‘Offenders face blacklist in crackdown’

SHANGHAI: China will blacklist entities which violate tougher new rules about investing overseas, part of a wider crackdown on risky investments outside China’s borders, said the China Daily newspaper yesterday, citing a senior official.

Zhang Huanteng, an official at the National Development and Reform Commission, said details of the blacklisting process and the punishments would be revealed next month, the paper reported.

“Blacklisted enterprises will not be banned from making overseas investments, but will be punished as they become ‘discreditable’ to regulators,” the paper said, citing Zhang.