Headline was earlier, here: NDRC: China to ease restrictions on overseas investments, scraps need for approval for deals below $1 bln

More detail now from Xinhua:

  • Chinese companies planning to invest less than 1 billion U.S. dollars overseas will only need to register with authorities rather than approvals from the NDRC
  • rule does not apply to investment projects in “sensitive countries, regions or sectors,”
  • Previously, Chinese companies planning to invest 300 million U.S. dollars or more in natural resources exploitation and 100 million U.S. dollars or more in other sectors would all be subject to approval from the NDRC
  • Takes effect from May 8

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This should help diversify some FX reserves.