CHINA SYSTEM · OPERATING LOGIC
Read the concept through its operating structure
NDRC governs the outbound project
The development-reform route applies approval, filing or reporting based on direct/indirect investment, sensitivity, central/local investor and Chinese investment amount.
Commerce authorities govern the destination entity
Commerce authorities approve or file the final destination entity based on sensitivity. This entity-based process differs from NDRC project management and cannot substitute for it.
Bank FX registration and remittance are the capital gate
After regulatory documents, the company registers ODI FX at a bank and remits funds. The bank still checks authenticity, source of funds, resolutions, contracts, beneficial owners, sanctions and AML.
SOEs, finance and technology add procedures
SOEs add state-asset and internal approvals; financial institutions, listed firms, controlled technology and major M&A may trigger financial, disclosure, export, competition and security procedures.
Korea must separate investment intent from remittable capital
For Korean inbound deals, align board/controller approval, NDRC and commerce status, bank and source of funds, investor/destination and Korean review; separate intent, filing, certificate, FX registration, remittance and capital registration.