Chongqing standardizes overseas investment of SOEs

Chongqing State-owned Assets Supervision & Administration Commission has issued documents on standardized administration of overseas investment of SOEs in Chongqing.

According to the documents, in terms of project selection, overseas investment must conform to the demands of industrial development and enterprises’ strategic development as well as focus on projects like underground mineral resources, special surface resources and advanced assembly technology.

SOEs should take full account of current political and economic status of the project-host countries and their laws, policies, religion, culture, etc. before investment. In addition, comprehensive and detailed investigation should be conducted for investment projects so as to develop related protective measures for potential risks.

Besides, the documents also specify the relevant affairs including foreign transfer, dismissal, liquidation, insolvency and donation of SOEs in Chongqing to ensure the safety and efficiency of overseas state-owned assets.

Huang Xiqin