Outbound investment procedures
Which domestic procedures apply to investment in an overseas plant?
Applies toChinese enterprises establishing, acquiring or increasing investment in an overseas manufacturer
Usually three separate processes apply: NDRC project approval or filing, commerce-authority approval or filing, and foreign-exchange registration with a bank.
Project classification
Check destination, industry and Chinese investment value. For a non-central enterprise’s direct non-sensitive project below US$300 million, file with its provincial development and reform authority.
Commerce approval or filing
File with MOFCOM or the provincial commerce authority, as applicable, to obtain the Enterprise Overseas Investment Certificate. Sensitive cases require approval.
Foreign-exchange registration
Apply to a local bank for outbound direct investment FX registration. Prepare approval/filing documents, business licence, funding evidence, spending plan and investment resolutions.
Outbound investment procedures and application documents
| Process | Authority and timing | Application documents |
|---|---|---|
| NDRC project approval / filing | NDRC approves sensitive projects. For direct non-sensitive projects, NDRC handles central enterprises and non-central projects of at least US$300 million; provincial authorities handle the remainder. Obtain the document before committing assets, rights, financing or guarantees for projects in scope. | Project filing form or application report with prescribed attachments, identifying investor, destination, scope, scale and investment value. The official forms specify attachments. |
| Commerce approval / filing | MOFCOM handles central-enterprise filings; provincial commerce authorities handle other enterprises. Sensitive countries, regions or sectors follow approval procedures. | Basic filing materials are the stamped outbound investment filing form and a business-licence copy. Approval additionally involves an application, contracts/agreements and, where relevant, permission for restricted product or technology exports. |
| Bank FX registration | Non-bank domestic institutions register with a local bank before contributing capital. Preliminary expenses have separate registration and remittance rules. | Application form, business licence, relevant approvals/filings or no-objection documents, funding-source evidence, spending plan and corporate investment resolutions. |
Related policies and standards
- State Council Provisions on Outbound Investment (Order 837)Articles 12–14; effective 2026-07-01
- Administrative Measures for Enterprise Outbound Investment (NDRC Order 11)Articles 13–14, 18–20, 29 and 32
- Administrative Measures for Outbound Investment (MOFCOM Order 3 of 2014)Articles 6–10
- Capital Account Foreign Exchange Business Guidelines (2024)Attachment, sections 8.1 and 8.2; SAFE Circular 12 of 2024
- Supporting outbound-investment application forms (2018)Application report, filing form and attachment lists