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Proposed legislative revision on overseas investment and foreign investment
2012-September-21 Source: Newsgd.com
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On August 16, 2012, Chinese National Development and Reform Commission ("NDRC")issued two drafts to the public. These two drafts propose revisions to Tentative Measures for the Administration of Examination and Approval of the Overseas Investment and Tentative Measures for the Administration of Examination and Approval of the Overseas Investment. The revisions specify the level of competent authorities and approval condition and are intended to make the approval procedures easier for both overseas investment and foreign investment.

Macro-control on overseas investment though strategic plan, industrial policy, tax policy, foreign exchange administration and other eco-legal measures is to promote the simplicity, transparency and efficiency in approval where Chinese enterprises applies for overseas investment.

It is reported that NDRC has pilot programs for simplifying the application of investment project, registration of local large foreign investment, approval of local small enterprises,

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According to the data released by authority, overseas investment by Chinese enterprises reached 382.3 billion US dollar accumulatively by the end of 2011. Just in 2011, Chinese enterprises have investment in 132 countries with capital injection of 65.1 billion US dollar, ranking the first in developing countries. The non-state owned enterprises were doing well in the outflow with increase to 44% of investment scale in 2011.

(This information is provided by Lawyer Kelly Xie from Guangdong KaiTong Law Firm in friendship. It is not any legal opinion or legal grounds addressed to any organization or individual. For inquiry, please contact Kelly via email at Kelly_xie@ktlf.com.cn or by phone on 13926185641.)

Editor: Miranda
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