「国務院の投資体制改革に関する決定」

http://www.cnaec.com.cn/gongzuo/01/20040723.htm

「人民網日本語版」2004年7月23日

国務院が「投資体制改革に関する決定」を施行
http://j.people.com.cn/2004/07/23/jp20040723_41602.html

　国務院はこのほど「国務院の投資体制改革に関する決定」を公布・施行した。温家宝総理は19日に出した指示の中で、改革の基本的な出発点として次の4点を指摘した。

（１）リソース配分という市場の基礎的役割を十分に発揮させ、政府と企業とを分離し、行政による干渉を減らす必要がある。

（２）投資活動における企業の主体的地位を確立し、企業が自主的な投資を実行、損益に対する責任を自ら負い、銀行が自主的に資金貸付を審査し、自らリスクを負う体制を確立する必要がある。

（３）政府による投資の権限を合理的に画定し、発展計画や産業政策の制定を通じ、経済的・法律的手段を運用して社会投資を誘導する必要がある。

（４）政府投資プロジェクトの政策決定の規則と手順を改善し、投資政策決定の合理化・民主化レベルを向上させ、決定された投資政策に対する厳格な責任追求システムをうち立てる必要がある。

　国務院は22日にテレビ電話会議を開催し、投資体制の改革に向けた作業計画を行った。会議に出席した曽培炎副総理はスピーチの中で、改革の中で注意して把握すべき点として次の4点を強調した。

（１）投資管理制度の改革と、投資における企業の主体的地位の確立

　「投資者、決定者、受益者、リスク負担者の一体化」との原則に基づき、企業の投資における自主権を確立することが必要だ。企業が政府投資を利用しないで進めるプロジェクトに対しては、審査許可制度を取りやめ、状況に応じて承認制と登録制を実施する。大型企業の投資決定権を一層拡大し、企業投資プロジェクトの資金調達ルートを広げる。国は社会投資を奨励し、法制度で参入が禁止されていない産業や分野への社会資本の参入を認める。金融機関は固定資産の資金貸出制度を改革・改善し、自らの審査能力と水準を絶えず向上させ、金融リスクを着実に防止する。

（２）政府投資システムの改善と、政府投資による社会的な利益や効率の向上

　政府投資は主に、国の安全に関わる分野や、市場による効果的なリソース分配が不可能な経済的・社会的分野で行う。投資政策決定の合理化・民主化レベルを向上させ、決定された投資政策に対する責任追求システムを構築し、審査・許可の権限を合理的に画定し、審査・許可の手順を簡素化し、規範化するとともに、投資資金の管理を規範化し、プロジェクト建設の実施方法を改善することが必要だ。非営利の政府投資プロジェクトについては、企業に建設や管理を委託する「代建制」の推進を急ぐ。各クラスの政府が条件を整えて、公共事業やインフラ建設の投資プロジェクトに社会資本を導入する必要がある。

（３）投資へのマクロ調整の強化・改善と、全体的な均衡や構造最適化の促進

　経済的、法律的手段を総合的に運用し、必要な行政手段を取ることで、投資に対する審査や価格、金利、税収などの経済調整手段を活用し、社会全体の投資を間接的にコントロールする。計画や政策的指導、情報発表、市場参入許可などの規範化を通じて、社会投資の方向性を誘導する必要がある。

（４）投資への監督管理を強化と改善、投資と建設の市場秩序の規範化と維持

　企業投資、政府投資、投資仲介サービス機関に対する監督管理システムを構築し、充実させる必要がある。投資に関する法整備を強化し、法による取り締まりと監督を厳格に進め、さまざまな投資者の行為を法により規範化する。

China Economic Net　2004-07-23

State Council: Reform on investment system to go further
http://en.ce.cn/Business/Macro-economic/200407/23/t20040723_1314268.shtml

In his directions on the implementation of the State Council's Decision on Reform of Investment System promulgated recently (hereinafter referred to as Decision), Chinese Premier Wen Jiabao stressed that pushing this reform forward is of great significance for a perfect socialist market economic system and more effective macro-control.

He highlighted the fundamental purposes of the reform on the investment system. The core of the reform, he said, is to give a full play to the market in terms of resources allocation by relieving enterprises of intervention from the government. It is the enterprises that should play the leading role in investment activities. This means they should make investment decisions at their own discretion and shoulder risks of losses while banks should extend loans on their own account.

