The Beijing Municipal Commission of Development and Reform on July 27 issued new regulations on outbound investment, aiming to encourage more companies in the Chinese capital to go abroad and explore overseas markets.

In recent years, Beijing-based companies have continuously increased outbound investment, taking advantage of the Belt and Road Initiative and other frameworks of international industrial cooperation, said an official of the commission.

According to preliminary data, Beijing-based companies had made US$2.59 billion worth of nonfinancial outbound direct investment (ODI) in the first five months this year, an increase of nearly 80 percent year-on-year. More companies are willing to invest abroad, with an increase of cross-border mergers and acquisitions at key parts of the industrial chain.

With the new regulations, the city aims to create an easier environment for enterprises to invest abroad, using measures that would streamline procedures and enable the companies to go through the approval and recording of ODI projects online. In addition, the time it takes to review and register these projects has been shortened to three and five working days respectively.

Furthermore, the new policies will expand the scope of regulation by including overseas reinvestment and financial investment. Companies found guilty of making illegal investments will be announced to the public.

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