By Thomas Y. Man, Yan Zeng & Jing (Jean) Sun of Orrick, Herrington & Sutcliffe LLP
A policy realignment of sorts took effect on December 1 2007, under the newly revised version of the Foreign Investment Industrial Guidance Catalogue (Amended 2007) (Õ,ÃÕð"µ÷µø¬(2007Íð©)), which was jointly issued on October 31 2007 by the National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOFCOM). This marks the fourth revision to the Foreign Investment Industrial Guidance Catalogue since its first promulgation in 1995 (the previous revisions occurred in 1997, 2002, and 2004 respectively).
POLICY OBJECTIVES
An official NDRC news release1 has summarized the policy objectives of the 2007 Catalogue as follows:
1) To upgrade China's industrial structure by encouraging investment projects that use new and high technologies and new materials, and by reducing support for investment in the manufacturing sector using traditional technologies;
2) To enhance resource conservation...
The rest of this article is available to subscribers only. Subscribe now to continue reading this article and to have full access to all other articles and full-text translations.