After the Shanghai and Beijing Municipal Governments successively promulgated the rules for pilot foreign-invested equity investment enterprises, Tianjin Development and Reform Commission (“Tianjin DRC”), Financial Affairs Office of Tianjin Municipal People's Government, Tianjin Commission of Commerce and Tianjin Administration for Industry and Commerce jointly issued the Interim Measures on Carrying out the Pilot Program for Foreign-Invested Equity Investment Enterprises and Management Enterprises in Tianjin (the “Tianjin QFLP Measures”) and the Implementing Rules on the Interim Measures on Carrying out the Pilot Program for Foreign-Invested Equity Investment Enterprises and Management Enterprises in Tianjin (the “Implementing Rules”) on October 14, 2011. The Tianjin QFLP Measures will come into force as of the date of promulgation, while the Implementing Rules will take effect 30 days thereafter.
