(Yicai Global) Aug. 24 -- China's Ministry of Commerce (MOFCOM) and four related agencies recently jointly issued guiding recommendations on domestic firms' overseas investment.
MOFCOM will reinforce its investigations and encourage Chinese companies to make only genuine and legitimate investments to rein in speculation in sham and irrational projects abroad.
MOFCOM will further consummate its system of administration and recording of its encouraged + negative list mode to steer and regulate overseas investment behavior. The ministry will also step up its post-deal regulation and timely institute spot checks to ensure the health of enterprises 'going abroad.' It will also promote relevant legislation, guide foreign investment, realize administration and standardization and ensure these are enshrined in law, as ministry spokesman Gao Feng related at a press briefing today.