China tightens investment controls for state firms

The latest move is to tighten controls on money moving out of China and stabilise a faltering yuan

China issued regulatory rules on outbound investments by centrally-controlled state firms, the state asset regulator said on Wednesday, the latest move by Beijing to tighten controls on money moving out of the country and stabilise a faltering yuan.

The State-owned Assets Supervision and Administration Commission (SASAC) said it would step up supervision on outbound investments, two documents published on its website showed.

The regulator also said it would establish a negative list of investment projects that centrally-controlled state firms would not be allowed to invest in, according to two statements published on the SASAC website. It was not clear if