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CIRCULAR OF THE STATE COUNCIL CONCERNING THE EXTENSION OF THE LIMITS OF POWER VESTED WITH THE INLAND PROVINCES, AUTONOMOUS REGIONS, MUNICIPALITIES SEPARATELY LISTED IN THE STATE PLAN AND THE DEPARTMENTS CONCERNED UNDER THE STATE COUNCIL IN EXAMINING AND APPROVING FOREIGN INVESTMENT ABSORPTION

    With a view to further implementing the policy of opening to the outside
world and to promoting the all-round development of the national economy, the
State Council has decided to appropriately extend the limits of power vested
with the inland provinces, autonomous regions, and municipalities separately
listed in the state plan, the relevant ministries and commissions under the
State Council, and the State Bureau of Building Materials Industry, the State
Administration for Medicine, the State Bureau of Technology Supervision, the
State Administration for Environmental Protection, the Civil Aviation
Administration of China, the National Tourism Administration, the National
Bureau of Oceanography, the National Meteorological Bureau, the State
Seismological Bureau, and the Chinese Academy of Sciences in examining and
approving foreign investment. With respect to productive projects developed
by absorbing foreign investments, provided these projects are in conformity
with the investment orientation stipulated by the state, their conditions of
construction and productive operations as well as their foreign exchange
income and expenditure do not require comprehensive balance to be conducted
by the state, and the export of their products does not involve export quota
or administration of export licences, the present limits of authority vested
with the aforesaid localities and departments in examining and approving
projects with a total amount of investment of five million U.S. dollars or
below each shall be extended to ten million U.S. dollars or below each. After
approval, the projects shall be reported to the State Planning Commission for
the record.

    Where enterprises with foreign investments are set up by people's
organizations, their applications shall be examined and approved by the
province, autonomous region, municipality directly under the Central
Government, or municipality separately listed on the state plan, where the
said enterprises are located.

    This Circular shall become effective as of the date of promulgation.?