China's investment review process just got a new set of rules

China's National Development and Reform Commission (NDRC) has updated its rules for how it commissions outside advice on investment projects. This aims to make decisions more scientific and democratic by standardizing how consultants are hired and managed.

This is a procedural update, but it signals a move toward more formalized and potentially more transparent project evaluation in China. By standardizing how external advice is sought, the NDRC is trying to reduce arbitrary decision-making and ensure projects are vetted more rigorously. This could mean longer review times for new projects but potentially better-quality investments down the line.