【正文】 as its investment in the joint venture. The amount appraised for such right shall be equivalent to the site use fee payable for acquiring the right to the use of a site of the same kind.Article 46 The rate for the site use shall be set forth by the people39。3. increase in or reduction of the registered capital of the joint venture。s legal address.Article 33 Resolutions on the following matters shall be made only after being unanimously agreed upon by the directors present at the board meeting:1. amendment to the Articles of association of the joint venture。s Bank of China on the day the payment is made.Article 24 The machinery, equipment or other materials contributed by the foreign party as capital contribution shall be those that are indispensable for the production of the joint venture.The valuation of the machinery, equipment or other materials as mentioned in the preceding paragraph may not be higher than the current international market price of machinery, equipment and other materials of the same kind.Article 25 The industrial property or proprietary technology contributed by the foreign party to a joint venture shall meet one of the following conditions:1. capable of markedly improving the performance, quality of existing products and raising productivity。s production scale as set out in the contract and the Articles of association of the joint venture.Article 18 The registered capital of a joint venture refers to the total amount of capital contribution registered with the registration authority for the establishment of the joint venture. It shall be the total amount of capital contribution subscribed by parties to the joint venture. The registered capital shall generally be denominated in Renminbi, or may be in a foreign currency agreed upon by the parties to the joint venture.Article 19 The registered capital of the joint venture may not be reduced during the operation term of the joint venture. If there is a genuine need for reduction due to the changes in the total amount of capital contribution and the production and operation scale, it shall be subject to the approval of the examination and approval authorities.Article 20 If one party to the joint venture intends to transfer all or part of its equity to a third party, consent shall be obtained from the other party to the joint venture, and approval from the examination and approval authorities is required. The formalities for change of registration shall be handled with the registration authority.When one party transfers all or part of its equity to a third party, the other party shall have preemptive right.When one party transfers its equity to a third party, the conditions for such transfer may not be more favorable than those for the other party to the joint venture. Where the above stipulations are violated, no transfer shall be valid.Article 21 Any increase in or reduction of the registered capital of a joint venture shall be approved by the board meeting and submitted to the examination and approval authorities for approval. The formalities for change of registration shall be handled with the registration authority.Chapter IV Forms of Capital ContributionArticle 22 A party to a joint venture may make its capital contribution in money or in the form of buildings, factory premises, machinery, equipment or other materials, industrial property, proprietary technology, or site use rights, the value of which shall be used as capital contribution. If the capital contribution is in the form of buildings, premises, machinery, equipment or other materials, industrial property or proprietary technology, the value thereof shall be determined by the parties to the joint venture through consultation and on the basis of fairness and reasonableness or shall be appraised by a third party agreed upon by the parties to the joint venture.Article 23 The capital contribution in foreign currency made by the foreign party shall be converted into Renminbi or cross exchanged into a predetermined foreign currency at the standard exchange rate published by the People39。8. dissolution and liquidation。6. the setting up of management organizations, rules for handling routine affairs, the responsibilities of the general manager, deputy general manager and other highranking managerial personnel, and the method of their appointment and dismissal。 total amount of capital contribution, registered capital of the joint venture, the amount and proportion of capital contribution of each party to the joint venture, the form of contribution, the contribution payment period, stipulations concerning equity transfer, the proportions of profit distribution and losses to be borne by parties to the joint venture。2. the purpose, business scope and duration of the joint venture。12. the ways and procedures for settling disputes between the parties to the joint venture。10. the duration of the joint venture, its dissolution and the procedures for liquidation。8. the principles governing the handling of finance, accounting and auditing。6. the main production equipment and technology to be adopted and their source of supply。4. the proportion of profit to be distributed and losses to be borne by each party。2. the name of the joint venture, its legal address, purposes and the scope and scale of business。4. lists of candidates for chairperson, vice chairperson and directors nominated by the parties to the joint venture。2. the feasibility study report jointly prepared by the parties to the joint venture。 2. Where there is no need for the State to allocate additional raw materials, and the national balance of fuel, power, transportation and foreign trade export quota, etc. is not affected.Joint ventures established upon approval as prescribed in the preceding paragraph shall be filed with MOFTEC for the record.MOFTEC and the State Council authorized people39。s Republic of China (herein