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在线翻译:
szdaily -> Business
Outbound investment curbs ‘basically’ called off: regulator
    2017-December-5  08:53    Shenzhen Daily

THE government has “basically exited” from its curbs on irrational outbound investment deals, Pan Gongsheng, the head of China’s foreign exchange regulator, was quoted by media as saying yesterday.

“At the end of last year, several departments took phased measures to control irrational outbound direct investment, and so far they have basically exited (from such measures),” Chinese financial news outlet Yicai quoted Pan, head of the State Administration of Foreign Exchange, as saying.

China’s non-financial outbound direct investment in the January-October period slumped 40.9 percent year on year to US$86.31 billion as authorities bear down on what they say are speculative foreign ventures.

The decline in outbound investment reflected the government’s restrictive measures and “a gradual maturation and return to the rationality of external investment by market players,” Pan said.

The government said it continues to encourage genuine overseas deals but has vowed to limit overseas investment in property, hotels, entertainment, sports clubs and film industries which were suspected to be more speculative.

China also said it encourages overseas investment by qualified companies as they integrate into the global industrial and value chains and support investment by firms involved in Belt and Road Initiative projects, while taking steps to curb investment risks.

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

The NDRC warned that the government will record and tally instances of laws and regulations being broken in China or abroad, and offenders would be punished.

In addition to illegal activities, the guidelines specifically say actions that “violate international conventions and U.N. resolutions, or that disrupt foreign economic cooperation, adversely impact the Belt and Road initiative, or harm China’s reputation,” will be recorded.

The guidelines also focus on monitoring cross-border capital flows by insisting overseas deals are reasonable and disclosures are accurate.

Companies or individuals that break rules will be penalized in various ways, according to the guidelines.(SD-Agencies)

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