China relaxes investment rules

China's National Development and Reform Commission is revising the regulation on outbound investment, with the aim of relaxing approval procedures for overseas investment, the Economic Information newspaper reported Wednesday.

The amended regulation will be released later this month, in line with a notice released by the State Council in December 2013, which said any outbound investment below $1 billion that does not involve sensitive countries, regions or industries does not need to get approval from central authorities, according to the report.