China will relax the approval process for foreign companies planning to invest in the country, while strengthening national security reviews, the National Development and Reform Commission (NDRC) announced. From June 17, China will adopt a system of “limited approval” and “general registration” instead of the existing “all-round approval” mechanism. All planned investment projects by foreign firms, excluding those required by the “Foreign Investment Industrial Guidance Catalogue” to have Chinese stakes, need only registration before proceeding. Projects listed among the first to 11th items in the 2013 catalogue still need to obtain government approval, the NDRC said. Under the new regulation, all investment projects exempt from approval can go through the registration process with local authorities, and some of the projects needing NDRC approval can directly apply for approval from local authorities. While relaxing the approval process generally, the Chinese authorities will incorporate national security reviews into the country’s management system for foreign investment projects, the Shanghai Daily reports.