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BEIJING. — New measures to allow easier overseas investment by domestic companies have been released by the Chinese Ministry of Commerce (MOC).Under the new rules, the ministry cedes its previous control over the number of investment projects.
Only overseas investment projects in sensitive countries or regions, as well as in sensitive industries will require approval by the MOC.
Such sensitive countries or regions include countries that have not established diplomatic ties with China and those countries under the United Nations sanctions.
Other overseas investment projects only need to register with the MOC, according to the new measures posted on their website Saturday.
Aimed at allowing more freedom for outbound investment, the measures take effect on October 6 this year.
Previously, any overseas investment project worth more than US$100 million was required to be approved by the MOC. — Xinhua.
Online Reporter