12/18/2017, 8:00 AM (Source: TeleTrader)
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China curbs outbound investment to hold capital

The National Development and Reform Commission, economic planning body of the most populous nation, said its new framework for mergers and acquisitions and capital spending abroad is aimed at restricting "vicious competition and "blind decision making." The institution's spokeswoman Meng Wei said China's government, employers and central bank issued the procedures for private entities to strengthen safety and quality. She added policymakers were given bigger authority over offshore risks.

The official cited cases of breaching regulations and weak contingency strategy, and stated fresh rules will help environmental planning. The state has been tightening its grip and preventing capital flight. It channeled the focus of overseas investments toward strategic sectors and away from the entertainment industry and high-end real estate.

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