Interim Measures for the Reporting of Outbound Investments Subject to Record-filing or Approval
Scope of Application
Measures for the Ministry of Commerce (MOFCOM), developers, and contractors.
Purpose
Offers specific guidance to illustrate MOFCOM's role and requirements for companies to report information.
General Key Points
Developers and Contractors should:
- Report information about compliance with local laws and regulations.
MOFCOM should:
- Warn, admonish, record, and notify the public about developers’ illegal acts.
- Enforce penalties in the “National Enterprise Credit Information Publicity System” if companies do not follow measures regarding recording and reporting project information.
Key Points on Stakeholder Engagement
Developers and Contractors should:
- Submit reports on their progress and the key problems the projects face, compliance with local laws and regulations, protection of natural resources and the environment, efforts to safeguard workers’ rights, and fulfillment of social responsibilities.
Applies to
Global
Date
January 2018
Issuer(s)
Ministry of Commerce (MOFCOM); People's Bank of China (PBOC); State-owned Assets Supervision and Administration Commission of the State Council (SASAC); China Banking Regulatory Commission (CBRC) and China Insurance Regulatory Commission (CIRC) (now China Banking and Insurance Regulatory Commission (CBIRC)); China Securities Regulatory Commission (CSRC); and State Administration of Foreign Exchange (SAFE)