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Investment process to be simplified further

Offshore investment and fundraising procedures for Chinese State-owned enterprises will soon be simplified, media reported on Tuesday. The People's Bank of China and related government bodies have already submitted a proposal to streamline "going out" procedures for Chinese firms to the State Council, a central bank official told Shenzhen-based Securities News. "In the future, restrictions on overseas investment and financing by Chinese SOEs will be eased, and firms won't have to apply for permission to raise funds in foreign markets on a case by case basis," said Guo Jianwei, a deputy director of the central bank's renminbi policy department.