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China eases govt checks on 38 investment projects

Updated: Nov 18,2014 3:57 PM

In a move to cut down on bureaucratic procedure, the State Council has issued a new catalog that aims to relax the government approval process required for investment projects.

According to the latest 2014 version of the catalog, dubbed “Investment Projects Subject to the Approval of Government,” 38 projects on the list, including iron and steel making, interprovincial water diversion projects, will undergo minimal project checks by the National Development and Reforms Council. According to the catalog, the move reduces administrative procedures by 40 percent compared with the red tape reduction from last year.