Investment environment

A. The business investment process goes as follows: first, it goes to the project source—the investment promotion bureau, development and reform commission, or industry and information technology commission – then to negotiations between the initiator and the investor, then it needs a feasibility study and letter of investment intent, then an assessment and investor verification – by the development and reform commission, industry and information technology commission, land and resources bureau, environmental protection bureau, housing and urban bureau, or project supervisor, then a site selection and inspection, then a framework agreement and opinion solicitations, than an agreement with the local government, then the project signing, followed by legal procedure, then the start of the project.

B. Hechi’s business investment team will take charge of overall planning and implementation of major investment projects and will focus on project reserves, the signing, and settlement.

C. Administrative offices need a person to handle the business investment application to see that it meets requirements and has all the necessary materials. Any government department involved needs to streamline procedures for the application and either approve it or refer it to another office within a prescribed period of time. Investment bureaus at the municipal and county level need to check the project signing and verification and offer necessary services to the investor. They should also coordinate their work with related departments to accelerate the process. Major project from outside with an investment of more than 1 billion yuan will have government leaders as supervisors.

D. Any inspection, fines, or financial charges that are unnecessary are strictly forbidden and no inspection apart from those required by law is to be conducted. All charges should be within the law and have an invoice from the local finance dept or the company involved has the right to refuse payment.

E. Officials will be held accountable for any administrative slackness or misconduct to keep them aware of their responsibility and ensure the government work. They will be penalized for any failure to perform their job or for incorrect performance, or anything that damages government credibility, delays work, or infringes on legal interests of the personnel involved. Major officials or heads of government offices will be held accountable for any violations.