MOFCOM pushes FIVCIEs into record management

June 01, 2012 | BY

clpstaff &clp articles

A MOFCOM Notice forces FIVCIEs to record their investments with relevant ministries, but market participants don't think the move will deter foreign investors

The Ministry of Finance and Commerce (MOFCOM) issued its Notice on Improving Foreign-Invested Venture Capital Record Management (关于完善外商投资创业投资企业备案管理的通知) on May 7.

The Notice, which came into force on the same day, laid out rules to strengthen supervision and regulation of FIVCIEs.

The move echoes China's twelfth five-year plan to allocate more foreign investment to encouraged sectors and areas of national strategic importance, and comes as the government has been trying to lure more foreign investors into FIVCIEs, especially in emerging industries and modern service sectors.MOFCOM

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