




版權說明:本文檔由用戶提供并上傳,收益歸屬內(nèi)容提供方,若內(nèi)容存在侵權,請進行舉報或認領
文檔簡介
CHAMBERS
GLOBAL
PRACTICE
GUIDESPrivate
Equity2023De?nitiveglobal
law
guides
offeringcomparativeanalysisfromtop-rankedlawyersChina:
Trends
&
DevelopmentsSteven
Yu
andJiaGuoGlobal
Law
Of?ceCHINA
TrendsanddevelopmenTsTrends
andDevelopmentsContributedby:StevenYu
andJiaGuoGlobalLawO?ceGlobal
Law
O?ce
(GLO)
dates
back
to
1979,
have
vast
experience
in
representing
investors,when
it
became
the
?rst
law
?rm
in
the
People’s
but
it
has
also
extensively
represented
?nanc-Republic
of
China
(PRC)
to
have
an
international
ing
enterprises
and
founders.
With
a
deep
un-perspective,
fully
embracing
the
outside
world.
derstanding
of
the
best
legal
practices
and
de-With
more
than
500
lawyers
practising
in
its
velopment
trends
of
each
investment
term,
theBeijing,
Shanghai,
Shenzhen
and
Chengdu
of-
team
at
GLO
knows
how
to
?nd
the
most
e?ec-?ces,
GLO
is
today
known
as
a
leading
Chinese
tive
balance
of
interests
in
terms
of
negotiationlaw
?rm
and
continues
to
set
the
pace
as
one
so
as
to
realise
all-win
results.
Vastpractical
ex-of
the
PRC’s
most
innovative
and
progressive
perience
and
industrial
background
knowledgelegal
practitioners,
including
in
the
private
eq-
enable
GLO
to
enhance
value
in
every
processuity
and
venture
capital
sector.
Not
only
does
it
oftheclientinvestmentcycle.AuthorsStevenYu
isapartnerofGlobalLawO?cebasedinShanghai.JiaGuoisapartnerofGlobalLawO?cebasedinBeijing.JiaHehaslongfocusedhispracticespecialisesinprivateequityandontheareasofprivateequityventurecapital,M&A,capitalandventurecapital,M&A,fundmarkets,assetmanagementandformationandcapitalmarketgeneralcorporatepracticetransactionsacrossawidespectrumofindustries,includingthemanufacturing,automobile,chemical,logistics,TMT,
?ntech,consumerstaples,environmentservices,pharmaceuticals/healthcare,cleanenergy,areas.Industrieswithwhichhehasbeeninvolvedincludeenergyandresources,realestate,infrastructure,education,advertisingandmedia,telecoms,hi-tech,internet,?nancialservices,bigdata,entertainment,andcommercialproperty,
entertainment,education
pharmaceuticalandmedicalservices.Intheandtourismsectors.Thelegalservicesrenderedbyhimtypicallyincludeadvisingonstructuretransactions,conductingduediligence,drafting,reviewingandnegotiatingdocuments,renderinglegaloradvisoryopinionsaswellasassistingwithclosingmattersandcompletionofgovernmentapprovalprocedures.M&A,privateequityandventurecapitalareas,Jiahasadvisedonmorethan80cases,representingboth?nancialandindustrialinvestorsandfundraisingcompanies.Incapitalmarkets,hispracticeexperiencealsoincludesHongKonglistings,USlistings,A-sharelistings,NEEQlistingsanddebto?erings.2CHAMBERS.COMCHINA
TrendsanddevelopmenTsContributedby:StevenYu
andJiaGuo,GlobalLawO?ceGlobalLawO?ce15&20/FTower
1ChinaCentralPlaceNo81JianguoRoadChaoyangDistrictBeijing100025ChinaTel:
+861065846688Fax:+861065846666Email:global@Web:
US-ChinaTensions
WillReshapetheUSOutboundInvestmentRegimetioned
persons
and
countries,
to
the
area
of
out-bound
investment
by
US
persons
into
countriesOn
9
August
2023,
President
Biden
issued
an
of
concern,
mostly
notably,
China.