The government, on the other hand, is expected to perform its well-defined duties which involve formulating development plans and industrial policies and guiding the social investment with legal and economic levers. The government should make more scientific investment decisions in a more democratic way through an optimized decision making process for government investment projects. A strict system will hold decision makers responsible for their loss-making investments. Premier Wen firmly believes that this reform will play a positive role in adjusting the structure, deepening the whole reform and switching the model of economic growth.

The State Council held a video conference on July 22 to deliver Wen's message and make specific arrangements to carry out the reform. Vice Premier Zeng Peiyan urged local governments and departments concerned at the meeting to push the reform forward actively and steadily and focus on the following points.

The first is the investment management system. Decisions of investment should be made by investors, that is, businesses, and the parties benefiting from the investment should take risks. Businesses will never have to go through any approving process for non-government sponsored projects. In stead, they will be subject to a confirmation system or a registration system. Large enterprises will be freer to make investment decisions and companies will have more channels to fund their projects. The government encourages the social capital to step into industries and fields as long as laws and regulations do not deny them to enter into these areas. Financial institutions should improve their fixed assets loans system and sharpen their ability of loans check-up to ward off financial risks.

The second point targets at the government investment mechanism. The purpose is to make government funded projects more productive. The government investments are mainly channeled to social and economic fields which concern the national security and the market doest work well for. Decisions should be made scientifically and democratically. Responsibilities for a project should be defined well and the process of approving should be streamlined. The capital should be put under proper control and the way of construction should be optimized. The operation system for non-profit government investment projects should be in place as early as possible. Local governments should attract social capital into utilities and infrastructure projects.

The third task is to strengthen and improve the macro-control on investment to achieve a balanced aggregate and better structure. Legal, economic and administrative measures should be combined with economic tools including market access, prices, interest rates and taxation to leverage the investment of the whole society. The government should navigate the social investment through planning, policies, information disclosure and market access control.

The fourth priority is given to the supervision of investment to secure the market order of investment and construction. Corporate investment, government investment and investment intermediaries will be put under the watch of a comprehensive supervision system. Various investors should act within the legal framework which is expected to be in place as early as possible and carried out carefully.

Zeng pointed out the deepening the reform on investment system serves the same aim of strengthening and improving macro-control, that is, promoting the stable and fast development of the national economy. He concluded his speech by requiring local governments and various departments concerned to take on their own responsibilities to carry out the State Council's Decision.

China Economic Net　2004-07-26

China deepens reform of its investment system
http://en.ce.cn/Business/Macro-economic/200407/26/t20040726_1334606.shtml

The State Council, China's cabinet, has just publicized a major decision on deepening the reform of its investment system, enabling businesses to make final decisions on investment and the market to allocate resources.

The decision was made in the course of the government's macro-control over the overheating sectors of the economy, which the government has attributed to "blind investment" and "wasteful duplication" in some industries.

According to the new rules, the government's sanctioning of investment projects will be strictly limited, and all businesses not using state funds will merely need to report the projects for the record, provided they conform to the state's macro-economic policies.

Investment of government funds will be limited to certain sectors pertaining to national security or public welfare, including support for underdeveloped areas, environmental protection, advancement of science and technology, and industrialization of high technology.

Currently all large investment projects in China, whether sponsored by state-owned or private organizations and enterprises,must pass an examination and approval process by governments at different levels or relevant departments.

"The reform will reduce the government's direct intervention in enterprises' activities, enable the market to better distribute resources, optimize investment structure, raise investment efficiency and promote the sustained, fast, coordinated and healthy development of the national economy and all-round social progress," an official with the State Development and Reform Commission told Xinhua in an interview.

Businesses not using state funds will only need governmental authorization for important and restricted investment projects relating to public social interests, the decision says.

A catalogue released by the State Councl lists those "important and restricted fixed asset investment projects" requiring governmental sanctions, in the fields of agriculture, energy and power, transportation, information industry, raw materials, machinery manufacture, light industry and cigarette, high and new technology, urban construction, social causes, finance and investment abroad.

"Other projects, no matter how large the scale, only need to be put on record, and enterprises will make decisions and take risks by themselves," the decision says.

The decision encourages non-governmental capital to enter unrestricted infrastructure, public welfare and other fields.

