On September 9, the Ministry of Commerce announced that the newly revised “Overseas Investment Management Measures” will be implemented soon, and Chinese enterprises’ overseas investments will be mainly registered.
The newly revised “Measures” establishes a management model of “recording as the mainstay and approval as the supplement”. Investments by Chinese enterprises in sensitive countries and regions and sensitive industries will be subject to approval management, and the rest will be subject to recordation.
The scope of approval has been narrowed, the approval time limit has been shortened, the requirement for approval of overseas investments above a certain amount has been cancelled, and the approval time limit has been shortened by 5 working days.
The filing requirements and procedures are clarified. As long as the enterprise fills out the “Filing Form” truthfully and completely, it can obtain the filing within 3 working days.
It is stipulated that the provincial commerce authorities are responsible for the registration management of local enterprises investing overseas and setting up enterprises, and they print and issue the “Enterprise Overseas Investment Certificate” by themselves. The new “Measures” will be implemented on October 6.
