Key point
❶ The "Private-owned Enterprises Overseas-funded Investment and Management Code of Conduct" is jointly made by the NDRC, Ministry of Commerce, the People's Bank of China, the Ministry of Foreign Affairs and the All-China Federation of Industry and Commerce, it is formally released on the 18th.
❷ The "Private-owned Enterprises Overseas-funded Investment and Management Code of Conduct" mainly guides and regulates private enterprises overseas investment management activities in five aspects.

The "Private-owned Enterprises Overseas-funded Investment and Management Code of Conduct" is jointly made by the NDRC, Ministry of Commerce, the People's Bank of China, the Ministry of Foreign Affairs and the All-China Federation of Industry and Commerce, it is formally released on the 18th. State Development and Reform Commission spokesman Meng Wei said that private enterprises are important main body of overseas investment, this main body is not only the decision-making body, but also the executive body and the responsibility body. The country supports qualified private-owned enterprises to 'go global'.

When talking about the 'going global' current situation of private-owned enterprises, Meng Wei said that as important participants in China's implementation of the 'going global' strategy, the private-owned enterprises has accelerated the 'going global' pace noticeably in recent years,and has made positive contributions to promoting the export of related products, technologies and services, promoting the transformation and upgrading of domestic industries, pushing forward the 'Belt and Road' Initiative and deepening the mutually beneficial cooperation between China and the host country However, at the same time, some overseas investment enterprises also had situations such as illegal operation, blind decision-making, vicious competition, neglect of quality,safety management and other issues.

The "Private-owned Enterprises Overseas-funded Investment and Management Code of Conduct" mainly guides and standardizes the overseas investment and management activities of private enterprises from five aspects:

First. improve the management system. Private enterprises should establish and improve the overseas investment decision-making, authorization management, financial management and other internal rules and regulations.

Second. improve management according to law and regulations.Private enterprises and their overseas branches should conscientiously perform the relevant procedures at home and abroad, carry out fair competition and operate with integrity.

Third. we must carefully fulfill our social responsibilities.Encourage private-owned enterprises to devote themselves to public welfare undertakings during overseas investment, enhance cultural exchanges and establish a good corporate image to serve the community.

Fourth. pay attention to resource and environmental protection.Advocate private enterprises to improve resource conservation and environmental awareness, comply with environmental laws and regulations of the host country, fulfill environmental responsibility and related legal obligations.

Fifth. strengthen prevention and control of overseas risks.Private-owned enterprises should strengthen overall risk prevention and control, establish and improve emergency response mechanisms, improve overseas safety and security measures and handle safety accidents appropriately.

In order to implement the guiding role of the "Private-owned Enterprises Overseas-funded Investment and Management Code of Conduct', Meng Wei introduced that the NDRC will start from three aspects. First, make good guiding and coordinating arrangement. Enterprises overseas investment activities involve a number of functional departments and units, including the relevant departments under the State Council, local people's governments at all levels, embassies and consulates abroad and industry organizations. Every unit will work in accordance with their respective responsibilities division, strengthen coordination and cooperation so as to make good coordination for enterprises going global. Second, strengthen service guarantee. In accordance with the requirements of 'delegating power, strengthening regulation and optimizing service, we will further intensify our efforts to simplify procedures and optimize handling procedures so as to make it easier and more convenient for eligible enterprises to 'go global'. The third is to speed up the construction of credit system. The NDRC and relevant departments have just established a credit system in the field of foreign economic cooperation. The next step is to make good use of this system to further improve the relevant credit records and blacklist systems and create a sound credit environment for overseas investment and business activities through the improvement of the credit system.

In addition, the NDRC said that in accordance with the principle of classified guidance, at present, the NDRC is also working with the SASAC and other relevant departments to study and draft the "Private-owned Enterprises Overseas-funded Investment and Management Code of Conduct'and strive to release it as soon as possible.