China details regulation on business investment management
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New rules on the management of business investment projects have been released in China.

The 24-clause regulation says business projects that fall into the categories related to national security, development of strategically important resources and major public interests will require prior government approval.

The approval should not take more than 20 working days.

Projects outside the stated sectors will require a less stringent filing process, to be put on record only.

The regulation will be effective from the beginning of February.

The decision is part of a wider drive by the government to streamline administrative procedures to invigorate growth.

Partly due to a series of reforms, China is on track to deliver its annual growth target range of 6.5 to 7 percent for the year.

Author： 　　　Source：CRI　　　 Editor：Yang Fan