(Yicai Global) Dec. 18 -- The National Development and Reform Commission and the State-owned Assets Supervision and Administration Commission are working on the Code of Conduct for State-Owned Enterprises Investing Overseas and will introduce it as soon as possible, NDRC spokesperson Meng Wei said today.
The top priority in the recently released Code of Conduct for Private Enterprises Investing Overseas is ensuring effective guidance and coordination Chinese companies' foreign investment activities, and this involves different departments and organizations, including several State Council units, local governments, Chinese embassies and industry groups, Meng said.
All the parties concerned should coordinate with each other and guide private businesses in their endeavors to expand internationally based on a clear division of responsibilities, Meng said at a press conference on macroeconomic development and central economic issues.
They should enhance relevant services and support, and facilitate the globalization of properly qualified companies by streamlining and optimizing application procedures, she said.
These groups must step up credit record system development and the NDRC has set up a credit information mechanism for international economic cooperation projects in collaboration with several other national ministries and commissions, said Meng.
Relevant efforts will focus on how to put the mechanism into operation and authorities will introduce more credit record systems and blacklists to create a favorable 'credit environment' for overseas investment projects, she said.