It also makes clear that Chinese methods of investment macro-control will be improved. "Through comprehensive use of economic, legal and necessary administrative measures, all investment activities will be effectively managed mainly through indirect regulation and control," the decision says.

The Chinese government has tightened money supply and land use to such overheating sectors as steel, cement and electrolytic aluminum since late last year, after rapid investment triggered concerns of inflation and pressure on commodity and energy supplies.

The decision calls for enhancement and improvement of supervision and management over investment. "Auditing departments should strengthen audit and supervision over projects invested by the government," it says, encouraging the public and news media to keep an eye on projects invested in by the government.

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「人民網日本語版」2004年7月26日

中国の投資体制改革、外資導入をさらに促進
http://j.peopledaily.com.cn/2004/07/26/jp20040726_41655.html

　国家発展改革委員会の責任者は25日北京で、「国務院がこのほど公布した『投資体制改革に関する決定』は対外開放という基本的な国策を維持したものであり、外資系企業の対中投資に対する奨励策を変更せず、海外企業の対中投資にさらに有利な体制的環境を整備するものである」と指摘した。

　同責任者によると、今回の改革では、投資プロジェクトの承認手順をさらに簡略化し、海外企業の投資プロジェクトに対しては「プロジェクト申請報告」の承認にとどめる。省クラス政府の権限を一層拡大し、海外企業の投資を奨励・認可の対象とする分野では、承認権を省クラス政府へ委託するプロジェクトの規模を、従来の3千万ドル以下から1億ドル以下に引き上げるとともに、規制対象となる分野でも、省クラス政府へ承認権を委託するプロジェクトの規模を、従来の3千万ドルから5千万ドルに引き上げる。

　同決定の付属文書「政府承認の投資プロジェクト目録（2004年版）」では、海外企業の投資に対する要点説明として、奨励・認可の対象とする分野のうち、「外資系企業投資産業指導目録」のリストに含まれる、投資総額（増資分も含む）1億ドル以上のプロジェクトについては、発展改革委が承認を与えるとしている。

　国が規定した限度額を超過するプロジェクト、投資に規制を設けている分野のプロジェクト、割当や許可証の管理対象となる分野の場合、プロジェクトによる外資系企業の設立・変更事項――大規模な外資導入プロジェクトの契約、規約の変更、法律が特別に規定する重大な変更（投資額の増減、株式の転換、合併など）については、商務部が承認権を持つ。これ以外の外資導入プロジェクトについては、地方政府が関連の法制度に基づいて処理し、承認を担当する。

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「ＣＲＩ」　2004年7月27日

中国の投資体制の改革、海外企業家の投資にプラス
http://jp.chinabroadcast.cn/2/2004/07/26/1@22383.htm

　中国国家発展改革委員会の責任者は、25日北京で、「中国が現在、実施している投資体制の改革は、海外企業家の対中投資を奨励する政策を変えないだけでなく、中国で投資することに役立つ環境を更に整備するものだ」と述べた。

　この責任者は、「今回の改革は、投資プロジェクトへの審査プロセスを更に簡素化し、省レベルの政府の審査権限を拡大した」と語った。

　この新しい規定によると、投資額が1億ドル及びそれ以上の場合は「外商投資産業指導目録」の中の奨励類、許可類であれば、国家発展改革委員会が審査し、国家規定により、投資額が制限以上で、投資が制限されているもの及び割当額と許可証管理とにかかわる外商投資企業の設立と変更事項は商務省が審査し、以上のほかの外商投資プロジェクトは、地方政府が関連法律と法規に基づき、審査を行うということになっている。

China Economic Net 2004-07-28

Ongoing reform in investment system to benefit foreign investors　
http://en.ce.cn/Business/Macro-economic/200407/28/t20040728_1353322.shtml

China's ongoing reform in its investment system will create a more favorable system environment for foreign investors by simplifying relevant procedures, a senior offici al with the State Development and Reform Commission said here Wednesday.
Jiang Weixin, vice minister of the State Development and Reform Commission, told a press conference on China's new reform in investment system here Wednesday that the State Council, China's cabinet, has just publicized a major decision on deepening the reform of its investment system on July 19, enabling businesses to make final decisions on investment and the market to allocate resources.

