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NDRC launches online investment project platform
Practical Law UK Legal Update w-006-4205 (Approx. 3 pages)
NDRC launches online investment project platform
| Published on 17 Feb 2017 • China |
The NDRC has officially launched a new national online platform for carrying out the verification and record-filing of projects involving the investment and construction of fixed assets in China.
On 25 January 2017, the National Development and Reform Commission (NDRC) issued the Notice on the Formal Operation of the National Investment Project Online Approval and Supervision Platform (国家发展改革委关于全国投资项目在线审批监管平台正式运行的通知).
The launch of the online platform, the National Investment Project Online Approval and Supervision Platform (全国投资项目在线审批监管平台), marks the implementation of Article 4 of the State Council's Rules on the Administration of the Verification and Record-filing of Enterprise Investment Projects (企业投资项目核准和备案管理条例), which requires the relevant authorities to carry out verification and record-filing formalities for fixed asset investment projects in China through this online platform, using a unique code generated for each investment project.
For more information on the rules, see Legal update, State Council issues rules on fixed asset investment project verification and record-filing.
According to the notice, from 1 February 2017 the verification and record-filing of investment projects, except for investment projects that involve state secrets, must be carried out through the online platform (Article 1).
The notice also requires:
- All government departments to use the project code generated on the platform in discharging their related administrative duties (Article 1).
- All regional governments to strengthen the operation, maintenance and security of the online platform and to accelerate the development of platform at the local level to ensure its smooth and efficient operation nationwide (Article 3).
Source: NDRC Official website: National investment project online approval and supervision platform officially launched (国家发展改革委关于全国投资项目在线审批监管平台正式运行的通知)