If a Solely Foreign-owned Financial Leasing Company intended to add an additional Chinese shareholder and to increase its capital of US$20 million to US$50 million would it first need to report to the Ministry of Commerce? Also, would the Chinese shareholder be allowed to make a contribution in RMB within China and how long be required to repay any increased capital?
Updated:2014-12-16
There is no need to report any such changes to the Ministry of Commerce. The Chinese shareholder would be allowed to make contribution in RMB within China; and any increased capital must be repaid within two years.