Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 30

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 30
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 governed
by the Foreign Investment Law, which was approved by the National People’s Congress of China in March 2019 and took effect on January
1, 2020. Along with the Foreign Investment Law, the Implementing Rules of Foreign Investment Law promulgated by the State Council and
the Interpretation of the Supreme People’s Court on Several Issues Concerning the Application of the Foreign Investment Law promulgated
by the Supreme People’s Court became effective on January 1, 2020. Under the Foreign Investment Law, the term “foreign investments”
refers to any direct or indirect investment activities conducted by any foreign investor in the PRC, including foreign individuals, enterprises
or organizations; such investment includes any of the following circumstances: (i) foreign investors establishing foreign-invested enterprises
in the PRC solely or jointly with other investors, (ii) foreign investors acquiring shares, equity interests, property portions or other
similar rights and interests thereof within the PRC, (iii) foreign investors investing in new projects in the PRC solely or jointly with
other investors, and (iv) other forms of investments as defined by laws, regulations, or as otherwise stipulated by the State Council.

Pursuant to the Foreign Investment Law, the State
Council shall promulgate or approve a list of special administrative measures for access of foreign investments. The Foreign Investment
Law grants treatment to foreign investors and their investments at the market access stage which is no less favorable than that given
to domestic investors and their investments, except for the investments of foreign investors in industries deemed to be either “restricted”
or “prohibited.” The list of industries in these two categories is sometimes referred to as the “negative list.”
The Foreign Investment Law provides that foreign investors may not invest in the prohibited industries and must meet such requirements
as stipulated for making investment in restricted industries. The most recent list of restricted and prohibited industries can be found
in the Special Entry Management Measures (Negative List) for the Access of Foreign Investment (2024 version), which was promulgated by
the National Development and Reform Commission and the Ministry of Commerce on September 6, 2024 and took effect on November 1, 2024. Industries that
are not restricted or prohibited are generally open for foreign investments unless specifically restricted by other PRC laws.

The Foreign Investment Law and its implementing
rules also provide several protective rules and principles for foreign investors and their investments in the PRC, including,
among others, local governments shall abide