A combination of risk controls and......>

CHINA PRESS: A combination of risk controls and making the process more

convenient is necessary for the healthy development of Chinese companies'

outbound investment, the official People's Daily said Monday. China has been

clamping down on unreasonable outbound investment since earlier this year to

prevent financial risks to the domestic market and the inefficient use of

capital. The major goal is to examine whether outbound investment endangers

national security and interests, said Zhang Huanteng, head of the foreign

capital and overseas investment department at the National Development and

Reform Commission. Investments in foreign property, hotels, cinemas,

entertainment and sports clubs form a "restricted development" category that is

closely examined. Other categories face less regulation to ease outbound

investment. New policies on outbound investment have delayed companies' capital

allocation for overseas projects, the newspaper said, citing unidentified

people. Zhang said a law should be created to both regulate outbound investment

and ensure investors' interests, rather than the current situation, where

regulators issue specific departmental rules. (People's Daily)