stment  company invests shall be separately submitted for approval in accordance with  the limits of approval authorization  and  the  approval  procedures  for  the examination and approval of foreign-invested enterprises.

Article 10

An enterprise established  by  an  investment  company  whose  foreignexchange investment solely made or together with other  foreign  investors is not less than twenty-five per cent of the  registered  capital  of  the enterprise shall enjoy the treatment of a foreign-invested enterprise, and be  issued  a  foreign-invested  enterprise   approval   certificate   and foreign-invested enterprise business license.

Article 11

A foreign investor, fulfilling the conditions specified in  Article  2 Item 1 (a), may contribute capital to and establish an investment  company in the name of its wholly-owned subsidiary.

Article 12

An investor that applies  for  approval  to  establish  an  investment company shall submit a guarantee letter to the  examination  and  approval authorities in  which  it  guarantees  the  capital  contribution  to  the registered capital and technology transfer by the  investment  company  to the enterprise(s) to be established when such investment  company  invests within the territory of China.

In case an investment company  is  established  in  the  name  of  its wholly-owned subsidiary, the parent company shall provide such a guarantee letter to the examination and approval authorities in which it  guarantees the capital contribution to  the  registered  capital  of  the  investment company to be  established 

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