When will enterprises cancel the "path" for overseas investment from next year?

On February 26th, 65438, the National Development and Reform Commission promulgated the Measures for the Administration of Overseas Investment of Enterprises (hereinafter referred to as the new measures). The new measures shall come into force on March 20 18, and the Administrative Measures for the Approval and Filing of Overseas Investment Projects (hereinafter referred to as the "Old Measures") promulgated on March 20 1 4 will be abolished at the same time. Comparing the old and new methods, we can find that the new method relaxes overseas investment, cancels the "small path" system and the reporting and forwarding procedure of the provincial development and reform commission, and extends the validity of the approval documents and filing notices, but strengthens supervision, which is no longer limited to "approval" and "filing" beforehand, but covers things in and after the event.

Wang, a partner of Beijing King & Wood Law Firm, said that the original intention of the "alley" system was to prevent vicious competition among enterprises in China, but in practice, especially in overseas bidding projects, the "alley" system affected the transaction certainty and timetable of China enterprises, which made China enterprises at a disadvantage compared with other overseas bidders in overseas bidding projects and had to pay extra "China cost". According to Zhao Qing, chief consultant of Mei Sen, and Chen Dajiang, managing partner of Pantech Capital, canceling the "small path" system is a major measure of the National Development and Reform Commission to "simplify administration and decentralize power".

In order to further improve the convenience, the new method also cancels the local preliminary examination and reporting link, and clearly stipulates that local enterprises can apply directly to the National Development and Reform Commission. In this regard, Zhao Qing said that this is a great benefit for domestic entities registered in second-and third-tier cities, which can reduce the risk that the company will default on the approval time in China and lead to the reverse payment of the breakup fee.