China set up 8300 non-financial enterprises overseas

As Zhao Chang, deputy-director of the Department for Foreign Cooperation of the Ministry of Commerce revealed on 26 April, up to now a total of around 8300 non-financial enterprises have been set up overseas, of which more than 6000 survived with some 70 percent of them in normal operation and almost half of them have already reaped benefits.

The data obtained above owe much to the establishment and improvement of the management system for overseas investment. As introduced the Ministry of Commerce has, in coordination with other departments concerned worked out five regulations for the overseas investment management since 2003.

The first is the statistic system for direct overseas investment (jointly issued with the State Statistic Bureau), mainly indicating the basic situation of the Chinese enterprises in overseas and their investment main-bodies in China as well as the main economic activities of these enterprises in overseas and so on. The second is the joint annual examination and checkup system for overseas investment and the system for appraisal of the accumulated achievements (jointly issued with the State Administration of Foreign Exchanges), making an examination on the five such targets as benefit of enterprise asset operation, asset quality, solvency, development ability and social contribution. The third is the filing system on the net for exploration of oversea mineral resources (jointly issued with the Ministry of Land and Resources). The fourth is the pre-report system for the mergence and acquisition of enterprises in overseas (jointly issued with the State Administration of Foreign Exchanges) and the fifth is the report system in regard of the countries in which there exist the overseas investment barriers (issued by the Ministry of Commerce).

By People's Daily Online