Money and Banking:
Ministry of Foreign Trade and Economic Cooperation
China Ministry of Foreign Trade and Economic Cooperation(MOFTEC) is the PRC government organization which oversees foreign investment and trade in the PRC. MOFTEC is very powerful, being responsible for the overall administration of China's foreign trade and foreign enterprises. Businesses planning to do business in China need to apply for and obtain approval for their project through this organization. The approval process can be long and frustrating, or relatively quick. The existence of a chinese partner usually paves the way for smooth and quick approval of the project. The local partner can be expected to prepare most of the paper and other groundwork. Wholly owned enterprises, major projects and those seeking significant domestic markets, may experience longer and more frustrating experience and require you to go through layers of bureaucracy before even getting to the right person at the right level.
MOFTEC's main responsibilities include(Source: condensed from MOFTEC Homepage):
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