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I. Projects to be approved:foreign and overseas investment projects
II. The foundations of project approval: The Administrative Licensing Law, The State Council's Decision on Reform of the Investment Structure, Decision on Guiding Foreign Investment, National Development and Reform Commission's Interim Measures for the Administration of the Approval of foreign Investment Projects, Interim Measures for the Administration of Overseas Investment Projects, and Chongqing Municipality's Interim Measures for the Approval of Foreign and Overseas Investment Projects.
III. Authorities for the approval:
AForeign investment projects
1. The encouraged or allowed projects with a total investment(including the increased investment,the same as the following)of over 0.1 billion dollars, or the restricted projects with an investment of over 50 million dollars shall be verified and approved by the state. The projects will be transmitted by the Chongqing Municipal Development and Reform Commission to the National Development and Reform Commission, which is authorized to approve them.
2. The encouraged or allowed projects with a total investment of over 30 million dollars (including 30 millions) to 0.1 billion dollars, or the restricted projects with an investment of less than 50 million dollars shall be verified and approved by Chongqing Municipal Development and Reform Commission and Chongqing Municipal Economic Commission according to their different responsibilities. All the projects except the industrial projects of foreign investment with the amount of less than 50 million dollars will be verified and approved by Chongqing Municipal Development and Reform Commission.
3. The encouraged or allowed projects with a total investment of less than 30 million dollars shall be handled and approved by local development and planning commissions and economic commissions in districts or counties(autonomous county, city)according to their different responsibilities.
4. The encouraged or allowed projects with a total investment of less 0.1 billion dollars in the north new development zone, Chongqing economic and technological development zone and Chongqing high-tech development zones shall be handled and approved by the administrative commissions of the zones.
BOverseas investment projects
1. Overseas projects with a Chinese investment of 30 million dollars in resource development (refers to an investment to explore and develop crude oil, mines, and so on, the same with the following), or the overseas non-resource projects (that is, the projects of use foreign exchanges in large amounts) with the use foreign exchanges of 30 million dollars shall be reported, in accordance with regulations, by Chongqing Municipal Development and Reform Commission to the state who has the authority to verify and approve them.
2. Projects with a Chinese investment of 30 million dollars in resource development, or other projects of use foreign exchanges of 10 million dollars shall be verified and approved by Chongqing Municipal Development and Reform Commission.
3. Enterprises supervised by the central government shall be handled in accordance with the related regulations of the state if they invest overseas.
4. Projects scheduled to be in Taiwan and other countries that have no diplomatic relations with China shall be verified and approved by the National Development and Reform Commission or the State Council no matter what the amount of investment is.
IV. The list of all materials necessarily to be submitted
A. Foreign investment projects
The applicant shall submit its project application to the Chongqing Municipal Development and Reform Commission, and the application shall be done by advisory engineering bodies with relevant qualifications. The application shall need another four copies.
(I) The application shall include the following:
1. The name of the project, the period of operation, the basic information of investors;
2. The construction scale of project, the main content to be constructed, the products, the used technology and techniques, the analyses of products' market, the planned number of employees.;
3. The location of project construction, the needed quantities for land, water, energy and others, the wastage of main raw and processed materials;
4. The evaluation of influence on the environment;
5. The estimation and calculation of prices of public products or service concerned;
6. The total investment, the registered capital, the investment amount of every investor, the method of investment contribution, the operation period, the finance plan, the import equipments and the needed amount of payment;
7. If the projects have to invite public bidding in accordance with regulations, the preliminary plan for the inviting should be provided.
The application of encouraged or allowed projects with a total investment of less than 10 million dollars can be simplified.
(II) The application shall include the following:
1. The registries (business licenses) of foreign and Chinese investors, commerce registration certificates, the latest financial statements(including the balance sheet, the profit and loss statement and the statement of cash flows), the certificates of its credit worthiness provided by the bank where the account is opened;
2. The agreements of joint venture, the board's decisions on the increased fund and projects of purchase and mergence;
3. When a loan is concerned, the letter of financing intent, provided by the bank concerned, shall be provided;
4. The evaluation opinions about the influence on the environment, provided by the supervising administrative authority of environmental protection;
5. The opinions about the planning and the location choosing, provided by the supervising administrative authority in charge of city planning;
6. The preliminary verification opinions about the land used for the project, provided by the supervising administrative authority in charge of land and resources; or the grant contract of the use right of the state-owned land;
7. If the contributive capital is from the state-owned assets or land use right, the confirmation from relevant authorities shall be provided;
8. When the especially approved projects for business are concerned, the approval from the relevant authorities shall be provided;
For the projects to be verified and approved by the Central Government, Items 4, 5, 6 shall be provided by the municipal authorities or their superiors.
