SHANGHAI: China has released a code of conduct for private companies investing abroad as it seeks to head off risky acquisitions, with state media reporting on Tuesday that a blacklist of violators was in the works. The guidelines, released on Monday by the National Development and Reform Commission (NDRC), contain few hard and fast rules, but rather a collection of big-picture advice on operating overseas. The state-run China Daily reported Tuesday that a similar code for state-owned entrprises is also in the works, as well as a blacklist of violators. It cited an unnamed NDRC official, who said the guidelines and blacklist “will become major policy tools in curbing investment risks“, according to the newspaper. The code will complement guidelines issued in August, which laid out rules restricting investment in industries such as property, sports and entertainment, the official was quoted saying.

Source: New Strait Times December 19, 2017 12:11 UTC