Business - How are foreign-invested projects classified according to this regulatory system?
According to the Catalogue for the Guidance of Foreign Investment Industries, the National Development and Reform Commission (NDRC) is responsible for examining the application report of a project with a total investment (including capital increase) of US$100 million or more in the "encouraged" or "permitted" categories or of US$50 million or more in the restricted category. The provincial development and reform departments are responsible for a project with a total investment (including capital increase) of less than US$100 million in the encouraged or permitted category or of less than US$50 million in the "restricted category." Projects in the restricted category shall be examined by provincial development and reform departments and in no case shall this approval authority be delegated to lower levels for whatever reason or by whatever means.
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