China has outlined sweeping new rules to intensify regulatory scrutiny over outbound investments.
The country's cabinet, the State Council, said Monday that the government will ban any unauthorized export or use of state-restricted goods, technology, services and data, according to an official document approved in April.
Effective July, the new rules also ban transfers of restricted tech and data via cross-border personnel deployment, training or technical guidance. Unauthorized outbound investment moves will be penalized with fines and investment bans, according to the State Council.
Beijing also outlined broad countermeasures against foreign entities it views as disruptive to Chinese investment and harmful to Chinese interests.
China may ban offending foreign entities from China-related trade and investment activities. It may also block visas, cancel residency permits and ban entry for related personnel, according to the rules made public Monday.
