Home / Special Report/ China to blacklist firms violating overseas investment rules

China to blacklist firms violating overseas investment rules


Comments / {{hitsCtrl.values.hits}} Views / Friday, 15 September 2017 00:00


SHANGHAI (Reuters): China will blacklist entities which violate tougher new rules about investing overseas, part of a wider crackdown on risky investments outside China’s borders, the state-run China Daily newspaper said on Thursday, citing a senior official.

Zhang Huanteng, an official at state planner the National Development and Reform Commission, said details of the blacklisting process and the punishments blacklisted entities would face would be revealed next month, the paper reported.

China issued rules last month on acquisitions abroad, following a fierce campaign since the end of last year against what Beijing calls “irrational” investments that has targeted sectors including property, entertainment and sport.

The blacklist would be shared across various government departments to help regulate any future overseas investment activities by the entities included, indicating that those on the list could face more hurdles to any planned deals.

“Blacklisted enterprises will not be banned from making overseas investments, but will be punished as they become ‘discreditable’ to regulators,” the paper said, citing Zhang.

The tighter new rules have already stymied a global buying spree by Chinese corporations, which had been snapping up football clubs, movie studios and skyscrapers, but have faced obstacles in recent months due to restrictions on financing.

Many of China’s top firms have seen their dealmaking brought into the spotlight, including property developer Dalian Wanda, retail giant Suning Commerce Group Co. Ltd., HNA Group, Anbang Insurance and Fosun International.

 


Share This Article


COMMENTS

Today's Columnists

A SME policy finally in Sri Lanka

Wednesday, 18 October 2017

The other day there was a communiqué that Sri Lanka must have a SME policy as per the direction from the leadership of the Yahapalanaya Government. It sure gave breath to the economy that is currently nose diving with a growth at 4.7% and all banks


How can Sri Lanka gain from Asia’s ‘noodle bowl’ of regional infrastructure?

Wednesday, 18 October 2017

China’s Belt and Road Initiative (BRI) – a web of intercontinental road, rail and port links – is a hot topic in Sri Lanka


What is more important? Fixing the Constitution or fixing the economy?

Tuesday, 17 October 2017

The Steering Committee of the Constitutional Assembly has produced an Interim Report on six key issues after 73 sessions between April 2016 and September 2017, without basic consensus among the key partners of political party representatives in the C


Top 10 tourist source markets and marketing of Sri Lanka tourism niches

Tuesday, 17 October 2017

The tourism sector is a significant that contribute to the economy of the country. Sri Lanka received over two million arrivals in 2016. This was 14% increase compared to last year 2015. In the case of foreign exchange earnings, Sri Lanka’s earning


Columnists More