China moves to close regulatory loopholes in overseas investment by wealthy individuals

As China is set to flesh out rules that would put individual investors on the same regulatory footing as companies when it comes to outbound investment, covering everything from purchases of overseas property to acquisitions of foreign companies, legal experts said the move will close grey areas long used by wealthy individuals to channel assets abroad. The National Development and Reform Commission (NDRC) on Friday released a draft revision of its measures governing outbound investment and...