Recently, the National Development and Reform Commission has promulgated the Administrative Regulations on Government Examination, Approval and Record-filing of Investment Projects (Draft for Comment) to seek opinions before June 22, 2015.
The Draft for Comment makes overall institutional arrangements for the sound service and management of enterprise investment projects, which covers the management over various enterprises’ domestic investment projects and domestic enterprises’ overseas investment projects. According to the Draft for Comment, except that the projects that are related to national security and ecological security and involve significant national productivity layout, strategic resources development and major public interests shall be subject to examination and approval according to the provisions, other enterprise investment projects are subject to record-filing system. Overseas investment projects, based on different circumstances, are separately subject to the approval system or ex post record-filing system. Except that overseas investment projects involving sensitive countries and regions, sensitive industries require examination and approval according to the provisions, other overseas investment projects shall be subject to the ex post record-filing system. Please be noted the record is different from the approved project nor afterwards information, but beforehand enforcement record. From the point of the content, the record department only check whether the project is in line with industrial policies; the companies can submit an application form through the online platform, after the company report the investment project information, the company can print out filing result through online system.
If the Comments will be promulgated and implemented, it will be more convenient for foreign investors to set up company in China.