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| However, large and massive land development projects fall under a restricted category, as do deals above $1 billion – requiring them to still obtain approval from the NDRC. Overseas projects worth over $2 billion need approvals from China’s State Council, along with a recommendation from the NDRC.
China’s relaxation in overseas investment rules is in tandem with its “go global” investment strategy and reform agenda, promising to free up the market by simplifying administrative controls. China’s global outbound foreign direct investment increased by 30% to nearly $100 billion in 2013 – of which $14 billion was invested in the US alone.2 Sources: 1. Reuters 2. China Daily |
