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Draft guidelines

Reuters
Wednesday, November 08, 2017

BEIJING - China's state planner issued draft guidelines on Friday for its companies investing overseas, streamlining approval processes for deals while raising oversight for projects in sensitive sectors and countries, the government said.

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 December 3, aim to improve oversight, safeguard national security and increase support, according to a post on the website of the National Development and Reform Commission (NDRC).

The State Council issued guidelines in mid August to curb domestic companies' investments abroad in those and other areas.








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