The Ministry Of Commerce And Development Of The NDRC Is Involved In &Nbsp; The Acceleration Of Overseas Investment Legislation.

In the Libya crisis, China's billions of dollars of investment have vanished. The US hunt for China's concept stocks has evaporated tens of billions of dollars. Coupled with the internal strife in Egypt, the violence in Thailand, the debt crisis in the European Union, a series of risk factors from the political, financial, economic and social fields are making the internationalization environment of Chinese enterprises more complicated.

Recently, the State Council issued the communiqu. The State Council approved the development and Reform Commission to deepen in 2011. economic system The notice on the reform of key work points includes the institutional reform focusing on the prevention and control of overseas investment risks and facilitation services. According to the requirements of the notice, the above matters will be held by the national development and Reform Commission and the Ministry of Commerce. The risk prevention of Chinese enterprises in overseas investment is being taken seriously from the state system level.

Foreign investment risks attract national attention

In the key work of deepening the economic restructuring in 2011, the NDRC proposed. Overseas investment The security issue has been put on a higher level. Eighth of them emphasize the need to speed up the improvement of overseas investment laws and regulations, deepen the reform of management system centered on investment facilitation, improve inter departmental coordination mechanism, and improve relevant policies and service systems supporting "going out". We should establish and improve the risk prevention and control mechanism for overseas investment, improve the risk early warning system and emergency response mechanism.

An insider, who declined to be named, told the China business newspaper, "in fact, the SASAC and the Audit Commission have high concerns about the safety of overseas assets, but the two departments focus on the supervision of the state-owned enterprises going out. This strong adjustment comes from the NDRC and the Ministry of Commerce, and has taken care of a large number of SMEs. overseas investment The problem also involves the help and support of the state.

This has been seen in recent years by the departmental regulations promulgated by the NDRC and the Ministry of Commerce. "For example, the Announcement No. 235th of the NDRC" early this year on the work of approving the powers of delegating overseas investment projects "has delegated the approval authority for overseas investment projects of Chinese enterprises and greatly relaxed the restrictions on overseas investment of Chinese enterprises.

Tim Stratford (Xia Zunen), partner of Beijing Representative Office of Covington burling law firm, told reporters: "after the Ministry of Commerce issued the guide to foreign investment cooperation countries (regions), we introduced the investment environment of various host countries, and fully understood the legal, economic and political environment of the host country when they went out. It provides a guide for reducing the operational risks of overseas investment, improving the level of decision-making and self assessment.

There are indications that China is embarking on the layout of the risk control system for overseas investment.

Country risk study needs to be further studied.

Wei Po, chairman and chief executive officer of Daxin Greater China, the world's largest insurance broker and Risk Management Inc, points out: "buying insurance is just a way to transfer risks. For Chinese companies, it is more important to understand positively what risks they are facing."

Zhang Jianping, director of the Macroeconomic Research Institute of the development and Reform Commission, told reporters: "the proportion of Asian and African enterprises in China's investment abroad is very large, while the investment in Europe and America is also increasing. However, there are great differences in risks in different regions. For example, the general problems in Asia, Africa and Latin America are low administrative efficiency, backward infrastructure, and poor transparency of government regulations. There are countries in various countries. China's investment needs urgent professional country risk guidance. "

For this professional country risk, Zhang Jianping thinks that the Ministry of Commerce's "guide to foreign investment cooperation countries (regions)" has made a good start, but due to the limited general research and basic introduction, it is far from enough for enterprises to guide the practice.

Zhang told reporters: "South Korea's national strength is not strong, but its enterprises in overseas investment has made great achievements, and its in-depth national research has an important relationship. Korea's Institute of foreign economic policy is an important assistant for Korean enterprises to explore the international market. It is also an important think-tank for the state to formulate corresponding foreign strategies. Within them, it is divided into different research groups, each research group will make persistent and long-term follow-up to a country for more than ten years, and their research on China, Latin America and Africa is very deep. The key to success in these areas is "

"In Japan, the international cooperation development bank also takes national research as an important task. It collects various changes in the political, economic and social environment of various countries every year, and then makes analysis, and finally makes overseas investment reports available to enterprises."

"Compared with the improvement of overseas laws and regulations, in-depth and meticulous research on country risk is more urgent." Zhang Jianping said. Shortly before, CIC, once heavily criticized by overseas investment, has realized the importance of country risk research and took the initiative to produce some funds for special research. The National Development Bank also began planning the investment destination countries, and began to study them in depth.

"In fact, the national finance should also take part of the funds, on the one hand, do in-depth research on country risks, and on the other hand, we can make research based on the continuous investment risk of the industry." Zhang Jianping said.

Legislation on schedule {page_ Break}

Li Chenggang, deputy director of the treaty and Law Department of the Ministry of Commerce, told reporters that "most of the laws and regulations governing overseas investment in China are departmental rules and regulations, and there is no systematic law and regulations."

In this case, because of the management of different sectors involved in overseas investment, the intervention of the various departments of the NDRC, the Ministry of Commerce, the SASAC, the Ministry of Finance and the safe and other rules and regulations, not only greatly delayed the efficiency of overseas investment, but also inevitably appeared conflicts or vacuum zones between departmental rules and regulations.

During the two sessions this year, the National Federation of industry and Commerce submitted a proposal on promoting the "going out" of Chinese enterprises by formulating relevant regulations and improving the protection agreement because of the confusion of China's current laws and regulations on overseas investment. It suggested that the State Council's overseas investment promotion regulations be formulated as soon as possible, and the existing departmental rules and regulations should be cleaned up and integrated.

Clean-up rules and regulations are urgently needed to be put on the agenda, but what kind of laws will eventually lead them? Li Chenggang told reporters, "everything is still being proposed." However, he stressed that laws should be the first and not the law. This means that the early integration is likely to be a State Council regulation.