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Mainland May Suspend Approval and Filing for Industries with Disorderly Competition
To further optimize the allocation of investment approval authority, enhance the convenience of investment services, strengthen whole-process supervision of investment projects, an...
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To further optimize the allocation of investment approval authority, enhance the convenience of investment services, strengthen whole-process supervision of investment projects, and expand effective investment, the General Office of the State Council recently issued the "Opinions on Deepening the Reform of the Investment Approval System", setting out relevant work arrangements.

Regarding the strict management of government-invested projects, the document proposes optimizing approval authority for such projects; strictly prohibiting the circumvention of approval procedures for government-invested projects through state-owned enterprises or other entities in the form of enterprise investment project approvals or filings; improving the system of project construction standards and investment budget verification standards, and strictly enforcing budget constraints; and implementing a lifetime accountability system for decision-making on government-invested projects.

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In standardizing the management of enterprise investment projects, the document mentions dynamically revising the catalogue of government-approved investment projects; promoting the standardization of project filing information and filing certificates, strengthening the review of the completeness of filing information and compliance with industrial policies; and enhancing coordination among enterprise investment management policies, industrial policies, and factor and funding management policies.

To improve investment approval efficiency and facilitate project implementation, the document points out the need to further advance the "one-stop approval" for fixed asset investment projects; further streamline approval items related to project construction applications, and consolidate parallel approval items handled by the same department; and strictly crack down on illegal activities such as evading tendering requirements, bid rigging, and fraudulent practices.

In strengthening project supervision and improving the evaluation system, it calls for establishing a comprehensive decision-making and performance evaluation system for investment projects that aligns with high-quality development requirements, effectively supporting investment decision-making and project management. (ta/w)

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This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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