China mulls blacklist system for outbound investments

Photo taken on Dec 1, 2016 shows the Huanghua Port in North China's Hebei Province. China's economy grew 6.7 percent year on year in 2016. [Photo/Xinhua]

The country's top economic planner vows to draw up a blacklist to ensure the authenticity of outbound investment and fend off risks from "its rising excessively fast".

The National Development and Reform Commission (NDRC) will introduce a system of capital contribution requirements for State-owned enterprises' outbound investment and provide guidance to ensure Chinese businesses going global in a well-regulated and orderly manner, according to a document.

The document, named "report on the implementation of the 2016 plan for national economic and social development and on the 2017 draft plan for national economic and social development" was issued by the NDRC on Sunday.

The move comes as China's outbound investment surged to a record high last year. The outbound mergers and acquisitions jumped 2.46 times in value to $221 billion, according to industry reports.