CIRCULAR OF THE STATE COUNCIL CONCERNING THE EXTENSION OF THELIMITS OF POWER VESTED WITH THE INLAND PROVINCES, AUTONOMOUS REGIONS,MUNICIPALITIES SEPARATELY LISTED IN THE STATE PLAN AND THE DEPARTMENTSCONCERNED UNDER THE STATE COUNCIL IN EXAMINING AND APPROVING FOREIGNINVESTMENT ABSORPTION
CIRCULAR OF THE STATE COUNCIL CONCERNING THE EXTENSION OF THELIMITS OF POWER VESTED WITH THE INLAND PROVINCES, AUTONOMOUS REGIONS,MUNICIPALITIES SEPARATELY LISTED IN THE STATE PLAN AND THE DEPARTMENTSCONCERNED UNDER THE STATE COUNCIL IN EXAMINING AND APPROVING FOREIGNINVESTMENT ABSORPTION
Important Notice:
This English document is coming from "LAWS AND REGULATIONS OF THE
PEOPLE'S REPUBLIC OF CHINA GOVERNING FOREIGN-RELATED MATTERS" (1991.7)
which is compiled by the Brueau of Legislative Affairs of the State
Council of the People's Republic of China, and is published by the China
Legal System Publishing House.
In case of discrepancy, the original version in Chinese shall prevail.
Whole Document
CIRCULAR OF THE STATE COUNCIL CONCERNING THE EXTENSION OF THE
LIMITS OF POWER VESTED WITH THE INLAND PROVINCES, AUTONOMOUS REGIONS,
MUNICIPALITIES SEPARATELY LISTED IN THE STATE PLAN AND THE DEPARTMENTS
CONCERNED UNDER THE STATE COUNCIL IN EXAMINING AND APPROVING FOREIGN
INVESTMENT ABSORPTION
(July 3, 1988)
With a view to further implementing the policy of opening to the outside
world and to promoting the all-round development of the national economy,
the State Council has decided to appropriately extend the limits of power
vested with the inland provinces, autonomous regions, and municipalities
separately listed in the state plan, the relevant ministries and
commissions under the State Council, and the State Bureau of Building
Materials Industry, the State Administration for Medicine, the State
Bureau of Technology Supervision, the State Administration for
Environmental Protection, the Civil Aviation Administration of China, the
National Tourism Administration, the National Bureau of Oceanography, the
National Meteorological Bureau, the State Seismological Bureau, and the
Chinese Academy of Sciences in examining and approving foreign investment.
With respect to productive projects developed by absorbing foreign
investments, provided these projects are in conformity with the investment
orientation stipulated by the state, their conditions of construction and
productive operations as well as their foreign exchange income and
expenditure do not require comprehensive balance to be conducted by the
state, and the export of their products does not involve export quota or
administration of export licences, the present limits of authority vested
with the aforesaid localities and departments in examining and approving
projects with a total amount of investment of five million U.S. dollars or
below each shall be extended to ten million U.S. dollars or below each.
After approval, the projects shall be reported to the State Planning
Commission for the record.
Where enterprises with foreign investments are set up by people's
organizations, their applications shall be examined and approved by the
province, autonomous region, municipality directly under the Central
Government, or municipality separately listed on the state plan, where the
said enterprises are located.
This Circular shall become effective as of the date of promulgation.
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