Zhejiang delegates approval authority over foreign investments to lower levels

It is learned from the Provincial Development and Reform Commission that foreign-invested projects falling under encouraged and permitted categories with a total investment (including increased capitals) less than $ 0.1 billion can be now authorized directly by development and reform commissions (bureaus) at the municipal (county) level or by administrative committees of state-level economic and technological development zones.

The approval authority of the Hangzhou Municipal Development and Reform Commission is to be extended to projects with a total investment under $ 0.2 billion.