Asia Society Policy Institute

NDRC develops and implements strategies and plans for national economic and social development, tracks how Chinese economic engagement overseas affects domestic macroeconomic trends, and regulates and approves large investment projects in coordination with other ministries.

NDRC must approve natural resource investments over $300 million; non-natural resource investments over $100 million; investments in war zones, countries without diplomatic relations with China, and countries under United Nations (UN) sanctions; and investments related to infrastructure, telecommunications, cross-border water utilization, large-scale land exploitation, electricity networks, and news media.

Local Development and Reform Commission (DRC) offices can approve most projects proposed by subnational state-owned enterprises (SOEs) and private-owned enterprises (POEs). These Local DRC offices must inform NDRC of natural resource investments between $30 million and $300 million, as well as non-natural resource investments between $10 million and $100 million. However, Local DRC offices can independently approve natural resource projects between $30 million and $300 million.

Adapted from National Development and Reform Commission (NDRC), “Main Functions of the NDRC,” accessed in 2022, View the Website; Thomson Reuters: Practical Law, “Glossary: National Development and Reform Commission (NDRC) (国家发展和改革委员会),” accessed in 2022, View the Website; Thomas Hale, Chuyu Liu, and Johannes Urpelainen, “Belt and Road Decision-Making in China and Recipient Countries: How and to What Extent Does Sustainability Matter?,” ISEP & BSG Report, April 2020, View the PDF.