What are the steps for joint venture approval process in China?

Generally there are three steps: (1) preliminary approval by the government department supervising the local Chinese enterprise, (2) final approval by the PRC authorities with jurisdiction over foreign trade and economic planning, and (3) the issuance of a business license by the appropriate government entities with authority over the regulation of industry and commerce. * note authorities usually require a substantial amount of start-up capital as a condition of approving a joint venture*

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