The National Development and Reform Commission (“NDRC”) has finally promulgated the long awaited “Administrative Measures for Verification and Registration of Overseas Investment Projects （《境外投资项目核准和备案管理办法》）” (“Order 9”).
The State Council promulgated “Catalogue of Investment Projects Subject to Governmental Verifications (2013（《政府核准的投资项目目录（2013年本）》)” (“2013 Catalogue”) on 2 December 2013, under which the approval powers of NDRC and the Ministry of Commerce (“MOFCOM”) on Chinese overseas investment are significantly reduced and decentralised. (For detailed discussions on changes introduced by 2013 Catalogue to the existing verification regime of Chinese outbound investment, please refer to our client alert, “Catalogue of Investment Projects Subject to Governmental Verifications (2013) Overhauls Chinese Outbound Investment Regulatory Regime”.) As 2013 Catalogue only provides for general principles, the market has been waiting for the two most powerful approval bodies to release their respective implementation rules.
Continue Reading “The other shoe finally falls”: NDRC issues “Administrative Measures for Verification and Registration on Overseas Investment Projects”