Investment approval for firms eases
(Shanghai Daily)
Updated: 2007-06-07 10:40
China eased the approval process for state-owned companies investing abroad
as the government tries to narrow the surplus of incoming payments from
overseas.
State-owned companies investing less than US$30 million in
overseas resource-exploration projects may apply directly to the central
government's National Development and Reform Commission, the agency said on its
Website yesterday. Other types of cross-border investments have a threshold of
US$10 million. Approval previously had to go through local-level affiliates of
the agency.
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