Jiang said the investment system reform still sticks to China's opening up policy, with current policies and measures encouraging more foreign investment unchanged. What's more, the reform will create a more favorable system environment for the foreign investors.

Jiang said one improvement is that the reform will further simplify the approval procedures for foreign investment projects.

Another improvement is that the reform will empower China's provincial governments more rights in approving foreign investment projects, said Jiang.

He added, for the foreign investment projects encouraged or permitted by the Chinese governments, the provincial governments will have the right to authenticate projects worthy of less than 100 million US dollars according to the reform, while the highest benchmark in the past was 30 million dollars.

In addition, for the group of foreign investment projects still under limitation, the benchmark of the provincial governments will also be raised from 30 million dollars to 50 million dollars, said Jiang.

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July 28, 2004 peopledaily

China's ongoing reform in investment system to benefit foreign investors
http://english.peopledaily.com.cn/200407/28/eng20040728_151107.html

China's ongoing reform in its investment system will create a more favorable system environment for foreign investors by simplifying relevant procedures, a senior official with the State Development and Reform Commission said Wednesday.

Jiang Weixin, vice minister of the State Development and Reform Commission, told a press conference on China's new reform in investment system here Wednesday that the State Council, China's cabinet, has just publicized a major decision on deepening the reform of its investment system on July 19, enabling businesses to make final decisions on investment and the market to allocate resources.

Jiang said the investment system reform still sticks to China's opening up policy, with current policies and measures encouraging more foreign investment unchanged. What's more, the reform will create a more favorable system environment for the foreign investors.

Jiang said one improvement is that the reform will further simplify the approval procedures for foreign investment projects.

Another improvement is that the reform will empower China's provincial governments more rights in approving foreign investment projects, said Jiang.

He added, for the foreign investment projects encouraged or permitted by the Chinese governments, the provincial governments will have the right to authenticate projects worthy of less than 100 million US dollars according to the reform, while the highest benchmark in the past was 30 million dollars.

In addition, for the group of foreign investment projects still under limitation, the benchmark of the provincial governments will also be raised from 30 million dollars to 50 million dollars, said Jiang.

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「人民網日本語版」2004年7月29日
投資体制改革、海外企業による手続きをさらに簡素化
http://j.peopledaily.com.cn/2004/07/29/jp20040729_41764.html

　国家発展改革委員会の姜偉新・副主任は28日、国務院新聞弁公室で記者会見し、「国務院がこのほど公布した『投資体制改革に関する決定』の施行後、中国の投資環境は大きく改善される」と述べた。

　姜副主任によると、投資環境の改善は次の4つの面に示される。

（１）投資の観点から見て、市場化の程度が大きく進み、リソース配分という市場の基礎的な役割を十分に発揮させる上で、以前よりも大きな進歩と改善が得られる。

（２）各クラスの政府が投資管理の面で調整機能を果たしつつ、さらにサービス機能を強調する。

（３）国内企業による投資や外資導入プロジェクトに対する承認、および中央政府の投資するプロジェクトの審査・認可などの手順が大幅に簡素化され、あらゆる形の企業に便宜をもたらす。

（４）「決定」は各レベル政府の投資管理に対する規範となる。今回の投資体制改革では、計画がプロジェクトの決定、承認、審査許可の過程で果たす重要な役割が、さらに重視されている。

投資体制改革に関する決定が海外企業の投資活動に与える影響について、姜副主任は「一層便利になる」との考えを示し、次の2点を挙げた。

（１）今後、海外企業の投資プロジェクトや中外合弁プロジェクトは、審査許可制から承認制へ改められる。審査許可制では手続きが2段階に及んだが、承認制の手続きは1段階で済む。また審査許可制では必要条件が多かったが、承認制では大いに簡素化される。

（２）「決定」により、省クラスの政府が承認を担当する外資導入プロジェクトの規模の上限が引き上げられたため、承認手続きのために北京（中央政府）を訪れなければならないプロジェクトが減少し、投資者の便宜につながる。

Asia Chemical Weekly 2004/7/29

China government further reforms Investment System, more convenience for private and foreign investors

Chinese State Council, has publicized a major decision--<The dicision about the reform of Investment System>-- in Jul 19, 2004, to deepen the reform of investment system, and to reduce the procedures of the project examination and approval by government. The private and foreign investors will benefit from it.

