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Project Verification Explained2008/07/15 02:00:00 US/Central
Q: How do foreign investors apply to the National Development and Reform Commission (NDRC) for project verification and approval to properly invest in commercial property development and operation? A: II. In accordance with the Administrative Permission Law of People’s Republic of China and Verification and Approval of Foreign-invested Projects Tentative Administrative Procedures (NDRC Circular No. 22), such matters are subject to administrative review and require foreign-invested project verification and approval. III. Such projects should be verified and approved by the NDRC at various levels according to their jurisdictions. Based on the definition by Catalogue for the Guidance of Foreign Investment Industries (2004 Revision), a project with a total investment of less than US$30 million (including added investment) may be verified and approved by local DRCs at the district and county level where projects physically exist. Projects worth between US$30 million and US$100 million (including added investments) are verified and approved by city DRCs. IV. Documents Needed for Project Verification and Approval 1. A Project Application Report is required and involves: * A project title and overview: listing major investors, a project description, current status. * A profile of the prospective purchaser: including corporate names, business range, registration location, description of major shareholders, business operation and financial status. * Plan on Project Operation. * Plan on Financing: total investments and financing channels. * A notice of finished preliminary work and work to be done later. 2. Other attachments include: * Relevant documentation of the original property (including project verification and approval documents, papers on land use, planning and sales; property ownership certificate for built property). * Letter of intent on cooperation or framework agreement signed by both parties. * Investment resolution or payment resolution made by the board or corporate management. * Documentation on assets, business and credit standing, including business licenses (Business Registration Certificates), the most recent audited balance sheet, income statements and cash-flow charts and accounts of the credit standings of domestic and foreign entities produced by a third party (an attorney or ratings agency). * Evaluation report on the targeted asset produced by qualified asset-evaluation agencies or documents produced by a third party that bear out the equity value of an asset. * Other papers required by relevant laws and regulations. A project verification and approval document is issued after a DRC’s examination according to the above-mentioned procedures. Project applicants may then use the approval document to go through relevant formalities at agencies concerned. Q: How is an application report on foreign-invested projects for verification and approval developed? A: NDRC’s Notification on Development of Project Application Report (NDRC2007 No. 1169) provides: In addition to general requirements on project application reports in accordance with Verification and Approval of Foreign-invested Projects Tentative Administrative Procedures, the development of an application report for foreign-invested projects should also include statements on the planned duration of operations, targeted markets, planned workforce, prices of relevant public products and services, means of investment, equipment to be imported and other required information that meets the needs for the agency responsible for verifying and examining market access and the management of capital projects. For foreign investors’ mergers and acquisitions of domestic entities and projects, the project application report can be simplified, with the focus on the following aspects: as long as the project is not involved in production or investment expansion, additional land use or consumption of energy and resources, and doesn’t add to ecological and environmental impact, they should provide a * Profile on the domestic entity (including its status quo, financial standing, asset evaluation and confirmation, M&A purpose and choice of foreign investors). * A profile on the foreign entity (financial status over the last three years, its investment on the Chinese mainland, market share of its controlled entities’ products and services in the same industry as well as the corporate performance). * M&A arrangement (personnel arrangement, disposal of the credit and debts of the original entity); method of business, scope of business and equity structure after M&A. * A financing plan. * A Chinese party’s income-use plan after a M&A * Other requirements contained in relevant laws and regulations. 外商在京投资产业需要注意的问题
1.外商投资非自用房地产，用于物业经营，如何向发改委申请办理外商投资项目核准？ 答： 一、根据《关于规范房地产市场外资准入和管理的意见》（建住房[2006]171号）规定，境外机构和个人在境内投资购买非自用房地产，应按照外商投资项目进行管理。 二、根据《中华人民共和国行政许可法》、《外商投资项目核准暂行管理办法》（国家发展改革委令第22号）文件规定，该事项为行政许可事项，需进行外商投资项目核准。 三、项目应按权限在各级发展改革部门进行核准：按照《外商投资产业指导目录（2004年修订）》分类，项目总投资3000万美元以下(包括增资额，下同)的，由项目所在地的区（县）发展和改革部门核准；总投资3000万美元及以上至1亿美元以下的，由北京市发展改革委核准。 四、申请项目核准时需提供以下材料： （一）编制项目申请报告，主要内容包括： 1、 项目名称及项目概述：投资主体情况、项目主要内容、项目现状等； 2、 拟购买方基本情况：企业名称、主要经营范围、注册地、主要股东情况，企业经营和财务情况； 3、 项目运作方案； 4、 项目资金方案：项目总投资、资金筹措； 5、 项目已开展的前期工作和下一步工作。 （二）其它附件包括： 1、 原房地产的相关批复文件（包括项目核准文件，土地、规划、销售相关文件等，已建成的房地产应提供产权证）； 2、 双方签署的合作意向书或框架协议； 3、 公司董事会或企业决策机构的投资决议、出资决议； 4、 双方的资产、经营和资信情况的证明文件，包括营业执照（商务登记证），经审计的最新的资产负债表、损益表和现金流量表，第三方（律师、评估机构）出具的中外方资信文件等； 5、 具备相应资质的资产评估机构出具的拟购买资产的评估报告，或其它可证明有关资产权益价值的第三方文件； 6、 根据有关法律法规应提交的其它文件。 发展和改革委员会按照上述规定审核后出具项目核准文件。项目申请人凭项目核准文件到有关部门办理相关手续。 2、如何编写外商投资核准项目申请报告 答：《国家发展改革委关于发布项目申请报告通用文本的通知》（发改投资[2007]1169号）中规定： 外商投资项目申请报告的编写，按照《外商投资项目核准暂行管理办法》的规定，除遵循项目申请报告通用文本的一般要求外，在项目概况介绍中还应包括经营期限、产品目标市场、计划用工人数、涉及的公共产品或服务价格、出资方式、需要进口的设备及金额等内容，以满足项目核准机关对市场准入、资本项目管理等事项进行核准的需要。 对于外商并购境内企业项目，如不涉及扩大生产及投资规模，不新占用土地、能源和资源消耗，不形成对生态和环境新的影响，其项目申请报告可以适当简化。 |
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