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China to strengthen supervision of overseas investment

Updated: Jun 27,2017 9:20 AM

China will strengthen its supervision of overseas investment and establish a system to tame risks overseas, according to a report on June 26 from Xinhua News Agency.

Chinese regulators have been working to control potential systemic financial risks, including those posed by domestic companies acquiring global assets.

There have been concerns about the debt level among some of the most active buyers overseas.

The Industrial and Commercial Bank of China confirmed last week that checking banking exposure to the debts and loans of those companies is standard practice among peers.

Xinhua also reported that the government will address the quality and reliability of statistics, after several provincial authorities were found to have inflated their economic data.