ANNOUNCEMENT 06 Sep 2014
In September 2014, the government of China announced a change of rules on investments leaving the country.
NUMBER OF INTERVENTIONS
PRC Ministry of Commerce, September 6th 2014. (商务部令2014年第3号《境外投资管理办法》)
On 6 September 2014, the Ministry of Commerce amended the Measure on the Management of Overseas Investment (see related measure). With the amendments, the Ministry seeks to promote further overseas investment. (MOFCOM Order '2014' No.3) The amendment reduces the types of investments subject to federal or provincial government control.
According to Art.6 of the Amendment, overseas investment shall only seek approval by the relevant provincial commerce department if it is in sensitive countries or sectors.
According to Art. 7 of the Amendment, overseas investment shall only seek approval by the MOFCOM, if it is in countries without diplomatic relationship with China, or sanctioned by the United Nations, or involves goods or technologies restricted from exportation.
Under the earlier regime, further conditions e.g. related to the transaction volume applied (see related measure).