According to the new rules, the government will play a less important role in the investment system, the businesses not using state funds will merely need to report the projects for the record, rather than must pass an examination and approval by the governments.

Businesses not using state funds will only need governmental authorization for important and restricted investment projects relating to public social interests.

Currently, all large investment projects in China, whether sponsored by state-owned or private organizations and enterprises,must pass an examination and approval process by governments at different levels or relevant departments.

A catalogue --<The catalogue of government's authorized investment projects>-- also released by the State Council, which lists the "important and restricted fixed asset investment projects" requiring governmental sanctions, in the fields of agriculture, energy and power, transportation, information industry, raw materials, machinery manufacture, light industry and cigarette, high and new technology, urban construction, social causes, finance and investment abroad.

In the catalogue, petrochemical related regulations as follows:

--Oil and gas field: New oil field development project with the annual capacity more than 1 million tonne, and new gas field project with the annual capacity more than 2 billion stere, must be authorized by the State Council; while other projects will be decided by the firms which have the development licenses, and just need report the projects for the record to the State Council's investment authorities.

--LNG reception and transportation facilities, will be authorized by the province's investment authorities.

--Imported LNG reception and transportaion facilities, will be authorized by the State Council's investment authorities.

--The facilities of national crude oil reservation, and the pipelines of oil transportation, will be authorized by the State Council's investment authorities.

--Petchem: New refineries and expansion, new ethylene projects or expantion peojects with the added capacity more than 200 kt/y, will be authorized by the State Council's investment authorities.

--Chemical Raw Materials: New PTA, PX, MDI, TDI projects, and PTA, PX reconstruction projects with the capacities more than100 kt/y,will be authorized by the State Council's investment authorities.

2004/7/30

1) May I understand that foreign investment which is not included in the 'Catalogue' does not need government authorization?

Yes, the projects, which are not included in the 'Catalogue', needn't Central government authorization, but just need report the projects for the record. It is one of the keys of the Investment System Reform.

Before the reform, projects need the government's examination and approval.

2) Peopledaily article

What are 'projects encouraged or permitted ' and 'projects still under limitation' which need authentication by Chinese government or provincial governments?

Is there any other list than new Catalogue ?

China's people daily reported the Decree [2002] No.346 of the State Council in Chinese:
http://www.people.com.cn/GB/shizheng/252/10043/10044/20021226/896435.html

The English information of the catalogue as follows:

Decree [2002] No.346 of the State Council
<The State Council Provisions on Guiding the Orientation of Foreign Investment>

Encouraged projects with foreign investment
A project in any of the following situations shall be listed as the encouraged projects with foreign investment:

1) Being of new agriculture technologies, agriculture comprehensive development, or energy, transportation and important raw material industries;

2) Being of high and new technologies or advanced application technologies that can improve the product performance and increase the technology economic efficiency of the enterprises or those that can produce the new equipments and new materials which the domestic production capacity fails to produce;

3) Meeting the market needs and being able to improve the product level, develop new markets or increase the international competitive capacity of the products;

4) Being of new technologies and new equipments that can save energy and raw material, comprehensively utilize resources and regenerate resources, and prevent environment pollutions;

5) Being capable of bring into the advantages of human power and resources of the mid-west region into full play and being in conformity to the industrial policies of the State;

6) Other situations as provided for by laws and administrative regulations.

Restricted project with foreign investment
A project in any of the following situations shall be a restricted project with foreign investment:

1) Being of technology lagged behind;

2) Being adverse to saving resources and improving environment;

3) Engaged in the prospecting and exploitation of the specific type of mineral resources to which the State applies protective exploitation;

4) Falling into the industries that the State opens step by step;

5) Other situations as provided by laws and administrative regulations.

Prohibited project with foreign investment
A project in any of the following situations shall be a prohibited project with foreign investment:

1) Harming the State safety or impairing the public interests;

2) Polluting the environment, damaging natural resources or harming human health;

3) Occupying too much farmland and being adverse to the protection and development of land resources;

4) Harming the safety and usage of military facilities;

5) Using the particular techniques or technologies of China to produce products;

6) Other situations as provided for by laws and administrative regulations.

Permitted projects with foreign investment

Any projects with foreign investment that don't fall into the categories of encouraged, restricted or prohibited projects shall be the permitted projects with foreign investment.

