The National Development and Reform Commission ("NDRC") has recently issued the Administrative Measures for Investment in Postal Infrastructure Projects Within the Budget of the Central Government (the "Measures"), immediately effective from the issue date and valid until December 31, 2020.
The Measures stipulate that investment arrangements within the budget of the central government shall be made under principles of being consistent with the planning, undergoing complete formalities, keeping the progress under control and having effective oversight, and infrastructure projects aimed at boosting the postal public service capacity will be prioritized. Further, the Measures explicitly state that directly scheduled investment projects shall be included into the planning approved by the State. Where a project is in need of investment of CNY50 million or more from the budget of the central government, its feasibility study report shall be directly examined and approved by the NDRC, according to the Circular of the National Development and Reform Commission on Delegating the Power to Examine and Approve Some Transport Projects and Streamlining Examination and Approval Formalities and other rules. Additionally, it is required to work out five-year work plans for investment projects financed with bundled subsidies granted by the NDRC, to make clear purposes of investment subsidies, objectives, extent of support, construction content, subsidy standards and so forth. Moreover, the Measures emphasize that entities undertaking projects shall not alter the major construction content, the scale or standards of construction, or ways to raise funds without authorization.