New rules will simplify most outbound deals

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    clpstaff &clp articles

    Measures take effect on May 1

    China's main commercial regulator has issued new rules for the administration of outbound investment by domestic Chinese companies. The rules are expected to speed up certain routine approvals, but may also increase the role of China's overseas diplomatic offices.

    The Ministry of Commerce (Mofcom) issued the Measures for the Administration of Outbound Investment on March 16 2009; they take effect on May 1. The main changes in the measures are related to the time needed to obtain Mofcom's approval for some routine investments: if an outbound deal does not trigger certain criteria, it may be approved in as little as three working days.

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