As of March 1, the principle “market entities can do anything which are not prohibited by the law” will be carried out for enterprises to invest in Guangdong. As for administrative approval and supervision, the government must perform our legal obligations, and refrain from exercising powers that are not provided by law.

 

On the afternoon of February 27, the provincial news office held the 6^th press conference on “Comprehensively Deepening the Reform.” The Opinions on Carrying out List Management for Investment Projects of Guangdong-based Enterprise (Trial), Negative List for Admittance of Enterprises’ Investment Projects, Administrative Approval List and Governmental Supervision List were released at the conference. The Opinions will come into force as of March 1, 2005.

 

It is the first Negative List for Admittance of Enterprises’ Investment Projects in China. Guangdong is the first pilot province for enterprise investment management system reform approved by the National Development and Reform Commission (NDRC), and China’s only province that carries out the pilot operation of the Negative List for Admittance of Enterprises’ Investment Projects.

 

In February, NDRC approved Guangdong’s pilot operation of the Negative List for Admittance of Enterprises’ Investment Projects and the submitted Opinions and Lists in principle, and demanded the province to explore channels, accumulate experience and offer demonstrations for the nationwide unified performance of the Negative List for Admittance of Enterprises’ Investment Projects through 1-2 year-long pilot operation.

 

The Opinions comprises the text and three lists, said Li Chunhong, director-general of Guangdong Provincial Development and Reform Commission. According to the the principle “market entities can do anything which are not prohibited by the law,” the Opinions lists the investment items which are prohibited and admitted upon approval. Admittance upon commitment and informative registration will be performed for items not in the negative list based on the actual situations to further relax the investment control to enterprises, especially private enterprises.

 

The definite administrative approval list unifies the items, approval standards, item codes and online transaction concerning governmental approval jurisdictions and standards as well as enterprise investment process optimization at the provincial, municipal and county levels.

 

To establish the governmental supervision list will streamline investment entities’ conducts, strengthen the supervision during and after enterprises’ investment, effectively combine the investment management with social credit and market supervision systems to carry forward classified, coordinated credit and social supervision.

 

“The three lists are dynamic means, and will be continuously deepened with the reform progress, and timely amended according to national policy adjustment and Guangdong’s economic and social development. They will be adjusted at least once each year, and the new lists will be publicized before each yearend, ” said Li Chunhong.

 

Source: Nanfang Daily, February 28, 2015