China has revised the 2004 version of the Investment Project Catalogue, delegating more approval rights to local governments, China Business News reported Wednesday. The new catalogue published recently by the State Council shows that 19 items no longer require approvals, while approval powers on 20 items are being delegated to lower-level governments, it said. Overall, there has been a 60 percent cut in the approval-items list on the catalogue, according to the report. Thirteen categories of investment projects are covered in the revised catalogue, including energy, transport and foreign investment, basically unchanged from the 2004 version, it said.
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