Global Trade Alert

On 20 March 2011, the Xinjiang Autonomous region in China announced it would further delegate its foreign investment approval authority to lower levels of government. In the future, those foreign investment projects that amount up to 100 million U.S. dollars will be under approval by prefecture and municipal-level development- and reform commissions.
 Before the reform, only those foreign investment projects that are worth equal or less than 30 million U.S. dollars were under the approval of prefecture and municipal-level development and reform commissions, whereas those foreign investment projects which were worth more than 30 million U.S. dollars were under the approval of Xinjiang Development and Reform Commission.