支持。

    该另一方当事人请求人民法院直接确认其在外商投资企业中的股东身份的，人民法院可以判令侵权人和外商投资企业在一定期限内向外商投资企业审批机关办理股东变更报批手续。

Article 15 (Dealing with disputes regarding failure to obtain shareholder qualification due to submission of false materials.)  If one party obtains the shareholder qualification under false pretenses such as submitting false materials to the competent examination and approval authority for foreign-invested enterprises or by any other improper means, causing the other party concerned to fail to obtain the corresponding shareholder qualification, and the other party concerned thereby requests the people’s court to affirm the infringement and to require the infringing party to compensate for losses, the people’s court shall support such request.

If said party concerned requests the people’s court to directly acknowledge its shareholder qualification in the foreign-invested enterprise, the people’s court may order the infringing party and the foreign-invested enterprise to undertake the submission and approval procedure for change of shareholder with the competent examination and approval authority for foreign-invested enterprises within a specified time limit.

第十六条（因虚假报批材料丧失股东地位纠纷的处理）外商投资企业以提供虚假材料等欺诈或者其他不正当手段向外商投资企业审批机关申请变更外商投资企业批准证书所载股东，导致原股东丧失股东身份，原股东请求确认其股东身份并要求赔偿损失的，人民法院应予支持。

上述情形系由外商投资企业的控股股东或董事的过错造成的，原股东请求该控股股东或董事承担相应赔偿责任的，人民法院应予支持。

Article 16 (Dealing with disputes regarding loss of shareholder qualification due to submission of false materials.)  Where the foreign-invested enterprise applies for a change in the shareholder specified on the certificate of approval for establishment of enterprises with foreign investment under false pretenses, such as submitting false materials to the competent examination and approval authority for foreign-invested enterprises or by any other improper means, causing the original shareholder to lose shareholder qualification, and the original shareholder seeks acknowledgement of its shareholder qualification and compensation for losses, the people’s court shall support such a request.

If the foregoing circumstance is due to the fault of the controlling shareholder or director of the foreign-invested enterprise, and the original shareholder requests such controlling shareholder or director to bear corresponding liability for compensation, the people’s court shall support such request.

 第十七条（两个以上外国投资者共同设立外资企业合同法律适用） 因两个或者两个以上外国投资者在中华人民共和国境内共同设立外资企业所订立合同产生的纠纷，应当适用中华人民共和国法律。当事人选择适用外国法的条款无效。

Article 17 (Governing laws on a foreign-invested enterprise established jointly by two or more foreign investors.)  Disputes arising from a contract concluded by two or more foreign investors to establish a foreign-invested enterprise within the territory of the People’s Republic of China shall be governed by the laws of China.  Provisions governed by foreign laws as selected by the parties concerned shall be void.

第十八条（港、澳、台、侨投资企业参照适用） 人民法院审理台湾地区、香港特别行政区、澳门特别行政区的投资者、定居在国外的中国公民（华侨）投资设立企业产生的相关纠纷案件，参照适用本规定。

Article 18 (Applicable to investment enterprises from Hong Kong, Macao and Taiwan, and enterprises established by overseas Chinese.)  Where a people’s court tries any relevant dispute case arising from enterprises established by investors from Taiwan, Hong Kong and Macao, or Chinese citizens residing abroad, the Regulations shall be applicable.

第十九条（本规定的溯及力） 本规定适用于施行后尚未终审的案件；本规定施行前已经终审，当事人申请再审或者按照审判监督程序决定再审的，不适用本规定。

Article 19 (Retroactivity of these Regulations.)  These Regulations apply to cases in which no final adjudication is made prior to the implementation hereof; for cases in which final adjudication is made prior to the implementation hereof, and an application for retrial is filed by the parties concerned or a decision to retry is made pursuant to the procedure for supervision upon adjudication, these Regulations are not applicable.