New guidelines for outbound investment soon

China will introduce a "code of conduct" for outbound investment to provide better guidance on risks to companies investing overseas, after efforts to curb irrational investment have started to take effect, people familiar with the matter said.

"The code of conduct," which is yet to be released to the public, will guide enterprises' outbound investment and help them better identify risks in foreign countries, a government source said, without elaborating on when the document will be released.

The document is part of China's broader efforts to improve the regulations on outbound investments.