China allows overseas joint venture human resource agencies
( 2003-10-09 13:55) (Xinhua)
Overseas human resources
agencies can enter the Chinese personnel market in joint venture enterprises
under a provisional regulation, which will take effect on Nov. 1.
The Provisional Regulations on Management of Sino-Foreign Joint Venture Human
Resource Agencies stipulate that overseas enterprises, companies and other
businesses engaged in human resources business for over three years can set up
joint venture intermediaries with Chinese partners.
This was the first step for China to open its human resources market and the
government would further open it as circumstances allowed, said an official with
the Ministry of Personnel.
The overseas firms are required to have a sound reputation, says the
regulation.
The joint venture should have at least 300,000 US dollars of registered
capital with the overseas party providing at least 25 percent and the Chinese
party at least 51 percent, the regulations stipulate.
Permanent offices, reasonable financing, office facilities and competent
full-time staff with college degrees are also necessary.
The joint ventures can collect, arrange, and issue human resources
information and carry out recommendations, employment, rating and training
according to business scopes approved by provincial personnel authorities.
Before 2001, some foreign human resources bodies had been operating
representative and business offices, according to the
ministry.
|
