Below is the Chinese investment approval system, approval will take between 20 and 30 days.
The process for obtaining such approval may be summarised as follows:
a) submission: the investor will submit a formal application with the prescribed contents on the Online Portal;
b) acceptance of application: If the application is incomplete or does not comply with NDRC's requirements, the NDRC will notify the investor of all materials to be supplemented or corrected within 5 working days. The NDRC will formally accept the application through the Online Portal;
c) processing time: after NDRC has accepted the application, it must decide whether to grant approval within 20 working days after having accepted the application, or in certain circumstances 30 working days; andd) additional review by advisory agency: the processing time may be further extended if the NDRC considers it necessary to appoint a qualified consultant to conduct an additional review for 30-60 working days.
IMO if Shanshan wishes to participate in the Capital raise there is a good chance approval would be granted by the 15th, if not received by then I'm sure any shortfall could easilly be allocated to ShanShan up to $5M if approval is eventually given.
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