On December 26th, 2017, the National Development and Reform Commission (the “NDRC”) published the Measures for the Administration of Overseas Investments by Enterprises (NDRC’ Order No.11, hereinafter the “New Measures”), which will be implemented nationwide on March 1st, 2018. The Measures for the Administration of Project Approval and Filing for Overseas Investments (NDRC Order No.9, hereinafter the “Order No.9”) will be simultaneously repealed.

The New Measures cancelled the project information reporting system and the local preliminary review and relay sessions, and they liberalized the deadline requirements for approval and filing procedures to be performed by investors. The New Measures incorporate overseas investments executed by overseas entities subject to control by domestic enterprises and natural persons into the regulatory framework, establish a coordinated supervision system over weak links in the regulation of overseas investments, improved punitive measures, and establish a recording system for illegal conduct and irregularities involving overseas investments. The New Measures encourage investors to inquire about policies and seek information, report problems, and make suggestions and recommendations for the establishment of an overseas investment management and service network.

(Source: financialnews.com.cn)