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在线翻译:
szdaily -> Business
Draft rules for investing overseas issued
    2017-November-6  08:53    Shenzhen Daily

THE National Development and Reform Commission (NDRC) issued draft guidelines Friday for companies investing overseas, streamlining approval processes for deals while raising oversight for projects in sensitive sectors and countries.

After years of rapid growth, China’s outbound investment has slumped so far in 2017 as authorities crack down on “irrational” overseas deals which are suspected of being used to bypass capital controls and move money offshore, pressuring the yuan currency.

The draft regulations, released to the public to solicit feedback until Dec. 3, aim to improve oversight, safeguard national security and increase support, according to a statement on the website of the NDRC.

Some administrative hurdles, such as a rule requiring that Chinese companies investing over US$300 million overseas seek approval from the country’s top economic planner, would be reduced or removed under the new rules, the statement said.

At the same time, the new rules would also increase oversight on investments by overseas subsidiaries of Chinese companies, as well as for investments in sensitive sectors and countries, the NDRC said.

Sensitive projects listed in the rules include those in countries that are at war, that do not have diplomatic ties with China or where investment is restricted by China’s commitments to international treaties, resolutions or requirements, it said.

Media organizations, weapons manufacturing, companies involved in multi-national water resources exploitation or those that China’s national macro policies restrict investment in were listed as sensitive sectors.

A full list of sensitive areas would be released by the NDRC in the future, it said.

Punishments for companies that use dishonest measures to invest overseas, engage in unfair competition or damage national security will be increased, the rules said.

The statement said that the new draft builds on previous rules released in 2014.(SD-Agencies)

 

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