Since
thisExecutive
Order
(EO)
to
address
US
invest-
is
similar
to
the
current
Committee
on
Foreignment
in
certain
national
security
technologies
Investment
in
the
United
States
(CFIUS)
reviewand
products
in
the
PRC
including
Hong
Kong
regime
aiming
at
protecting
national
security,
butSAR
and
Macau
SAR.
The
EO
requires
the
US
in
an
opposite
direction,
it
is
therefore
colloqui-Department
of
Treasury
to
work
with
the
US
ally
known
as
“Reverse
CFIUS”.
Such
“ReverseDepartment
of
Commerce
and
other
agencies
to
CFIUS”
can
be
dated
back
to
6
June
2022,
whenput
into
place
an
array
of
implementation
regula-
seven
US
Congress
members
led
bipartisantionstoestablishamechanismthatcouldiden-
e?ort
to
propose
an
amendment
to
the
Inno-tify
and
di?erentiate
“noti?able”
vs
“prohibited”
vation
Act
aimed
at
reviewing
and
limiting
USoutbound
transactions
in
terms
of
extent
of
the
investment
into
countries
of
concern
or
thosethreat
that
may
be
posed
to
the
country’s
nation-
considered
“foreign
adversaries”
like
China
inal
security.
The
EO
will
come
into
e?ect
follow-
certain
industries
on
national
security
grounds.ing
the
issuance
of
implementing
regulations
by
This
was
followed
by
the
release
of
a
new
draftthe
US
Department
of
Treasury
and
does
not
set
oftheNationalCriticalCapabilitiesDefenseActa
deadline
for
these
regulations
to
be
issued.
on
13
June
2022,
a
revised
version
of
the
origi-Giventhe45-daycommentperiodandthetime
nallyproposedlegislationthatwascirculatedinit
will
take
to
develop
implementing
regulations,
2021,
aiming
to
address
national
security
risk
bythe
new
outbound
investment
regime
will
likely
establishing
an
expansive
outbound
investmentnotcomeintoe?ectuntil2024.review
regime.
The
EO
was
issued
after
the
USSenate
approved
adding
a
measure
to
the
2024The
EO
echoed
the
long-anticipated
moves
National
Defense
Authorization
Act
in
July
2023expanding
the
current
US
governmental
control
that
would
require
mandatory
noti?cations
offrom
the
areas
of
inbound
investment
into
the
US
certain
investments
in
China,
Russia,
Iran
andand
technology
and
commodity
export
to
sanc-
NorthKorea.3CHAMBERS.COMCHINA
TrendsanddevelopmenTsContributedby:StevenYu
andJiaGuo,GlobalLawO?ceThe
EO
targets
the
following
three
categories
ment
events
in
the
three
areas,
accounting
forof
“covered
national
security
technologies
and
62.4%.products”:
(1)
semiconductors
and
microelec-tronics,
(2)
quantum
information
technologies
Regardless
of
what
the
regulations
issued
by
USand
(3)
arti?cial
intelligence.
The
EO
is
antici-
Department
of
Treasury
will
ultimately
look
like,patedtotarget
onlycertaintypesofinvestment
the
“Reverse
CFIUS”
is
on
the
way.
In
antici-transactions
such
as
equity
transactions
(eg,
pation
of
these
regulations,
US
persons
shouldvia
mergers
and
acquisitions,
private
equity,
carefully
evaluate
their
investment
strategies
inventure
capital
and
other
arrangements),
green-
foreign
countries,
especially
China.
From
China’s?eld
investments,
joint
ventures
and
certain
perspective,
a
continuous
and
stable
utilisationdebt
?nancing
transactions
that
are
convertible
of
foreign
capital
in
innovative
and
high-end
techto
equity,
however,
target
transactions
entered
areas
could
face
some
challenges
to
be
over-into
to
evade
the
prohibitions
under
the
EO
are
comeinthenextdecade.also
regulated.
