Chinese companies' outbound.............>

CHINA PRESS: Chinese companies' outbound investment needs to be stabilized to

ensure the development of the Chinese economy, the official People's Daily said

Monday. The government's recent clamp-down on unreasonable outbound investment

is not aimed at curtailing an increase of outbound investment, but rather to

control risks and prevent financial bubbles, the newspaper said.  China's

national strategy to encourage companies to "go out" has not changed. Zhang

Hanya, researcher at the investment research department of the National

Development and Reform Commission, told the newspaper the 44.3% y/y drop in

outbound investment from January to July was partly due to a high base in the

same period last year. Many Chinese companies lack deep knowledge of local

policies and laws overseas, affecting their profits and leading to the loss

Chinese foreign exchange, he said. China encourages Chinese companies to invest

in "One Belt One Road" projects, so the overall outbound investment volume will

stabilize, he said. (People's Daily)