Recently the Chinese government has shown an increasing tendency to relax restrictions on, and encourage the expansion of, outbound investment by PRC enterprises. In addition to the Ministry of Commerce (MOFCOM) promulgating a new version of the Measures on the Administration of Overseas Investment (MOFCOM Measures) in September 2014, the National Development and Reform Commission (NDRC) also issued the Measures for the Administration of Approval and Record-filing on Overseas Investment Projects (NDRC Measures) on 8 April 2014, which then took effect on 8 May that year.
Partner
DaHui Lawyers
Beijing
The last column covered new changes introduced in the MOFCOM Measures. This column focuses on the differences between the MOFCOM Measures and NDRC Measures, together with matters to be noted when completing the filing and application procedures for outbound investment projects in accordance with the MOFCOM Measures.
While the spirit and basic principles of both rules appear consistent, i.e. moving from an approval-based system to a predominantly filing-based system, certain important differences remain between the two schemes.
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Zhang Jida and Owen Yang are partners in the Beijing office of DaHui Lawyers
Suite 3720, China World Tower
1 Jianguomenwai Avenue
Beijing 100004, China
Tel: +86 10 6535 5888
Fax: +86 10 6535 5899
www.dahuilawyers.com
E-mail: jida.zhang@DaHuiLawyers.com
owen.yang@DaHuiLawyers.com
www.dahuilawyers.com
