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MOFCOM loosens its grip on foreign investment
November 10, 2008 | BY
clpstaff &clp articlesChina's Ministry of Commerce has issued two circulars which delegate power and loosen its grip on approving foreign investment into the PRC. Investors in private equity and retail are the biggest benefactors.
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China's Ministry of Commerce (MOFCOM) has continued delegating its approval powers to lower government levels, further streamlining the investment pathways for foreign companies by issuing theCircular on Delegating Matters Concerning the Changes to, and Examination and Approval of, Foreign-invested Companies Limited by Shares and Enterprises (关于下放外商投资股份公司、企业变更、审批事项的通知) (Circular 50) andCircular on Delegating Matters Concerning the Examination and Approval of Foreign-invested Commercial Enterprises