China Will Continue to Support Legal, Compliant, Company-Led Overseas Direct Investment
Xu Yanyan
DATE:  Jul 20 2017
/ SOURCE:  Yicai
China Will Continue to Support Legal, Compliant, Company-Led Overseas Direct Investment China Will Continue to Support Legal, Compliant, Company-Led Overseas Direct Investment

(Yicai Global) July 20 -- China will continue supporting legal and compliant outbound investment through its foreign currency management policy. China's relevant regulators will provide necessary support for qualified enterprises to make compliant overseas investments.

"The State Administration of Foreign Exchange's (SAFE) foreign currency management policy for outbound investment has been consistent and stable. We will continue to support overseas direct investment that is legal and compliant," said Wang Chunying, SAFE spokeswoman and director of the balance of payments department, at a press conference organized by State Council Information Office today. Wang was responding to a question about whether China is continuing to strengthen foreign investment review.

The National Development and Reform Commission (NDRC),  China's top macro-economic planner, and the ministry of commerce said they continue supporting capable and qualified domestic companies to conduct real and compliant overseas investments and encourage company-led market-oriented outbound investments that are in line with business principles and international norms, particularly international capacity building partnerships and corporate investment under the 'One Belt, One Road' Initiative, Wang said. The relevant departments will monitor irrational overseas investment in real estate, hotels, cinemas, entertainment and sports clubs to guard against foreign investment risks, and advise companies to make decisions prudently.

SAFE will continue to work closely with the relevant departments regarding outbound direct investment. Relevant authorities and departments help encourage the sustained, healthy and stable development of China's outbound investment activities, Wang said.

SAFE will continue to support the implementation of the 'going global' strategy and legal and compliant outbound direct investment, while promoting trade and investment facilitation and guard against overseas investment risks.

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Keywords:   Forex,Data,State Administration of Foreign Exchange,Regulator,Outbound Investment,Compliance,Management,Policy