BOverseas investment projects
The applicant shall submit its project application to Chongqing Municipal Development and Reform Commission. The application shall need another four copies:
(I)The project application shall include the following content and attachments:
1. The name of the project, and the basic information of every investor;
2. The project's background and the information of investment circumstance;
3. The construction scale of the project, the main content to be constructed, the products, the target market, the project's benefit, and the risk.;
4. The total investment, the investment amount of every investor, the method of investment contribution, the finance plan, and the amount of use foreign exchange;
5. When the purchase and mergence and mutual share-holding are concerned, the specific information about the company to be purchased and merged or the company to hold the shares shall be provided;
(II)The application shall include the following attachments
1. The board's decision or the relevant decision for investment;
2. The files for the evidences of capitals, business, and credit worthiness of the Chinese investor and the foreign collaborator.;
3. The letter of financing intent, provided by the bank concerned;
4. If the investment results from the marketable securities, physical goods, intellectual property, technology, share ownership, creditor's rights and other beneficial entitlement to property,the investment amount will be ascertained according to the evaluated value or the fair and equitable value. The application shall also contain the asset assessment statement by the relevantly qualified accountants, asset assessment bodies or other intermediate bodies, or the third side's file, which can provide evidence for the relevant beneficial entitlement of property.
5. For the projects of bidding, purchase and merge, or joint venture, the intent letters signed by the Chinese and foreign investors, or the files like the framework agreement shall be provided;
6. For the projects of overseas purchasing or contesting for bid, the application shall include the information of the investment bodies, the background of project investment, the location and field of investment, the planned scale of investment, the construction scale, and the schedule of the project. In addition, relevant confirmation shall be attached.
V. Conditions for projects to be approved:
AForeign investment projects
(I)They shall be in accordance with laws and regulations of the state, Catalogue for the Guidance of Foreign Investment Industries, Catalogue of Priority Industries for Foreign Investments in Central and Western Areas;
(II)They shall be in accordance with the requirements of the development planning of the state's economics and society, the vocation planning, and adjustment of industrial structure;
(III)They shall be in accordance with the public interest and the relevant provisions of the state's anti-monopoly;
(IV)They shall be in accordance with the requirements of the planning of land use, the general city planning, and the policies of environmental protection;
(V)They shall be in accordance with the standards and requirements of technology and techniques, prescribed by the state and Chongqing municipality;
(VI)They shall be in accordance with relevant regulations of administration of projects and foreign loans.
BOverseas investment projects
(I) They shall be in accordance with laws, regulations and industrial polices of the state; they shall not be harmful to the sovereignty, security and public interest of the nation; they shall not be against the rules of laws of nations;
(II) They shall be in accordance with the requirements for the sustainable development of economics and society; they shall be beneficial to the strategic resources needed for the economic development of the state; they shall be beneficial to the requirements of industrial adjustment; and they shall boost the absorption of foreign advanced technology, the labor export, and the import of technology, products and equipments;
(III) They shall be in accordance with the administrative regulations of capital accounts and foreign loans;
(IV) The investment body shall have the correspondent investment strength.
VI. The procedure for projects to be approval:
1. Application handling. The office of Chongqing Municipal Development and Reform Commission is the especial "window" that handles all the project application; the foreign economy and trade office of Chongqing Municipal Development and Reform Commission is responsible for the application of foreign and overseas investment projects. If the application materials provided by the applicant is not in accordance with relevant requirements, the applicant will be informed by the written notice within five work days since the day when the application is handled, and the written note will tell the applicant whether the application has been handled, or inform him of the materials to be added or corrected. If the materials for the application are in accordance with requirements, the supervising administrative authorities of investment shall formally accept it and provide the acceptance note. The acceptance day is the day when all the needed materials are provided.
2. Verification for the approval
(1)Experts' advice. Within 4 work days after the supervising administrative authorities of investment have formally accepted the project application, they shall entrust, if necessary, the qualified advisory bodies to appraise all the projects that Chongqing municipality is authorized to approve; at the same time they shall inform the applicant of the time the consultation will take.
(2)Advice from other authorities. When the supervising administrative authorities of investment are verifying the projects, they shall consult the relevant authorities when supervising authorities of other vocations are concerned. The relevant authorities shall respond with written opinions within 7 days. If they don't respond within 7 days, they are regarded to have no opinions.
(3)Hearing or experts' appraisal. When the investment project that has a comparative big influence on the public interest is being verified, proper advisory ways like hearing shall be adopted. The project of special importance shall be appraised by experts.
3. Decision about approval. After opinions from all sides have been summed up, the decision to approve or not shall be made, and a relevant document shall be given.
(1) As to the approved project, the approval document shall be given to its applicant, and at the same time the relevant authorities shall get the copies. The approval document shall specify the construction content, the construction scale, the technological plan, the construction location, the total investment, the reasonable time limit of project, the invitation of public bidding, supervision, and other basic requirements for project supervision and examination.
(2) As to the project that has not been approved,the letter with negative decision shall be given to the applicant who will be explained why it has not been approved. And the relevant authorities shall get the copies.
VII. The period for verification and approval:
1.The projects our commission is authorized to approve shall be decided within 20 work days since the day when their applications are formally accepted(not including the time to verify and consult the relevant authorities). The applicant shall be informed in time of the decision of negative or positive approval. If the decision for negative or positive approval cannot be made within 20 workdays due to special reasons, the period can be extended to be 30 workdays after the charge hand of the commission approves it, and the applicant shall be informed by written materials why the period has been extended.
2. Projects only the state is authorized to approve shall be given preliminary verification opinions within 20 workdays since the day when qualified materials are accepted. The application materials and the preliminary verification opinions shall be transmitted to the state council's supervising administrative authorities of investment.
VIII. Persons to contact:
Zhang Chi and Liu Yan,Tel:63899650,63899651
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