BEIJING, May 8 (Xinhua) -- Inner Mongolia, an autonomous region located in North China, published new regulations for local companies investing offshore, in a bid to promote the sustainable and healthy development of outbound investment.
According to the Circular on Further Guiding and Regulating Inner Mongolia’s Outbound Investment, the region spares no efforts in encouraging outbound investment to construction of the Belt and Road, China-Mongolia-Russia Economic Corridor, and cross-border infrastructure.
It encourages outbound investment in industries like iron and steel, non-ferrous metals, building materials, power generation, chemical industry, textile, and traditional Mongolian medicines.
Inner Mongolia also supports local enterprises to participate in the construction of cross-border cooperation zones and industrial parks, establish overseas R&D centers, participate in the offshore energy exploration, and expand international cooperation in agriculture. Financial institutions are also supported to expand presence in the overseas market.
Under the new policies, outbound investment in the real estate, hotels, entertainment, sports clubs, and equity investment funds without specific industrial projects is restricted.
Meanwhile, Inner Mongolia’s companies are forbidden to carry out offshore investment in gambling and pornography or industries that could endanger national interests. (Contributed by Ding Lei, dinglei@xinhua.org, edited by Zhang Aifang, zhangaf@xinhua.org )
A single purchase
