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Shanghai issued a notice on approval and filing procedures for foreign investment projects


4 April 2014
On 28 March 2014, Shanghai Municipal Development and Reform Commission issued the Notice on Administration of Foreign Investment Projects during Transitional Period (the "Shanghai Notice"). This Shanghai Notice is to implement in Shanghai the Catalogue of Governmental Approval Investment Projects (2013 version) promulgated by PRC State Council on 2 December 2013 (the "State Council 2013 Catalogue").
According to the State Council 2013 Catalogue, for most of the "encouraged projects", and all of the "permitted projects", the approval is not required from NDRC (National Development and Reform Commission) or its local branch, and instead, a filing procedure is to be carried out.
According to this Shanghai Notice, for the period until NDRC promulgates the nation-wide applicable Administrative Measures on Approval and Filing of Foreign Investment Projects pursuant to the State Council 2013 Catalogue, for projects which are required to carry out filing procedures according to the State Council 2013 Catalogue, the relevant authority in charge shall, within 10 working days after receipt of filing documents, grant its consent for filing if the project is in compliance with laws and regulations, relevant policies and plans, and industry admittance standard; otherwise it will reject the filing request and give the reason of rejection.

The filing procedures described in the Shanghai Notice seems still quite similar to the previous approval procedures. Nevertheless this is only Shanghai’s transitional measures. To know how the State Council 2013 Catalogue is implemented throughout the PRC, we still need to wait for NDRC to promulgate the nation-wide applicable Administrative Measures on Approval and Filing of Foreign Investment Projects.


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Disclaimer
Any legal information contained in this newsletter is general in nature and laws and regulations are changing from time to time and compliance will always depend upon the particular circumstances. We have not attempted to give exhaustive descriptions of law or to give a legal opinion on specific legal issues. You should not rely on this newsletter as a legal advice for any particular purpose.

 

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