3) NDRC's circular

Are limitations by NDRC's circular (limitation of capacity and prohibition of production of products which have environmental problems) included in the Catalogue?

They are no contradiction between the Circular of NDRC and decision about the reform of Investment System. Decision about the reform of Investment System has not mentioned the Minimized-scale of Specific projects.

Can Tosoh build 110 thousand tpa PVC plant (less than 200 thousand tpa), just reporting the project for the record?

Yes, according the regulations of Reform Investment System, Tosoh just need report the project to State Council's investment authorities for record, at the same time, of course, Tosoh must get the authorization of provincial government.

Why does Tosoh need to get authorization from provincial government ?

Tosoh's PVC plant in Guangdong will cost the company about 37m US Dollars and is scheduled for completion by 2006.

According to the Decree [2002] No.346 of the State Council, Tosoh's project should be classed into the "permitted projects with foreign investment".

And according to the "Decision of reform of Investment System", for the foreign investment projects encouraged or permitted by the Chinese governments, the provincial governments will have the right to authenticate projects worthy of less than 100 million US dollars (Tosoh's project is included) according to the reform, while the highest benchmark in the past was 30 million dollars.

Please see: http://english.peopledaily.com.cn/200407/28/eng20040728_151107.html

So, I think the Tosoh's Guangzhou PVC project must get the authorization of provincial government.

Can Chinese companies build small-sized such plants if they do not use state funds?

Chinese companies must conform the NDRC's rules; even they do not use the state funds.

Why must Chinese companies conform to the NDRC's rules, even they do not use the state funds, while Tosoh need not conform to the rules ?

I don't mean that Tosoh need not conform to the rules; Tosoh's project, of course, must conform to the rules.

Both Chinese domestic and foreign investors must conform to the NDRC's rules.

According with the NDRC's rules is the precondition of Tosoh's project going ahead, if the NDRC's rules are carried out strictly in the future.

Or does this circular by NDRC supercede new decision by State Council?

They are different regulation between the Circular of NDRC and decision about the reform of Investment System; the former emphasize the scale economy of projects, while the latter emphasize the simplification of Investment Procedures.

4) The catalogue

How about other petrochemical products such as polyolefins, PVC, SM, PS, ABS, etc. etc.?
Can these products be manufactured without authorization if no state funds are used?

If no state funds are used in these projects which out of the catalogue, it is no needs to get the authorization of State Council's investment authorities, but just need get the authorization of provincial investment authorities.

In a word, the cores of this reform are that simplify the procedure, and empower more investment rights to provincial government, banks and investors. After the reform, the provincial governments have more rights in approving both private investment projects and foreign investment projects.

　

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To interpret a policy clearly and correctly is not easy, even in Native Language; let me try my best to explain it, and if you have any questions, please don't hesitate to contact me.


1) I think 'The catalogue of government's authorized investment projects' which the State Council issued this time might be a 2004 version of Decree [2002] No.346 of the State Council <The State Council Provisions on Guiding the Orientation of Foreign Investment> or detailed explanation of Decree 346.

Peopledaily http://english.peopledaily.com.cn/200407/28/eng20040728_151107.html
mentions only 'encouraged or permitted' projects and 'foreign investment projects still under limitation' and there is no mention of other classification (projects which are listed in the catalogue).

Is it not correct ?

No, the "catalogue of government's authorized investment projects" is just the attachment of the "Decision about the reform of Investment System", but is not the 2004 version of Decree [2002] No.346 of the State Council <The State Council Provisions on Guiding the Orientation of Foreign Investment> or detailed explanation of Decree 346.

The Decree [2002] No.346 of the State Council is still effective. And the "catalogue of government's authorized investment projects" just explain and emphasize which kinds of projects must be authorized by the central government.

In the "catalogue of government's authorized investment projects" released this time, there are 13 piece of provisions, you can see the Chinese edition.

http://www.cnaec.com.cn/gongzuo/01/20040723.htm

In this catalogue, the twelfth provision concerns the FOREIGN INVESTMENT. It said:

--The projects, which belong to encouraged or permitted in <The State Council Provisions on Guiding the Orientation of Foreign Investment> and total investment (includs addtion investment) more than 100million US dollars, must get the authorization of NDRC.

