I. Monetary Contributions
1. Certified Public Accountants (CPAs) should, based on examining the investor agreements, articles of association, approval documents, account opening files, and receipt vouchers issued by the account-opening bank, bank statements (or files with equivalent evidential power), and responses to bank confirmation letters, verify the actual contribution amounts of the contributors.
When all contributions are made in one installment or when the final installment is made in cases of staged contributions, it should be checked that the total amount of monetary contributions from all shareholders is no less than 30% of the registered capital.
2. The foreign investor’s monetary contributions remitted from overseas should be transferred into a foreign exchange capital account approved for opening by the Foreign Exchange Administration (SAFE), and confirmations should be sent to both the account-opening bank and SAFE. The foreign currency conversion rate should be calculated according to the exchange rate on the day the contribution is received.
3. For foreign investors contributing in...