[00:05.09]Our Jiont Venture Law provides that the lowest foreign investment proportion shall be 25%,
[00:12.27]but there isn't an upper limit. What percentage do you intend to invest?
[00:17.86]China wants to attract as much investment as possible.
[00:22.06]Our government won't nationalize or requisition investment and any property of investors.
[00:30.41]We shall adopt the regular forms of international economic cooperation.
[00:35.98]Our new policy of opening to the outside world presents unricalled opportunities for joint ventures.
[00:43.66]We operate on the basis of equality and mutual benefit.
[00:48.03]A joint venture can operate only after having obtained approval of the Chinese government.
[00:54.62]The parties to the venture may contribute cash, capital goods and industrial property right, etc, as their investment.
[01:04.19]I should like to discuss with you ways in which we build a chemical works as a joint venture.
[01:11.77]We are willing to build a mutually advantageous manufacturing relationship with your firm.
[01:18.52]Generally speaking, in a jiont venture, the proportion of investment by the foreign investors should not be less than 25%, but there isn't an upper limit.
[01:31.55]We have had many opportunities to see that your firm is a reliable partner.
[01:35.82]If new technology is essential to competitiveness, I will share the technology with you.
[01:43.01]I have every reason to believe that the future is very promising.
[01:47.76]During the term of the joint venture, we think you should continue offering us your improved technology.
[01:55.17]All other managing directors and manager and agreed upon by both parties.
[02:02.03]Each side of the joint venture will take one of the positions.
[02:06.75]The joint venture is to be put under the guidance of the board of director.