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Legal Update

NDRC Proposes to Amend and Simplify Outbound Investment Rules

27 April 2016
Mayer Brown JSM Legal Update

To facilitate Chinese enterprises investing overseas, the National Development and Reform Commission (NDRC) issued a draft rule to relax the approval regime for outbound investments for consultation – the Draft NDRC Decision on Revising the Administrative Measures on Approval and Record-filing of Outbound Investment Projects/国家发展改革委关于修订《境外投资项目核准和备案管理办法》的决定(公开征求意见稿)(the "Consultation Draft"). The consultation period will end on 13 May 2016.

The current NDRC approval framework for outbound investments is based on the Administration Measures on Approval and Record-filing of Outbound Investment Projects/《境外投资项目核准和备案管理办法》(the "Measures") promulgated in 2014. The Measures apply to all outbound investment projects of Chinese enterprises. Compared with the regulatory guidelines prior to 2014, the Measures already marked a significant move by the Chinese government to simplify the approval and filing requirement for outbound investments, making record-filing the default rule and mandating government approval only for sensitive projects. The issuance of the Consultation Draft demonstrates the government's determination and willingness to further relax the restrictions on outbound investments.

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