Beijing cracks the whip on outbound investment
Mainland's super rich and insurance giants hunt for real estate targets after Beijing makes it easier to move funds abroad
In this Year of the Horse we have seen a host of state-facilitated measures introduced to help mainland companies find new markets and enhance the nation's economic strength.
In ancient times, people used to call an able person a qianli ma, a horse that runs 1,000 li (500km) a day.
This year, Beijing certainly has been running with its policies to facilitate outbound investments from a wide range of sources: state-owned enterprises, sovereign wealth funds, insurance companies, private firms and wealthy individuals.
SOEs and private companies no longer have to deal with the lengthy and often challenging government approval process.
In April, Beijing increased the threshold for investments dependent on State Council approval to US$2 billion. In October, the central government simplified the outbound investment process allowing companies to transact with much greater certainty, on a level playing field with their international counterparts.
In the real estate sector, certain types of outbound investment are now encouraged, such as the acquisition of mature commercial properties, construction, infrastructure and hospitality projects in particular countries and regions.