Sim­pli­fied Ap­proval

Beijing Review - - THIS WEEK ECONOMY -

China’s top eco­nomic plan­ner has de­cided to stream­line the rules for get­ting new Sino-for­eign auto joint ven­tures ap­proved.

The long­stand­ing prac­tice of check­ing and rat­i­fy­ing the ad­min­is­tra­tion of auto joint ven­tures will be changed into the management mode of fil­ing records or reg­is­tra­tion only, ac­cord­ing to a source from the Na­tional De­vel­op­ment and Re­form Com­mis­sion (NDRC).

The new rules, which will go into ef­fect on Jan­uary 10, 2019, also ap­ply to the ad­min­is­tra­tion of new elec­tric pas­sen­ger cars and auto in­vest­ment projects over­seen by pro­vin­cial gov­ern­ments, ac­cord­ing to the NDRC source.

In re­cent years, China has re­duced the num­ber of re­stric­tions on for­eign in­vest­ment by nearly two thirds and also sig­nif­i­cantly re­formed the ap­proval sys­tem for for­eign in­vest­ment.

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