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CIRCULAR OF THE STATE COUNCIL ON EXPANDING THE EXTENT OF AUTHORITY OF PROVINCES, AUTONOMOUS REGIONS AND SEPARATE PLANNING CITIES AND RELEVANT DEPARTMENTS OF THE STATE COUNCIL OVER EXAMINATION AND APPROVAL OF PROJECTS FOR INTRODUCTION OF DIRECT INVESTMENT BY FOREIGNERS

    To further open to the outside world, facilitate sustained, fast and
healthy development of national economy, and to create conditions for reducing
inter-regional gaps, the State Council has decided to properly expand the
extent of authority of following units over examination and approval of
projects for introduction of direct foreign investment: inland provinces,
autonomous regions and separate-planning cities; relevant ministries and
commissions, closely affiliated institutions of the State Council; China
Academy of Sciences; Shipping Industry General Corp.; Ordnance Industry
General Corp.; Aviation Industry General Corp.; Aerospace Industry General
Corp.; Nuclear Industry General Corp.; Oil and Chemical Industry General
Corp.; Nonferrous Metals Industry General Corp.; General Logistics Department
of the PLA.

    When examining any productive project for introduction of direct foreign
investment which conforms with the Temporary Provisions on Direction of
Investment by Foreigners and the Guiding List of Industries for Investment by
Foreigners, and for which the Chinese partner has no problem with investment,
construction, production and business operation and can satisfy the demand for
foreign exchange through their own balance arrangement, abovementioned
localities, ministries and units may extend their jurisdiction over
examination and approval of such a project from former limit of maximum total
investment value of USD 10,000,000 to the new limit of maximum total
investment of USD 30,000,000. After approval is obtained, the project shall be
reported to the State Planning Commission or the State Economy and Trade
Commission for record depending on the construction category of the project.
The contract and articles of association of the projected enterprise shall be
reported to the Ministry of Foreign Economic relations and Trade for record.

    This Circular comes into force as of the date of promulgation.