For
example,
a
US
person
willnot
be
able
to
knowingly
invest
in
a
third-country
MeasuresforRegistrationandFilingofentitythatwillusetheinvestmenttoparticipate
PrivateFundsSubstantiallyRaisedthein
a
transaction
with
a
covered
foreign
person
in
ThresholdfortheRegistrationofFundacountryofconcern.ManagersIn
mainland
China,
fund
managers
are
requiredThe
above-described
US
regulatory
develop-
to
complete
registration
procedures,
which
doment
occurring
more
than
a
year
ago
appears
not
amount
to
a
permission
or
approval
fromto
have
had
a
signi?cant
impact
on
the
Chinese
a
legal
perspective,
in
the
Asset
Managementprivate
equity
and
venture
capital
market,
both
Association
of
China
(AMAC)
before
raising
afor
fundraising
and
for
investment.
According
to
private
fund.
On
1
May
1
2023,
the
Measuresstatistics
released
by
Zero2IPO
Research,
RMB
for
Registration
and
Filing
of
Private
Funds
(theinvestment
is
still
the
dominant
force
in
the
mar-
“Registration
Measures”)
promulgated
by
AMACket
in
the
?rst
half
of
2023
and
the
concentration
came
into
e?ect.
The
Registration
Measureshas
further
increased.
Speci?cally,
the
number
raise
the
threshold
for
the
registration
of
fundof
RMB
investment
cases
and
the
investment
managers
and
introduce
a
strengthened
supervi-amount
were
3,320
and
RMB234.071
billion,
sion
by
the
AMAC
compared
with
the
previousrespectively,
re?ecting
a
year-on-year
drop
of
rules.35.6%
and
39.9%.
At
the
same
time,
the
numberof
foreign
currency
(primarily
USD)
investment
The
Registration
Measures
impose
higher
stand-cases
totaled
155,
re?ecting
a
year-on-year
drop
ards
for
the
required
experience
and
profes-of
76.2%,
and
the
disclosed
investment
amount
sional
ability
of
senior
management
personnelwas
CNY58.894
billion,
re?ecting
a
year-on-year
of
fund
managers
and
also
require
applicantsdrop
of
49%,
which
was
2.1
times
and
1.2
times
to
provide
evidence
of
their
experience
in
theof
the
decline
rate
of
RMB
investment
respec-
submitted
materials.
Meanwhile,
the
controllingtively.The
focused
industry
areasof
investment
shareholder,actualcontrollerorgeneralpartnerin
the
?rst
half
of
2023
include
semiconductor
of
fund
managers
(if
any)
are
required
to
haveand
electronic
equipment,
biotechnology/medi-
more
than
?ve
years
of
relevant
practice
experi-cal
and
IT
industries,
with
a
total
of
2,271
invest-
ence
in
the
fund
management
or
related
area.4CHAMBERS.COMCHINA
TrendsanddevelopmenTsContributedby:StevenYu
andJiaGuo,GlobalLawO?ceAll
the
requirements
mentioned
above
and
other
tion,
futures
company
or
any
other
institutionrelated
restrictions
in
the
Registration
Measures
or
functionary
of
a
state
body,
who
have
beenare
meant
to
exclude
applicants
without
su?-
discharged
due
to
any
violation
of
laws
are
notcient
experience
in
equity
investment
and
pri-
allowed
to
serve
as
senior
management
person-vate
fund
management
from
entering
into
the
nelinafundmanagerafterthedischarge.businessofprivatefundsmanagement.The
Private
Funds
Regulations
also
set
up
aIn
response
to
the
licence-selling
behavior
of
series
of
administrative
penalties
for
the
illegalfund
managers
found
in
the
past,
AMAC
has
behavior
of
fund
managers
and
responsiblealso
taken
new
precautionary
measures
which
personnel.
In
the
event
that
a
private
fund
man-require
that
the
change
of
control
of
a
fund
man-
ager
fails
to
ful?ll
the
investigation
obligation
ofager
shall
not
be
done
within
three
years
after
quali?ed
investors,
fails
to
complete
record-?lingtheregistration,whilethemanagementscaleof
formalities
for
a
privately-o?ered
fund,
engag-the
target
fund
manager
in
the
last
year
shall
not
es
in
illegal
related-party
transactions
withoutbelessthanRMB30million.disclosure
in
accordance
with
applicable
lawand
regulations,
the
China
Securities
Regula-tory
Commission
(CSRC)
is
entitled
to
imposea
warning,
noti?cation
and
criticism
as
well
as?nes
upon
such
fund
managers
and/or
directlyresponsible
supervisors
and
personnel.
