According to the relating PRC laws and regulations, overseas direct investment (ODI) conducted by Chinese enterprises are subject to approval or filing procedures with the National Development and Reform Commission (NDRC) or its local branches and Ministry of Commerce (MOFCOM) or its local branches before the investment is made, which aims to ensure the legal and compliant remittance of investment funds.

The Chinese enterprise shall be subject to approval or filing procedures depending on the type of ODI and type of domestic enterprise involved. The detailed requirements are as follows:

Type of ODI	Type of Domestic Enterprise	MOFCOM	NDRC
ODI involving sensitive countries or regions, sensitive industries	Regardless of central enterprise or local enterprise	Approval by MOFCOM	Approval by NDRC
Non-sensitive ODI	Central enterprise	Filing with MOFCOM	Filing with NDRC
	Local enterprise, the investment amount of Chinese investor is USD300 million or above	Filing with local branch of MOFCOM	Filing with NDRC
	Local enterprise, the investment amount of Chinese investor is less than USD300 million	Filing with local branch of MOFCOM	Filing with local branch of NDRC

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