Cf. also Preferential bank LEGAL RISK ASSESSMENT II Loans and WTO concerns Chinese regulatory Approvals for Outbound Investments National Development Commission (NDRC) Filing requirements(provincial branch)<300m US S File with ndrc direct> 300m US S Approval for investments>1 bn Uss or sensitive countries or industries Approval by state Council >2 bn US S or sensitive countries or industries Cf provincial govmts. .MOFCOM: inter alia investment agreement/contract ' State Administration of Foreign Exchange(saFe) -Rules for State-owned Enterprises Shanghai Exchange/Natural Persons/Industry-specific CESLELECTIVE-APRIL2016 15CESL ELECTIVE - APRIL 2016 15 LEGAL RISK ASSESSMENT II ►Chinese Regulatory Approvals for Outbound Investments ▪National Development Commission (NDRC) Filing requirements (provincial branch) < 300m US $ File with NDRC direct ≥ 300m US $ Approval for investments ≥ 1 bn US $ or sensitive countries or industries Approval by State Council ≥ 2 bn US $ or sensitive countries or industries ▪MOFCOM: inter alia investment agreement/contract ▪State Administration of Foreign Exchange (SAFE) ▪Rules for State-owned Enterprises ▪Shanghai Exchange/Natural Persons/Industry-specific Cf. also Preferential Bank Loans and WTO concerns Cf. provincial govmts