UnderRegulationsontheSupervisionandManagementofPrivateInvestmentFundsFurtherStrengthenedPrivateFundSupervisionOn9July92023,theStateCouncilofthePeo-
the
Private
Funds
Regulations,
the
?ne
imposedple’s
Republic
of
China
promulgated
the
Regu-
by
the
CSRC
could
be
up
to
?ve
times
the
illegallations
on
the
Supervision
and
Management
of
income.
If
thereis
no
illegal
income
or
if
the
ille-Private
Investment
Funds
(the
“Private
Funds
galincomeislessthanRMB1million,themaxi-Regulations”).
The
Private
Funds
Regulations,
mum?newouldbeRMB1million.which
came
into
force
on
1
September
2023,are
the
?rst
administrative
regulations
in
the
TheRegistration-basedIPOSystem,Revised?eld
of
private
investment
funds.
Its
promulga-
IssuanceConditionsandRegistrationtion
marks
a
further
improvement
of
the
private
ProceduresFurtherFacilitatedandExpandedfundsregulatorysystem.InvestmentExitChannelsforInvestorsIn
November
2018,
the
Science
and
TechnologyThe
Private
Funds
Regulations
strengthen
the
Innovation
Board
Market
(STAR)was
initiated
insupervision
of
fund
managers.
Under
the
Private
the
Shanghai
Stock
Exchange
and
piloted
theFunds
Regulations,
the
quali?cation
of
a
fund
registration-basedIPOsystem.InAugust2020,manager
would
be
canceled
by
the
AMAC
if
a
the
Growth
Enterprise
Market
(GEM)
of
thefund
manager
has
been
found
conducting
illegal
Shenzhen
Stock
Exchange
piloted
the
registra-fundraising
for
illegal
business
operations.
The
tion-based
IPO
system.
In
November
2021,
theregulations
also
strengthen
the
penalties
for
sen-
Beijing
Stock
Exchange
was
set
up
and
imple-ior
management
personnel
of
fund
managers.
mentedtheregistration-basedIPOsystem.TheEmployees
of
a
fund
manager,
fund
custodian,
registration-based
IPO
system
has
empoweredsecurities
or
futures
exchange,
securities
com-
?nanceandthedevelopmentoftherealecono-pany,
securities
depository
and
clearing
institu-5CHAMBERS.COMCHINA
TrendsanddevelopmenTsContributedby:StevenYu
andJiaGuo,GlobalLawO?cemy,
especially
for
technology-based
and
innova-
the
limitation
on
the
ratio
of
intangible
assetstiveenterprises.to
net
assets.
The
revised
issuance
conditionsprovide
new
options
for
applicants
and
aim
toIn
February
2023,
the
registration-based
IPO
sys-
support
the
issuance
and
listing
of
high-qualitytem
for
stock
issuance
was
formally
expanded
to
enterprises
with
mature
business
models,
sta-thewholecapitalmarket.TheCSRCissuedthe
ble
operating
performances
and
large
businessAdministrative
Measures
for
the
Registration
of
scales.Initial
Public
O?erings
of
Stocks
and
other
relat-edimplementationrules.Thestockexchanges,
In
terms
of
registration
procedures,
according
toNational
Equities
Exchange
and
Quotations
Lim-
the
Administrative
Measures
for
the
Registrationited
Liability
Company,
China
Securities
Deposi-
of
Initial
Public
O?erings
of
Stocks,
the
stocktory
and
Clearing
Limited
Liability
Company,
exchange
will
review
the
registration
documentsChina
Securities
Finance
Corporation
Limited
and
forward
the
application
to
the
CSRC
for
reg-and
the
China
Securities
Association
also
issued
istration.
The
Issue
Review
and
Approval
Com-andimplementedrelatedrules,involvingatotal
mittee
of
CSRC
is
formally
cancelled
after
theof
165
rules,
which
marks
a
signi?cant
devel-
full
implementation
of
the
registration-based
IPOopment
of
the
regulatory
system
for
the
capital
system.
