Jurisdiction - China
Reports and Analysis
China – NDRC Issues Draft Measures To Divide Overseas Investment Projects Into Two Categories.

31 August, 2012

 

 

On August 16, 2012, the NDRC issued a draft version of the Measures for Administration of Verification and Approval of Foreign Invested Projects. The public is allowed to submit comments on the draft until September 15, 2012. The draft measures divide overseas investment projects into two categories: resources development projects and non-resources development projects. The rules governing resources development projects will apply to the administration of overseas transportation infrastructure projects (such as ports, airport, railway, road, urban subway and light rail etc). The approval authority provisions and the registration, record-filing and information reporting requirements set out under the draft measures are unchanged. After the completion of an overseas investment project approved by the NDRC or State Council, the Chinese investor may transfer their equity or asset to the project without obtaining the NDRC’s further approval. However, the investor must report such transfer to the NDRC within 10 working days after the closing of the deal.

 

The full Chinese text of the notice is available here.
 

 

For further information, please contact:

 

Elizabeth Cole, Partner, Orrick

ecole@orrick.com
 
Thomas Man, Partner, Orrick
tman@orrick.com

 

Veronica Lockyer, Orrick
vlockyer@orrick.com

 

Yan Zeng, Orrick
yzeng@orrick.com

 

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