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China moves to guide development of outbound investment funds

(Xinhua)    09:22, April 12, 2018

BEIJING, April 11 (Xinhua) -- China's state economic planner released a document Wednesday to guide the development of outbound investment and financing funds, eyeing more capital for the Belt and Road Initiative and better cooperation with global lenders.

The funds will be encouraged to direct investment into industrial cooperation, according to the National Development and Reform Commission (NDRC).

The document said the funds should help ensure "stable, sustainable and safe capital sources" for the Belt and Road.

Chinese outbound investment funds will be supported to expand collaboration with global financial institutions, including the World Bank, the Asian Infrastructure Investment Bank, and the New Development Bank.

China will support those funds to expand business, such as overseas equity investment, debt financing, and cross-border guarantee.

Financing channels of those funds will be broadened, the document said, allowing fund-raising from all types of private capital, including sovereign wealth funds.

Regulators including the NDRC and the central bank will step up supervision and channel more energy into risk control to ensure healthy development of the funds.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Hongyu, Bianji)

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