Upon
receipt
of
the
stock
exchange’smarketofmainlandChina.review
comments
and
relevant
registrationdocuments,
the
CSRC
will
proceed
registrationIn
terms
of
issuance
conditions,
a
new
market
procedures
and
issue
the
decision
on
whethervalue
indicator
is
introduced
according
to
the
list-
to
register
within
20
working
days.
Under
theing
rules
of
the
Shenzhen
Stock
Exchange
and
registration-based
IPO
system,
the
time
neededthe
Shanghai
Stock
Exchange.
For
applicants,
from
application
to
listing
has
been
greatly
short-they
need
to
comply
with
all
of
the
following
con-
enedforapplicants.ditions
including,
(a)
the
estimated
market
valueis
not
less
than
RMB5
billion,
(b)
the
net
pro?t
Under
the
full
implementation
of
the
registration-for
the
most
recent
year
is
positive,
(c)
the
busi-
based
IPO
system,
the
issuance
conditions
andness
revenue
for
the
most
recent
year
is
not
less
review
procedures
have
been
optimised,
whichthanRMB600millionand(d)thecumulativenet
further
facilitates
the
listing
for
issuers
andcash
?ow
generated
from
the
operating
activities
expandstheexitchannelsforinvestors.for
the
most
recent
three
years
is
not
less
thanRMB150
million,
or,
alternatively,
all
of
the
fol-
Trial
AdministrativeMeasuresofOverseaslowing
conditions
must
be
met,
(a)
the
estimated
SecuritiesO?eringandListingbyDomesticmarket
value
is
not
less
than
RMB8
billion,
(b)
CompaniesReshapedtheRegulatorythe
net
pro?t
for
the
most
recent
year
is
positive
FrameworkforOverseasListingofDomesticand
(c)
the
operating
income
for
the
most
recent
Enterprisesyear
is
not
less
than
RMB800
million.
Compared
On
17
February
2023,
the
CSRC
issued
the
Trialwith
the
previous
Administrative
Measures
for
Administrative
Measures
of
Overseas
Securi-Initial
Public
O?erings
and
Listings
(expired),
the
ties
O?ering
and
Listing
by
Domestic
Compa-new
rules
have
removed
the
restrictive
condi-
nies
(the
“Trial
Administrative
Measures”),
whichtions
such
as
the
absence
of
uncompensated
came
into
force
on
1
March
1
2023.
The
Triallossesattheendofthemostrecentperiodand
Administrative
Measures
substantially
changed6CHAMBERS.COMCHINA
TrendsanddevelopmenTsContributedby:StevenYu
andJiaGuo,GlobalLawO?cetheregulatoryframeworkfortheo?shorelisting
ture
of
overseas
listing
required
no
approval
orofdomesticcompanies.registration
with
the
CSRC,
which
worked
foralmost
20
years.
After
the
implementation
of
theO?shore
listing
of
domestic
enterprises
is
an
Trial
Administrative
Measures,
the
regulation
ofimportant
way
to
exit
for
investors,
especially
for
above-mentioned
structures
has
changed
fun-o?shore
investors.
Traditionally,
there
are
three
damentally,
as
CSRC
?lings
are
required
undertypes
of
o?shore
listing
structures
for
domestic
allthreestructures.enterprises:
H-share
structure,
grand
red-chipstructure
and
small
red-chip
structure.
The
small
Article
2
of
the
Trial
Administrative
Measuresred-chip
structure
could
be
further
divided
into
explicitly
provides
that
“indirect
overseas
issu-equity
control
structure
and
variable
interest
ance
and
listing
of
domestic
enterprises
refers
toentity
(VIE)
structure.
H-share
structure,
which
the
issuance
and
listing
of
securities
by
an
enter-can
be
understood
to
be
a
company
incorpo-
prise
with
its
main
business
activities
in
the
terri-rated
in
the
PRC
directly
applying
for
listing
tory,
under
the
name
of
the
enterprise
registeredand
fundraising
at
o?shore
stock
exchanges,
abroad,
overseas
issuance
and
listing
basedrequires
the
approval
of
the
CSRC.
