Progress or Setback? Looking at the New Approval Measures for Foreign Investment Projects
October 31, 2004 | BY
clpstaff &clp articlesRegulatory changes that have made it easier to set up new foreign investments, but new rules have displayed an ambiguity over the respective roles of issuing authorities that may confound foreign investors.
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By Xu Ping and Mark Schaub, King & Wood, Beijing and Shanghai
An important cornerstone of the PRC's foreign investment system has been the ability of the government to control the flow of investment by way of approval Measures that are overseen by various departments. Of course, the ability to do this has not been absolutely effective. The working of the approval system has not been without its own complexity given that questions often arose as to which authorities were required to approve the project, and more frequently, which level of a particular authority was involved.