Official: China will ease curbs on outbound investment — especially for Belt and Road projects
Property, entertainment investments will continue to be scrutinized
A Chinese official says the country will relax supervision of outbound investment projects — especially for Belt and Road projects, according to a story in state-owned China Daily.
The expected easing follows tightening measures on outbound investments implemented last year after regulators became concerned about big overseas transactions by players such as Anbang Insurance Group and Dalian Wanda Group.
Official scrutiny will continue to be directed at key industries such as property and entertainment.
“Regulatory authorities will continue to pay close attention to overseas investment in key industries such as property, hotels, entertainment, cinemas and sports clubs,” said Yan Pengcheng, spokesman for the National Development and Reform Commission.
But Yan added: “Projects involved in the Belt and Road Initiative will be encouraged, in particular,” he said.
China’s nonfinancial outbound investment plunged by 45.8 percent year-on-year in the first half to $48.19 billion, according to the Ministry of Commerce.
During that period, China’s real estate investment in foreign countries fell by 82.1 percent year-on-year, and the outbound investment in culture, sports and entertainment decreased by 82.5 percent year-on-year, according to the Ministry of Commerce.