Investments overseas get closer lookScreening to preserve 'going out' policy while halting improper flows of moneyChina will tighten screening of overseas investment projects amid growing concern about capital outflows and acquisition risks, officials said on Monday. They reiterated China will stick to its strategy of "going out", which has been boosted by changing from an approval system to one of collecting records from companies investing overseas. But there are concerns about money outflows as China tries to keep money from illegally leaving the country, given the current global business atmosphere. The administration conducted special checks for illegal capital outflows in the first six months of the year and found 2,335 leads involving a total of $8.4 billion, according to the foreign exchange administration. In the past, the government has more closely watched outbound investments by State-owned companies than those of privately owned companies.

Source: The China Post November 29, 2016 18:06 UTC