In the previous issue, we introduced the Measures for the Administration of the Approval and Record-filing of Overseas Investment Projects and related legislation. In this issue, we continue our introduction on the National Development and Reform Commission’s (NDRC) latest updates to the legislation with respect to overseas investment by domestic enterprises.
On 23 July, the State Council circulated for comment the NDRC’s Draft Regulations on the Administration of Government Approval and Record-filing of Investment Projects. Compared with the aforesaid measures, the draft further reduced restrictions on overseas investment by domestic enterprises, reflecting the overall trend of relaxing restrictions for Chinese investment overseas. The main provisions of the draft are summarized below.
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DaHui Lawyers
Beijing
Methods and procedures
Scope. The draft continued the provisions set out in the measures on the scope of approval and for record-filing. Domestic enterprises will still need to undertake the record-filing process for their overseas investments, and must seek approval for overseas investments involving sensitive countries and regions or sensitive industries.
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Zhang Jida and Owen Yang are partners in the Beijing office of DaHui Lawyers
Suite 3720, China World Tower
1 Jianguomen Outer Street
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