The
grand
on
the
equity,
assets,
income
or
other
similarred-chip
structure
could
be
understood
to
be
an
rights
and
interests
of
domestic
enterprises.”o?shoreholdingentityorentitieswithdomestic
While
under
Article
15
of
the
TrialAdministrativeassets
or
interests
as
the
listing
applicant
which
Measures,
if
a
target
company
ful?ll
the
condi-is
ultimately
controlled
by
a
PRC
incorporated
tions
that
the
operating
revenue,
total
pro?t,
totalenterprise.
Before
the
implementation
of
the
Trial
assets
or
net
assets
of
the
domestic
enterpriseAdministrative
Measures,
the
Notice
of
the
State
in
the
latest
?scal
year
account
for
more
thanCouncil
on
Further
Strengthening
the
Adminis-
50%oftheissuer’s
auditedconsolidated?nan-tration
of
Share
Issues
and
Listings
Overseas
or
cial
statements
for
the
same
period,
as
well
asthe
“1997
Red-Chip
Guideline”
(expired)
was
the
that
the
major
parts
of
the
operating
activities
areapplicable
regulation.
This
regulation
required
carried
out
in
the
PRC
territory
or
the
main
prem-the
approval
of
the
CSRC
and
of
the
provincial
ises
are
located
in
the
PRC
territory,
or
that
thegovernment
for
the
overseas
listing
of
grand
red-
majority
of
the
senior
management
in
charge
ofchip
structure
companies.
For
the
small
red-chip
the
operation
and
management
are
Chinese
citi-structure,
it
can
be
understood
as
a
domestic
zens
or
the
place
of
habitual
residence
is
locatednatural
person
holding
interests
in
a
domestic
in
the
PRC
territory,
it
will
be
recognized
as
ancompany
through
o?shore
companies
and,
as
indirect
overseas
listing
of
a
domestic
enterprisesuch,
a
round-trip
investment
into
China.
The
andsubjecttothe?lingrequirementsundertheo?shore
company,
usually
a
Cayman
company,
Trial
AdministrativeMeasures.is
used
as
the
listing
company
for
the
?nancingpurpose
under
the
small
red-chip
structure.
After
Before
the
implementation
of
the
Trial
Adminis-the
abolition
of
the
no-objection
letter
system
trative
Measures
no
?ling
or
registration
to
theas
stipulated
in
the
Circular
of
China
Securities
CSRC
was
required
for
a
proposed
listing
of
aRegulatory
Commission
on
Issues
Concerning
company
with
the
small
red-chip
structure
andStock
Issuance
and
Public
O?ering
Abroad
of
its
listing
could
usually
be
completed
within
sixOverseas
Corporations
which
Involve
Domes-
to
twelve
months.
After
the
implementation
oftic
Equity
in
2003,
the
small
red-chip
struc-
the
Trial
Administrative
Measures,
it
will
take7CHAMBERS.COMCHINA
TrendsanddevelopmenTsContributedby:StevenYu
andJiaGuo,GlobalLawO?cemore
time
due
to
the
?ling
procedures.
But
from
ment
Partnership
(Limited
Partnership)’s
pilotanother
perspective,
the
Trial
Administrative
application
for
in-kind
distribution
by
stock.
TheMeasures
provide
more
?exibility
for
compa-
applicant
should
ful?ll
the
corresponding
proce-nies
with
an
H-share
structure.
Under
the
current
dures
and
information
disclosure
obligations
inregulatory
regime,
proposed
listed
companies
accordance
with
the
relevant
laws
and
regula-with
an
H-share
structure
no
longer
need
the
tions
and
the
requirements
of
the
CSRC
on
theapproval
of
CSRC
as
in
the
past.
They
could
pilot
program
of
in-kind
distribution
by
stock
byalso
avoid
complex
and
tax-costly
cross-border
PE
Funds
and
distribute
stock
to
their
investorsreorganisations
as
in
the
case
of
small
red-chip
in
a
timely
manner.
