China to launch online platform to review investment plans

Entrepreneurs in China will soon be able to submit their investment plans online instead of physically going to different government bodies, state-run news agency Xinhua reported.

The news agency quoted Hu Zucai, Deputy Director of the National Development and Reform Commission, saying that the online platform will be available “within this year”.

The website will allow different public bodies – including those responsible for economic planning, urban planning, land resources management and environmental protection – to review the proposals at the same time, Mr Hu said over the weekend, according to Xinhua.

The Deputy Director of China’s central planning agency said the online platform would make the approval process “more convenient and transparent”.

Mr Hu said China would continue to streamline the administrative procedures related to investment approvals.

According to Xinhua, investment plans in China currently have to get more than 30 approvals from nearly 20 different government departments.