No Prior Permits Needed for Certain Investment ProjectsThe State Development Planning Commission of China announced Wednesday that it would abolish the assessment and approval procedures for five types of investment projects in the country.This is just the first step the commission has taken to reform the administrative system for examination and approval, a commission spokesman said. The five project categories that no longer need a prior go-ahead are those involving urban infrastructure construction; agricultural, forestry and water conservancy projects that do not require investment from the central government; public projects built with independently raised funds; real estate development projects; and commercial and trading facilities. But it will still be necessary to obtain prior permits for those projects built with central government financing; projects related to development and use of strategic resources; major trans-regional projects; as well as projects which fall under the category of limited development according to the state's industrial policy, said the spokesman. In addition, the review and approval procedures will be further simplified, the spokesman said. |
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