National Development and Reform Commission, Verification of Enterprise Investment Projects Tentative Procedures

Promulgated: September 15 2004
Effective: as of date of promulgation. In case of a conflict between the stipulations related to the administration of the examination and approval of enterprise investment projects previously issued and the Procedures, the Procedures shall prevail (Article 31).
Interpreting authority: National Development and Reform Commission
Applicability: Verification procedures for foreign-invested projects and overseas investment projects will be provided separately, investment in and establishment of projects in China by other types of enterprises shall be implemented in accordance with the Procedures (Article 4).

Main contents: The state formulated and promulgated the Investment Projects Subject to Government Verification Catalogue (hereafter, Catalogue) to specify the scope of investment projects under the verification system (Article 2). Enterprises investing in and establishing projects subject to the verification system shall formulate project application reports in accordance with the relevant state requirements and submit the reports to project verification authorities (Article 3). Part Two concerns the content and formulation of project application reports and Part Three verification procedures. Local government departments in charge of investment, State Council departments in charge of the relevant industry, the State Council department in charge of investment and the State Council are responsible for verification of different types of investment projects (Article 10). The conditions under which examination of projects by a project verification authority are based include compliance with national economic and social development plans, industrial plans, industrial policies, industry entry standards and the overall plan for land use, and compliance with state macroeconomic adjustment and control policy (Article 18). Project verification documents shall be valid for two years from the date of issue. For projects that have not yet commenced construction during the period of validity of the verification documents, the project work unit shall apply to the original project verification authority for an extension of 30 days prior to the expiry of such verification documents. Otherwise, the original project verification documents shall automatically become void (Article 20).
Related legislation: PRC Administrative Licensing Law and State Council, Reform of the Investment System Decision, Jul 16 2004, CLP 2004 No.8 p6