According to the Interim Methods for Trial Establishment of Chinese-Foreign Joint-Ventured Foreign Trade Companies promulgated in 1996, a joint-ventured foreign trade company shall have a registered capital of not less than RMB100 million, but this standard is cut down in accordance with the provisions in the Interim Methods for Establishment of Chinese-Foreign Joint-Ventured Foreign Trade Companies, which provides that joint-ventured foreign trade companies shall meet the following conditions: having a registered capital of not less than RMB50 million; having their own names and having set up their own organizational structures; boasting business places, professionals and other necessary material conditions that can support their operations in foreign trade. The registered capital is now cut from RMB100 million to RMB50 million.