On April 16, the Ministry of Commerce ("MOFCOM") sought public comments on revising the Administrative Measures for Outbound Investment, and the cut-off date for submitting comments is May 15.
According to the draft revision, where an enterprise's outbound investment involves a sensitive country (region) or a sensitive industry, such outbound investment shall be filed with the MOFCOM for approval; and the enterprise's outbound investment under other circumstances shall be filed with the MOFCOM and the local commerce administrative department at the provincial level for the record. In addition, where an enterprise applies for approval for its outbound investment, the following materials are required to be submitted: an application form, the outbound investment-related contracts or agreements; in the case of outbound investment involving the use of products or technologies restricted from export, the materials evidencing the agreement on the export of such products or technologies by the related authorities; and a copy of the business license of the enterprise.