Joint Venture Contracts In China By: Gregory Sy | - As other world markets decline, China has become relatively safe destination for FDI. Statistics show that from their high point in the late 80's, Joint Ventures have declined in popularity in favor of the Wholly Foreign Owned Enterprise (WFOE) structure. This is a result of both freer markets, as well as a general preference for companies to wholly own and control their operations in China.
Most Foreign Invested Enterprises (FIEs) are governed by a board of directors and senior management. An exception exists for Cooperative Joint Ventures that the parties have chosen not to incorporate (these are governed by a management committee).
Powers: The Chairman, as the legal representative of the enterprise, has the power to legally bind the enterprise and bears significant responsibility for its acts and
omissions. Most of the power ... Tags:China, investment, FIE, foreign, joint venture, WOFE, management, board of directors
