Functions

1. To organize and coordinate the implementation of “going global” strategy, guide and manage the affairs of outward investment and economic cooperation such as outward investment, overseas processing trade and R&D, overseas resources cooperation, foreign engineering contracting and labor service cooperation (including citizens’ overseas employment);

2. To draft laws and regulations on outward investment and economic cooperation, formulate regulations on safeguarding and monitoring for relevant departments, take joint efforts with relevant departments to make policy suggestions conducive to finance, insurances, foreign exchange, entry and exit, formulate and implement the development strategies and programs on outward investment and economic cooperation;

3. To approve, monitor and manage enterprises engaged in outward investment (excluding financial services) in line with laws; formulate and implement the standards on the qualification of domestic enterprises engaged in outward investment and economic cooperation (including employment overseas) and administrative measures, regulate the operation order of outward investment and economic cooperation;

4. To monitor and analyze the operation of outward investment and economic cooperation, establish, perfect and implement the statistical system on foreign direct investment, foreign contracted projects and labor service cooperation;

5. To take charge of studying and formulating key strategic projects’ planning and supportive policies, comprehensively coordinate the implementation of these projects.;

6. To formulate and implement measures on performance evaluation and annual inspection of outward investment and measures on hierarchical classification of enterprises undertaking foreign contracted projects, guide the work of credit rating of enterprises engaged in foreign labor services cooperation;

7. To undertake multilateral and bilateral exchanges and cooperation involving outward investment and economic cooperation, establish relevant mechanisms, negotiate to fulfill inter-government cooperation projects, build up contact system for key industries and enterprises, guide the implementation of key outward investment and economic cooperation projects;

8. To take joint efforts with relevant departments to safeguard outward investment and economic cooperation and tackle emergencies, lead the work related to the protection of the rights and interests of dispatched workers (including overseas employees);

9. To guide, organize and coordinate the work related to the construction of overseas economic cooperation areas;

10. To lead the work related to preferential export buyer's credit according to relevant regulations;

11. To guide and manage the training on outward investment and economic cooperation, guide the promotion work of outward investment and economic cooperation;

12. To undertake other assignments given by the leaders of the Ministry.