--The projects, which belong to restricted in <The State Council Provisions on Guiding the Orientation of Foreign Investment> and total investment (includs addtion investment) more than 50 million US dollars, must get the authorization of NDRC.

Other investment projects should be authorized by Local governments.

2) If it is correct, your list of petrochemical related regulations in the catalogue (Oil and gas field, LNG reception and transportation facilities, Imported LNG reception and transportaion facilities, The facilities of national crude oil reservation, Petchem,Chemical Raw Materials) is the list of 'encouraged' investment.
Is it correct ?

Please see my answer in question (1) and the Decree [2002] No.346 of the State Council <The State Council Provisions on Guiding the Orientation of Foreign Investment>.


3) You said: Businesses not using state funds will only need governmental authorization for important and restricted investment projects relating to public social interests.
But according to Peopledaily, 'for the foreign investment projects encouraged or permitted by the Chinese governments, the provincial governments will have the right to authenticate projects worthy of less than 100 million US dollars according to the reform, while the highest benchmark in the past was 30 million dollars. '
'Permitted projects with foreign investment' means 'Any projects with foreign investment that don't fall into the categories of encouraged, restricted or prohibited projects shall be the permitted projects with foreign investment.'
Therefore even investment which is not 'important and restricted investment projects relating to public social interests' must have governmental authorization if it is worthy of more than 100 million US dollars.

Is it correct ?

Yes, You are right!
Once the Foreign Investment project is more than 100 million US dollars, even the project is classed into encouraged or permitted, it must get the authorization of the State Council's investment authorities(here is NDRC).

4) In the same way I think even 'businesses not using state funds for important and restricted investment projects relating to public social interests' does not need governmental authorization if it is worthy of less than 100 million dollars in case of important one and 50 million dollars in case of restricted one.

Is it correct ?

Please see my answer in in question (1)

5) You said : According to the Decree [2002] No.346 of the State Council, Tosoh's project should be classed into the "permitted projects with foreign investment".
Is it because PVC is not included in the catalogue ?

If Decree [2002] No.346 of the State Council is still effective, I think PVC belongs to 'important raw material industries' and 'Encouraged projects.'

Anyway, the results is same: Tosoh's Guangzhou PVC project must get the authorization of provincial government.

Yes, you are right!
Frankly, I cannot affirm that whether the Tosoh's project should be classed into the "Encouraged" or "permitted" projects. But, the results is same.

6) You said: According to the new rules, the government will play a less important role in the investment system, the businesses not using state funds will merely need to report the projects for the record.

The government is this case means the central government and every foreign investment has to get authorization from either Central government or provincial government.

Is it correct ?

Yes, in this case (the government will play a less important role in the investment system), the government means the central government. And even after the reform this time, every foreign investment has to get authorization from either Central government or provincial government.

The difference is, more Foreign Investment need the central government's examination and approval before the reform, while part of these just need to report the projects to central government for the record, and get the provincial authorization.

　

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"Other projects, no matter how large the scale, only need to be put on record, and enterprises will make decisions and take risks by themselves," the decision says.  

According to this information, in the case of Chemical Raw Materials, only new PTA, PX, MDI, TDI projects, and PTA, PX reconstruction projects with the capacities more than100 kt/y, need governmental authorization if it is worthy of more than 100 million dollars.
But any other projects defined as 'encouraged' or 'permitted' (which are any projects with foreign investment that don't fall into the categories of encouraged, restricted or prohibited projects)  in  Decree [2002] No.346 of the State Council,  need not have governmental authorization and only need to be put on record, even if it is worthy of more than 100 million dollars.

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It should be noted that this sentence "Other projects, no matter how large the scale, only need to be put on record, and enterprises will make decisions and take risks by themselves"　is just for China domestic investment, not for foreign investment. Because in the catalogue, there is another provision (12th) concerns the Foreign Investment.

And according to the 12th provision of the catalogue:

--The projects, which belong to encouraged or permitted in <The State Council Provisions on Guiding the Orientation of Foreign Investment> and total investment (includes addition investment) more than 100million US dollars, must get the authorization of NDRC.

--The projects, which belong to restricted in <The State Council Provisions on Guiding the Orientation of Foreign Investment> and total investment (includes addition investment) more than 50 million US dollars, must get the authorization of NDRC.

--Other investment projects should be authorized by Local governments.

I think it's clear.