Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 35

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4
Chunk 35
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ments in China, namely, the Sino-foreign Equity Joint Venture Enterprise Law, the Sino-foreign Cooperative Joint Venture Enterprise
Law and the Wholly Foreign-invested Enterprise Law, together with their implementation rules and ancillary regulations. The Foreign
Investment Law embodies a regulatory trend to rationalize its foreign investment regulatory regime in line with prevailing international
practice and the legislative efforts to unify the corporate legal requirements for both foreign and domestic invested enterprises in China.
The Foreign Investment Law establishes the basic framework for the access to, and the promotion, protection and administration
of foreign investments in view of investment protection and fair competition.

According to the Foreign Investment Law,
“foreign investment” refers to investment activities directly or indirectly conducted by one or more natural persons, business
entities, or otherwise organizations of a foreign country (collectively referred to as “foreign investor”) within China, and
the investment activities include the following situations: (i) a foreign investor, individually or collectively with other investors,
establishes a foreign-invested enterprise within China; (ii) a foreign investor acquires stock shares, equity shares, shares in assets,
or other like rights and interests of an enterprise within China; (iii) a foreign investor, individually or collectively with other
investors, invests in a new project within China; and (iv) investments in other means as provided by laws, administrative regulations,
or the State Council.

According to the Foreign Investment Law,
the State Council will publish or approve to publish a catalogue for special administrative measures, or the “negative list.”
The Foreign Investment Law grants national treatment to foreign invested entities, except for those foreign invested entities
that operate in industries deemed to be either “restricted” or “prohibited” in the “negative list”.
Because the “negative list” has yet to be published by the State Council, it is unclear whether it will differ from the current Special
Administrative Measures for Market Access of Foreign Investment (Negative List) promulgated by the NDRC and the MOFCOM. The Foreign
Investment Law provides that foreign invested entities operating in foreign restricted or prohibited industries will require market
entry clearance and other approvals from relevant PRC governmental authorities.

Furthermore, the Foreign Investment Law provides
that foreign invested enterprises established according to the existing laws regulating foreign investment may maintain their structure
and corporate governance within five years after the implementing of the Foreign Investment Law.

In addition, the Foreign Investment Law also
provides several protective rules and principles for foreign investors and their investments in the