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MOFCOM Carries out Pilot Programme of Optimizing Approval of Foreign Investment Projects
2014-June-30 Source: Newsgd.com
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On May 28, 2014, the Ministry of Commerce ("MOFCOM") issued the Announcement on Carrying out the Optimization of Approval of Foreign Investment Projects (the "Announcement").

According to the Announcement, the MOFCOM has decided to carry out a pilot programme of regulating and optimizing the approval for foreign investment projects, with the term of the pilot programme starting from the date of the issuance of the Announcement and ending on August 31, 2014. Apart from foreign-invested direct selling projects, all the other projects involving the establishment of and changes to foreign-invested enterprises which are subject to the approval of the MOFCOM fall within the scope of the pilot program. The main contents of this program include: a) shortening the period for approval by the means of adjusting the period stated in the regulations of foreign investment to the period stipulated in Administrative Licensing Law; b) simplifying the procedure for application through cancelling the reapplication of the commercial authorities under provincial level and authorizing the commercial authorities at provincial level to manage the application as well as reapplication to the MOFOCM; c) cancelling the submission of documents beyond the stipulation of laws and regulations, whereby the documents for application is simplified.

(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: 王凯
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