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Q&A on Improving and Regulating the Management of Foreign-Invested Projects

An approval system for foreign-invested projects instituted at the beginning of China’s investment system reform has brought about a better investment environment, more efficient use of foreign investment, and more effective macrocontrol. In some regions, the enforcement of relevant national regulations is still weak and problems emerge in the management of foreign-invested projects. To solve such problems, the State Council has issued the Decision of the State Council on the Reform of Investment System (Guo Fa [2004] No. 20) and Tentative Administrative Measures on Approving Foreign-invested Projects by NDRC (No. 22 Decree of NDRC) and other relevant laws and regulations.

Q: What specific measures have been taken to tighten the examination of the authenticity of foreign-invested projects?

A: When examining the authenticity of a project, development and reform departments at all levels shall estimate its total investment according to its scale and major elements. If necessary, an accredited advisory agency can be invited to do the evaluation. The balance between the total investment and capital in cash must be stringently regulated and the financing plans implemented according to where the foreign capital flows. Relevant national regulations shall be implemented for external debts. Those foreign investors whose background is unclear, whose credit rating is poor or who provide incomplete materials shall be more strictly examined to prevent the inflow of foreign capital from companies with no real investment background.

Q: How are foreign-invested projects classified according to this regulatory system?

A: According to the Catalogue for the Guidance of Foreign Investment Industries, the National Development and Reform Commission (NDRC) is responsible for examining the application report of a project with a total investment (including capital increase) of US$100 million or more in the "encouraged" or "permitted" categories or of US$50 million or more in the restricted category. The provincial development and reform departments are responsible for a project with a total investment (including capital increase) of less than US$100 million in the encouraged or permitted category or of less than US$50 million in the "restricted category." Projects in the restricted category shall be examined by provincial development and reform departments and in no case shall this approval authority be delegated to lower levels for whatever reason or by whatever means.

Q: What specific requirements shall development and reform departments at all levels follow in regulating a newly launched foreign-invested project and tightening the standards for approval?

A: Development and reform departments at all levels shall tighten the approval of newly launched foreign-invested projects in accordance with the Notice of the General Office of the State Council on Strengthening and Regulating the Management of Newly Launched Projects (Guo Ban Fa [2007] No. 64). The owner of the project shall submit the application report to development and reform departments, including relevant documents if approval of site selection, pre-examination of land for use, and Environmental Impact Assessment are involved. The documents shall go through the correct procedures and all departments shall not overstep their own authority. Development and reform departments shall strictly limit projects causing serious environmental pollution or requiring high consumption of materials and resources and shall not approve any project that has none of the required documents mentioned above or does not meet the requirements in the Tentative Administrative Measures on Approving Foreign-Invested Projects by NDRC (No. 22 Decree of NDRC). Development and reform departments at all levels shall also step up communication with the Ministry of Land and Resources, the Ministry of Environmental Protection, the Ministry of Housing and Urban-Rural Development, the Ministry of Commerce, Administration of Exchange Control, and the customs and taxation departments so that all can shoulder their own responsibilities while cooperating with one another to promote synergy and improve the coordination mechanism for the management of foreign-invested projects.

关于进一步加强和规范外商投资项目管理问题的解答

自中国投资体制改革以来，外商投资项目实行了核准制度，为进一步完善投资环境、提高利用外资质量、加强宏观调控发挥了积极作用。但是，一些地方仍存在着未严格执行国家有关规定、对外商投资项目管理失当的问题。为此，中国国务院发布了《国务院关于投资体制改革的决定》（国发〔2004〕20号）和《国家发展和改革委员会外商投资项目核准暂行管理办法》（委第22号令）及其它相关法律、法规章程。

一、加强对外商投资项目真实性审查有哪些具体措施？

答：各级发展和改革部门在核准项目时，要根据项目建设规模和主要建设内容等为依据来核定项目总投资，必要时可委托有资质的咨询机构进行评估；根据境外资金的流向，对外商投资项目总投资与资本金的差额要严格管理，落实融资方案。需要对外举债的，要严格执行国家有关外债管理的规定；对背景不明、资信达不到要求或材料不完整的境外投资者要严格审查，以防无真实投资背景的外汇资金流入。

二、对外商投资项目分类、分级的管理体制是如何界定划分的？

答：按照《外商投资产业指导目录》，总投资额（包括增资额，下同）在1亿美元以上（包括1亿美元）的鼓励类、允许类项目和总投资额在5000万美元以上（包括5000万美元）的限制类项目，由中国国家发展和改革委员会核准项目申请报告；总投资额在1亿美元以下的鼓励类、允许类项目和总投资额在5000万美元以下的限制类项目，由地方发展和改革部门核准。其中，限制类项目由省级发展和改革部门核准，此类项目的核准权不得以任何理由、任何方式下放。

三、各级发展和改革部门在规范外商投资新开工项目管理、严格项目核准条件方面遵循哪些具体要求？

答：各级发展和改革部门应按照《国务院办公厅关于加强和规范新开工项目管理的通知》（国办发〔2007〕64号），严格规范新开工外商投资项目条件。由项目单位向发展和改革部门报送项目申请报告，涉及项目规划选址、用地预审、环评审批的应附送相关文件。有关文件办理事项要执行相关主管部门规定的程序和权限；严格限制严重污染环境和高能耗、高物耗、资源消耗大的项目，未按要求取得项目规划选址、用地预审、环评审批和节能评估等文件的项目，以及不符合《中国国家发展和改革委员会外商投资项目核准暂行管理办法》（委第22号令）核准要求的项目，各级发展和改革部门不得核准；各级发展和改革部门应与中国国家国土资源部、环境保护部、住房和城乡建设部、商务（外经贸）部以及外汇管理、海关和税务等部门加强沟通，各司其职，形成合力，健全对外商投资项目管理的联动机制。