Without such approval, Chinese-foreign equity joint ventures may not engage in the export of goods in these categories.

未经批准，中外合资经营企业不得经营此类产品的出口业务。

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Article 12 the operation periods of equity joint ventures may be handled differently according to their particular lines of business and circumstances.

合营企业的合营期限，按不同行业、不同情况，作不同的约定。

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Article 3 the proportion of registered capital and total amount of investment of Chinese-foreign equity joint ventures shall abide by the following provisions.

第二条中外合资经营企业的注册资本，应当与生产经营的规模、范围相适应。合营各方按注册资本的比例分享利润和分担风险及亏损。

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Elan typically takes equity stakes of less than 20% in the companies or joint ventures, so it's not required to consolidate these deals in its financial statements, Teeters says.

FORBES: Elan's spin

It is no accident that there have been few joint ventures with foreigners, or that, in almost all of those cases, equity stakes have been small.

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