On April 15, the State Council issued the "Opinions on Deepening the Reform of Investment Examination and Approval System". It is pointed out that temporary regulatory measures such as suspension of approval and filing can be implemented with the consent of the State Council in industries with prominent problems of disorderly competition, and specific requirements, time limits and modes of operation can be specified. Strengthen the coordination of enterprise investment project approval, filing management policy and factor fund management policy, and refuse to provide land use, sea use, energy use, water use, environmental assessment and other guarantees for projects prohibited by the state in accordance with the law and regulations, and shall not arrange government investment or provide financing support.
The original text is as follows:
Opinions
of the General Office of the State Council on Deepening the Reform of the Investment Examination and Approval System Guo Ban Fa [2026] No.13
The people's governments of all provinces, autonomous regions and municipalities directly under the Central Government, All ministries and commissions of the State Council and all institutions directly under the State Council:
In order to further optimize the allocation of investment approval authority, improve the convenience of investment services, strengthen the supervision of the whole process of investment projects, and focus on expanding effective investment, with the approval of the State Council, the following opinions are put forward on deepening the reform of the investment approval system.
1. Optimize the allocation
of the examination and approval authority of government investment projects in accordance with the principles of consistency of powers and responsibilities, effective supervision and matching with the powers, optimize the examination and approval authority of government investment projects, and clarify the boundaries of the examination and approval authority and responsibilities of central government investment projects. Each provincial-level government shall comprehensively consider the authority level, project nature, fund source, government investment capacity and supervision capacity, improve the provisions on the examination and approval authority of local government investment projects, and rationally divide the examination and approval authority of provincial, municipal and county-level projects. We will strengthen the management of upgrading and demonstration of government investment projects in key areas and key areas, and guard against local government debt risks.
2. Strict examination and approval management
of government-invested projects shall strictly implement the procedures for examination and approval of project proposals, feasibility studies, preliminary designs and investment estimates, except for the explicit requirements of the Party Central Committee and the State Council or the explicit provisions of laws and regulations. Standardize the scope of projects subject to examination and approval management, and strictly prohibit the government from evading the examination and approval of government investment projects in the form of approval or filing of enterprise investment projects, such as state-owned enterprises, corresponding to projects invested by the government through direct investment, capital injection and substantive liability for repayment. Insist on seeking truth from facts and acting according to one's ability, and strengthen the examination and control of project demand, construction content, fund raising scheme, operation and management mode, etc. We will improve the standard system for project construction standards and investment budget estimates, strengthen the approval management of investment budget estimates by the examination and approval departments of feasibility study reports, and strictly restrict project budget estimates. Project approval departments should strengthen the integrated management of investment consultation and evaluation institutions and their experts, and avoid simply replacing investment decisions with evaluation opinions. Lifelong responsibility system for decision-making of government investment projects shall be implemented, and leaders and persons directly responsible for illegal decision-making causing heavy losses and adverse effects shall be seriously investigated for responsibility.
3. Standardizing the approval and filing management
of enterprise investment projects According to the needs of investment management and macro-control, the catalogue of investment projects approved by the government shall be revised dynamically, and the approval management shall be carried out for enterprise investment projects related to national security, the distribution of major productive forces, the development of strategic resources and major public interests. In areas where market competition is sufficient and risks are controllable, regulatory requirements and measures such as construction planning, safety management, technical standards and industrial policies should be clarified before project approval authority is cancelled or delegated. Provincial governments should reasonably determine the approval authority of local enterprises'investment projects according to the nature of the projects and the ability of cities and counties to undertake them. The state stipulates that the approval authority of projects approved by provincial governments shall not be delegated. Cultural and tourism projects such as theme parks, large-scale cultural venues and tourism facilities invested by enterprises, as well as public sports venues and exhibition venues, shall be approved by local governments at or above the prefectural and municipal levels, and projects approved by the State Council in accordance with regulations shall be examined and approved by the State Development and Reform Commission and submitted to the State Council for approval. For areas that cannot be taken over and managed well by local governments, the authority for project approval should be raised. We will promote the standardization of project filing information and certification, and strengthen the verification of the integrity of filing information and the conformity of industrial policies. Strictly limit the frequency of changes in project filing information, and improve the revocation mechanism for long-term projects that have not been started.
4. Strengthen the coordination
of enterprise investment management policy, industrial policy and factor fund management policy. According to the stage of industrial development, capacity monitoring and early warning, dynamically adjust the approval or filing authority level of enterprise investment projects according to the authority, or adjust the filing management to approval management after the approval of the State Council. For industries with prominent problems of disorderly competition, temporary regulatory measures such as suspension of approval and filing may be implemented with the consent of the State Council, and specific requirements, time limits and modes of operation shall be specified. Strengthen the coordination of enterprise investment project approval, filing management policy and factor fund management policy, and refuse to provide land use, sea use, energy use, water use, environmental assessment and other guarantees for projects prohibited by the state in accordance with the law and regulations, and shall not arrange government investment or provide financing support. To strengthen the connection between element approval and project approval authority level, in addition to the explicit provisions of laws and regulations, when the project approval authority is collected, the relevant element approval authority is collected simultaneously.
