What is an **investment project?
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Recently, the Ministry of Housing and Urban-Rural Development and the **National Development and Reform Commission jointly issued the \"Administrative Measures for General Contracting of Building and Municipal Infrastructure Projects\" (hereinafter referred to as the \"Administrative Measures for General Contracting\”), which came into effect on March 1, 2020. In the \"Administrative Measures for EPC Projects\", the term \"**investment projects**\" appears repeatedly. So, do the projects invested in by state-owned enterprises such as CNPC, Sinopec, China National Coal Group, and Shenhua qualify as \"**investment projects**\"?
1. First, consider the source of funds for the project: for projects where **more than 50% is invested**, or those where the investment amount is less than 50% but actual operational control is exercised, **investment project management** should be applied as a reference. 2. Whether it constitutes a **medium-to-large project should be determined based on the specific policy documents of each city and province. For example, in the capital city of a certain province, it is stipulated that for non-infrastructure projects worth over 50 million yuan, and infrastructure projects worth over 100 million yuan, a reevaluation meeting must be held at the municipal level before a decision can be made regarding whether to proceed with the project. 3. In principle, investment projects of state-owned enterprises can be approved in accordance with the approval list of a certain province in 2017; for projects invested and constructed by public institutions, social organizations, etc., approval (or registration) for project initiation can be carried out directly based on that approval list. However, at present, the management model for the vast majority of state-owned enterprise investment projects still follows the **investment project management process. That is: project proposal, feasibility study, preliminary design, and budget estimate. All require approval. **It does not invest directly in projects; instead, it entrusts its subordinate State-owned Assets Supervision and Administration Commission investment companies to carry out the actual investments. The only differences lie in **the designated investment targets and the scale of investment!
It’s too complicated. I just want to ask: Are the projects invested in by state-owned enterprises such as CNPC, Sinopec, China National Coal Group, and Shenhua considered \"investment projects\"?