The Ministry of Commerce recently revised and promulgated the "Measures for the Administration of Overseas Investment", and the foreign investment will implement the management mode of "reporting mainly and approval as the supplement", and minimize the scope of approval. Nantong Gympro Sports Co.,Ltd , https://www.sportsgympro.com
The "Measures" stipulate that domestic enterprises investing in foreign enterprises other than financial enterprises, involving sensitive countries and regions, sensitive industries, are approved by the Ministry of Commerce; in other cases, the central management enterprises report to the Ministry of Commerce for the record, local enterprises report Provincial government records.
Among them, the countries that have implemented the approved management include those that have not established diplomatic relations with China and those that have been sanctioned by the United Nations. Industries that are subject to approved management include industries that export products and technologies that restrict exports in China, and industries that affect the interests of one country (region).
The head of the Department of Foreign Investment and Economic Cooperation of the Ministry of Commerce said that while China's overseas investment is developing rapidly, it is also facing new situations and new challenges. For example, the international investment environment is becoming more and more complex, and the overseas investment entities and industries are increasingly diversified. Failure to implement it, some corporate social responsibility and risk awareness are not strong, and it is urgent to adjust and optimize the current management system to provide institutional guarantee for enterprises to “go global†better.
According to the latest data released by the Ministry of Commerce, China's foreign direct investment flows reached a record high of 107.84 billion U.S. dollars in 2013, a year-on-year increase of 22.8%. It has ranked among the top three foreign investors in the world for two consecutive years.
The "Measures" canceled the requirement for the approval of overseas investment of a certain amount or above and the establishment of a special purpose company abroad, and shortened the approval time limit by 5 working days. Among them, the approval of the central enterprise will be decided within 20 working days; the approval of the local enterprise will be decided within 30 working days.
The "Measures" clarify the requirements and procedures for filing. As long as the company completes the "Record Form" truthfully and completely, it can be filed within 3 working days.