Other
pilot
applications
bystructures.quali?ed
PE
Funds
for
in-kind
distribution
bystock
were
also
processed
in
an
orderly
manner.The
implementation
of
the
Trial
AdministrativeMeasures
also
brings
uncertainty
to
compa-
According
to
the
Notice,
an
in-kind
distributionnies
with
VIE
structure,
which
is
traditionally
by
stock
by
PE
Funds
to
investors
means
anused
by
companies
engaged
in
industries
in
the
arrangement
whereby
the
PE
Fund’s
managerprohibited
or
restricted
catalogue
for
foreign
and
investors
(including
shareholders
or
limit-investment.
Thereis
still
some
uncertainty
as
to
ed
partners,
as
appl
溫馨提示
- 1. 本站所有資源如無特殊說明,都需要本地電腦安裝OFFICE2007和PDF閱讀器。圖紙軟件為CAD,CAXA,PROE,UG,SolidWorks等.壓縮文件請下載最新的WinRAR軟件解壓。
- 2. 本站的文檔不包含任何第三方提供的附件圖紙等,如果需要附件,請聯(lián)系上傳者。文件的所有權益歸上傳用戶所有。
- 3. 本站RAR壓縮包中若帶圖紙,網(wǎng)頁內(nèi)容里面會有圖紙預覽,若沒有圖紙預覽就沒有圖紙。
- 4. 未經(jīng)權益所有人同意不得將文件中的內(nèi)容挪作商業(yè)或盈利用途。
- 5. 人人文庫網(wǎng)僅提供信息存儲空間,僅對用戶上傳內(nèi)容的表現(xiàn)方式做保護處理,對用戶上傳分享的文檔內(nèi)容本身不做任何修改或編輯,并不能對任何下載內(nèi)容負責。
- 6. 下載文件中如有侵權或不適當內(nèi)容,請與我們聯(lián)系,我們立即糾正。
- 7. 本站不保證下載資源的準確性、安全性和完整性, 同時也不承擔用戶因使用這些下載資源對自己和他人造成任何形式的傷害或損失。
最新文檔
- 2025-2030年數(shù)字化濃度計企業(yè)制定與實施新質生產(chǎn)力戰(zhàn)略研究報告
- 2025-2030年廚電產(chǎn)品軟件更新行業(yè)深度調(diào)研及發(fā)展戰(zhàn)略咨詢報告
- 2025-2030年口腔種植體角度調(diào)整工具行業(yè)跨境出海戰(zhàn)略研究報告
- 2025-2030年廁所除臭用品企業(yè)制定與實施新質生產(chǎn)力戰(zhàn)略研究報告
- 2025-2030年敏感肌面部卸妝油企業(yè)制定與實施新質生產(chǎn)力戰(zhàn)略研究報告
- 2025-2030年敏感肌美容用品系列行業(yè)深度調(diào)研及發(fā)展戰(zhàn)略咨詢報告
- 中國互聯(lián)網(wǎng)約租車行業(yè)市場前景預測及投資戰(zhàn)略研究報告
- 2025-2030年成長維生素軟糖企業(yè)制定與實施新質生產(chǎn)力戰(zhàn)略研究報告
- 拆解處理綜合利用融資投資立項項目可行性研究報告(非常詳細)
- 2021-2026年中國付費閱讀市場競爭策略及行業(yè)投資潛力預測報告
- 持續(xù)質量改進項目匯報
- 2024版買賣二手車合同范本
- 中央2024年中國建設報社招聘應屆生筆試上岸歷年典型考題與考點剖析附帶答案詳解
- 阻燃更要消煙一文讓你掌握無煙阻燃改性技術的方方面面
- 第15課 列強入侵與中國人民的反抗斗爭 教學設計-2023-2024學年中職高一上學期高教版(2023)中國歷史全一冊
- 2023年人教版七年級歷史下冊《全冊課件》
- 新大象版科學三年級下冊全冊知識點 (復習用)
- 《提案與方案優(yōu)化設計》課件-第二部分 平面布局方案設計
- 2024年黑龍江省專升本考試生理學護理學專業(yè)測試題含解析
- 奧特康唑膠囊-臨床用藥解讀
- 建筑設計工程設計方案
評論
0/150
提交評論