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Explanations and Approval Process on Foreign Investment Projects
updated on :2010-09-25 14:40


Question: What kind of system is applied to foreign investment projects?


Answer: The "Approval System" is applied to foreign investment projects. From the point of the administrative management system, an approval made by authorized departments on foreign investment projects is an administrative approval that must be established and implemented in accordance with the provisions of law and regulations. In other words, approvals made by unauthorized departments are invalid and approvals made by authorized departments violating the provisions of legal procedures and jurisdiction are also deemed as null and void.



Question: What are the legal bases for approval on foreign investment projects?


Answer: There are two main legal bases for approval on foreign investment projects. One is the No.20 Decision of the State Council that belongs to administrative regulations from a legislation aspect. The other is the No. 22 Decree of National Development and Reform Commission which is part of divisional regulations from a legislation aspect and is the significant supplementary document of the No.20 Decision of the State Council.

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