Chinese outward investment

Circular of the Ministry of Foreign Trade and Economic Cooperation and the Ministry of Finance on Printing and Distributing the Detailed Rules for the Implementation of the Measures for Administration of International Market Developing Funds of Small-and Medium-sized Enterprises (MOFTEC & MoF, June 2001). [...] Under the [examination and approval] system, the government will only examine the project application report from the perspective of maintaining the [security] of the economy, reasonable development and exploitation of resources, protection of the environment, optimization of the layout of key projects, guaranteeing the public interests and prevention of monopoly, etc. [...] After the approval of the State Council and the investment department under the State Council, projects in the “Catalogue of Investment Projects Authorized by the Government” require no other authorization, and only filing formalities are needed. [...] The specific power division and [decision and] approval procedure shall be jointly formulated by the investment department of the State Council and related departments and such power division and approval procedure can be promulgated for implementation after getting the approval of the State Council. [...] Governments at all levels and related departments shall try to raise the efficiency of government investment and guide social investment, formulate and adjust [in a timely manner] the Fixed-Asset Investment Guidance Catalogue and the Foreign-Invested Industry Guidance Catalogue and specify investment projects encouraged, restricted and prohibited by the state.