By Wang Kaiding, Huang Mengting and Tang Xinran King & Wood Mallesons’ Corporate & Securities group

The Department of Foreign Capital and Overseas Investment of National Development and Reform Commission (“NDRC”) released the new Administrative Measures for Overseas Investment (draft for public comment) (“New Measures”) and drafting instructions on their official website[1] on 3 November, 2017. This consultation period, during which the public can give their opinion, ends on 3 December 2017.
Continue Reading Significant Changes in Overseas Investment Administration

By Andrew Fei King & Wood Mallesons’ sydney office

On 18 August 2017, as part of the Chinese government’s ongoing efforts to regulate overseas investments by Chinese companies, China’s State Council published a set of investment guidelines (Guidelines) formulated by four key regulators – the National Development and Reform Commission, Ministry of Commerce, People’s Bank of China and Ministry of Foreign Affairs (collectively, PRC Regulators).
Continue Reading China issues guidelines on overseas investments

by Xiong Jin Sun Rui King&WoodMallesons’ Mergers & Acquisitions Group

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”