China aims to curb irrational investment

Enterprises violating overseas investment rules will be blacklisted and face 39 penalties imposed by the nation's top regulators as China takes further steps to curb irrational and unauthentic offshore investment moves.

China's top economic regulator on Tuesday published detailed rules to punish "discreditable" enterprises, referring to those that are found to be involved in illegal outbound investments or in moves to book profits by short-selling the yuan.

In an exclusive interview with China Daily in September, an official from the National Development and Reform Commission said the central government will issue a slew of measures to refine the current steps to regulate irrational outbound investment.