《Management Regulations of Foreign Investors distributing Books, Newspapers and Periodicals》has been worked out according to law by Press and Publishing Administration and the Ministry of Foreign Trade and Economic Cooperation of the People’s Republic of China and will take effect as of May 1,2003.
The regulations aimed at developing foreign exchange and cooperation and improving the management of related enterprises. It is suited to foreign enterprises investing in distribution of books, newspapers and periodicals in China.
A wholesale enterprise of distributing books, newspapers and periodicals should have business area no less than 50 square meters, business area of independent place no less than 500 square meters, registered fund no less than 30 million RMB. A retail enterprise should have registered fund no less than 5 million RMB. Both wholesale and retail enterprises should also have the ability of distributing books, newspapers and periodicals, non-illegal record, occupational credentials and permanent business place. The business term is no longer than 30 years.
Investors should apply for establishing a distribution enterprise to press distribution administrative agencies of the province, autonomous region, and municipality directly under the Central Government where the enterprise locates. The application will be examined and approved by press publishing agencies, foreign trade and economic administrative agencies of province, autonomous region, municipality directly under the Central Government and State Counsel.