Wednesday, June 8, 2005
The China Committee of the ABA Section on International Law is putting on a breakfast/CLE on June 24th in Shanghai that will look at the role of the National Development Reform Commission in the foreign investment approval process. Here's the descriptive blurb:
Obtaining the Ministry of Commerce's (or its predecessor's) approval of projects has been key for foreign investors wishing to access the PRC market. In July of last year, the State Council issued its Reform of the Investment System Decision, which appeared to signal an important role for the National Development Reform Commission (“NDRC”) and perhaps a significant step in development of a registration system instead of an approval system. However, the Decision was broadly worded and left open the specific procedures to be applied by the NDRC. Of keen interest to foreign investors is how the NDRC registration process will in fact fit with the MOFCOM approval process. The NDRC subsequently adopted the Administration of the Verification of Foreign-invested Projects Tentative Procedures (issued October 9 2004), with the apparent aim of clarifying matters. However, significant questions still remain.
For complete information, click here.