Fifth, further enhance the efficiency
of investment approval, and further promote the "approval of fixed assets investment projects", gradually incorporating land use, sea use, forest use, grass use, cultural relics protection and other matters, so as to achieve unified acceptance, coordination and efficient handling. We will further streamline the examination and approval of investment projects, merge the examination and approval of the same department in parallel, and promote the integration into one examination and approval. Local governments should revise and improve the guidelines for investment approval in a timely manner, clarify the procedures, time limits and requirements in accordance with the law, and effectively solve the problems of mutual pre-positioning and nesting of approval items; strengthen the guarantee of major project elements at the local level, and optimize the approval process of land use and environmental assessment. Optimize the permit management of construction projects and ensure the implementation of construction projects in accordance with the law. To strengthen the intensive construction of the investment approval management information system, the new system construction needs should be realized by optimizing and expanding the functions of the online approval and supervision platform for investment projects, and the existing investment approval management information system should be interconnected with the online approval and supervision platform for investment projects. To formulate data sharing standards for investment management, and to realize the normal sharing of basic project information, approval information, construction implementation information and fund payment information relying on fixed assets investment project codes.
6. Standardize the management
of project tendering and bidding, promote the revision of the law on tendering and bidding, and strengthen the rigid constraints of the system. Strengthen the examination and control of project bidding matters, and urge project units to scientifically and reasonably determine the scope, mode and organizational form of project bidding and strictly implement them. Project units should take into account the whole life cycle cost, operation and maintenance, quality and safety of the project, scientifically determine the evaluation methods and set the evaluation criteria, so as to avoid low-price and disorderly competition among bidding enterprises. We will deepen the application of digital intelligence technology in the field of tendering and bidding, and vigorously promote network remote bid evaluation. Actively carry out project legal person bidding for operational projects in transportation, energy, water conservancy and other fields. The competent departments of the industry should implement the responsibility of the main body of separate supervision of bidding and tendering, and severely crack down on illegal and irregular acts such as evading bidding, colluding bidding and fraud.
7. To strengthen the management
of project construction implementation and improve the information filling system for investment project construction implementation, the project approval (approval, filing) authorities shall urge and guide the project units to fulfill their information filling obligations; Project units shall timely and truthfully submit information on project commencement, construction and completion through the online approval and supervision platform of investment projects in accordance with the law and regulations, as an important basis for strengthening project supervision, investment regulation and industry management by investment authorities and industry authorities at all levels. In accordance with the law and regulations, the failure to timely and truthfully submit project information and other acts will be included in the credit records of enterprises, publicized to the public through the "Credit China" website, and jointly punished. Improve the acceptance system of government investment projects to ensure that the project completes the approved construction content and meets the requirements of project quality management. Carry out the agent construction system of non-operational government investment projects, and select professional institutions to be responsible for the implementation of project construction through competition.
8.
According to the principle of "who examines and approves who supervises, who is in charge of who supervises", the responsibility of project supervision should be clarified. The competent investment authorities shall fulfill their comprehensive supervision responsibilities by conducting spot checks on projects and compiling investment supervision reports, and shall, in conjunction with relevant departments, intensify supervision and inspection on such issues as illegal and irregular examination and approval (approval), inconsistent approval and construction, and illegal and excessive budgetary estimates of government investment projects, so as to strengthen supervision and deterrence and urge rectification of problems. The competent departments of the industry shall fulfill the responsibility of industry supervision and strengthen the supervision and inspection of projects in the field of the industry. The relevant departments of local governments should fulfill the responsibility of territorial supervision and play a good role of nearby supervision. Strengthen the overall planning of project supervision and the sharing of supervision information, avoid repeated inspection, and effectively reduce the burden on grass-roots units.
9. Improve the evaluation system
of investment projects, establish a comprehensive evaluation and performance evaluation system of investment project decision-making that meets the requirements of high-quality development, and effectively support investment decision-making and project management. Based on the whole life cycle management of the project, we should adhere to the combination of qualitative and quantitative analysis, establish and improve the comprehensive evaluation standards and norms for investment project decision-making, which focus on the compliance of planning policies, the feasibility of construction schemes, the economy of resource input and output, and the sustainability of operation, and cover the benefits of economy, society, ecology and safety. We will improve the performance evaluation system and norms for government investment projects, and strengthen the evaluation of project needs and the realization of construction objectives. Strengthen the application of project post-evaluation results as a reference for planning, investment decision-making, project management, etc.
10. Enhance the coordination
of reform, strengthen the coordination between the reform of investment approval system and the reform of project investment and financing mechanism, and the reform of price and fee in key areas, so as to better play the superposition effect. We will promote the fair opening of the competitive field of infrastructure to all kinds of business entities, support private enterprises to participate in the construction of major national projects, and further stimulate the vitality of private investment. Relying on the online approval and supervision platform of investment projects, we will build a comprehensive service platform for national investment and financing, promote the linkage of project investment and financing, and enhance the level of project financing facilitation. We should innovate the investment and financing mode of operational projects, broaden the financing channels of equity and equity, and actively revitalize the stock assets by issuing real estate investment trusts (REITs) in the field of infrastructure. We will further improve the pricing mechanism for infrastructure and public utilities to ensure the sustainable operation of projects.
All regions and relevant departments should implement the opinions in accordance with the division of responsibilities, strengthen coordination and cooperation, form joint efforts, and jointly promote the effectiveness of reform measures. The competent investment department under the State Council shall strengthen overall coordination and guidance, revise and improve the provisions on the examination and approval authority of government investment projects and the catalogue of investment projects approved by the government in accordance with the procedures, and clean up and standardize the additional investment examination and approval links, evaluation and evaluation matters in violation of laws and regulations. Major matters shall be reported in a timely manner according to the procedures.
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