China issues code of conduct for firms investing abroad

China has released a code of conduct for private companies investing abroad as it seeks to head off risky acquisitions, with state media reporting on Tuesday that a blacklist of violators was in the works. The guidelines, released on Monday by the National Development and Reform Commission (NDRC), contain few hard and fast rules, but rather a collection of big-picture advice on operating overseas. The state-run China Daily reported Tuesday that a similar code for state-owned entrprises is also in the works, as well as a blacklist of violators.

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