In Overseas Deals, China Goes Easy Only on Tech, Manufacturing
Chinese regulators remain supportive of outbound deals in technology and manufacturing, while keeping a wider curb on investments in most other sectors overseas, multiple industry sources told Caixin.
After a record capital exodus in 2016 as Chinese companies binged on overseas acquisitions, the government clamped down on what it called “irrational” deals via measures such as greater scrutiny and turning off the bank funding tap. On August 18, China’s State Council released rules that severely restricted investment in five sectors: real estate, hotels, cinemas, entertainment and sports. However, the rules have been in place informally since late last year.
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