Reuters | August 18, 2017
BEIJING/SHANGHAI (Reuters) – China will strengthen rules to defuse risks for domestic companies investing abroad and curb “irrational” overseas investment in its Belt and Road initiative, the state planner said on Friday.
The National Development and Reform Commission (NDRC) said in an online statement lauding the Belt and Road initiative that it would provide better guidance on risks to companies investing overseas in order to prevent “vicious” competition and corruption.
The initiative is aimed at building a modern-day “Silk Road”, connecting China by land and sea to Southeast, South and Central Asia, and beyond to the Middle East, Europe and Africa.
The state planner cited unspecified security risks for Chinese companies investing abroad.
The NDRC did not give more details about how it planned to strengthen rules or why it was concerned about corruption and unhealthy competition between companies.
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