China's new outbound investment regulation, officially announced by the State Council and effective July 1, 2026, marks the most comprehensive overhaul of China's overseas direct investment (ODI) governance framework in recent years. The regulation, consisting of 34 articles, introduces a systematic approach to managing, promoting, and protecting Chinese outbound investment.
中国《对外投资规定》由国务院正式公布，自2026年7月1日起施行，这是近年来中国对境外直接投资治理框架最全面的改革，共34条，系统性地规范了对外投资的管理、促进与保护。
The regulation applies to all forms of overseas investment where Chinese domestic investors directly or indirectly acquire equity, assets, or related interests in other countries or regions. Notably, investments in Hong Kong, Macao, and Taiwan are also governed by reference to this regulation, expanding the compliance scope for cross-border capital flows. According to the State Council, the framework aims to "promote high-level opening up, improve the quality and level of outbound investment, and safeguard national sovereignty, security, and development interests."
新规适用于境内投资者直接或间接获取其他国家（地区）企业、资产等相关权益的所有境外投资活动。值得注意的是，对港澳台地区的投资也参照本规定执行，扩大了跨境资本流动的合规范围。国务院指出，该框架旨在"推进高水平对外开放，提升对外投资质量与水平，维护国家主权、安全、发展利益。"
A key pillar of the regulation is the introduction of a whole-process supervision mechanism based on classification and grading. Investors are now required to complete multiple administrative procedures — including verification and filing, information reporting, and cross-border capital registration — before executing overseas transactions. The regulation explicitly strengthens investor accountability, prohibiting conduct that disrupts the order of the outbound investment market.
新规的一个核心支柱是引入分类分级全过程监管机制。投资者在实施境外交易前，须完成多项行政审批程序，包括核准备案、信息报告和跨境资金登记等。新规明确强化投资者主体责任，禁止扰乱对外投资市场秩序的行为。
On the protection side, the regulation mandates the establishment of an investment barrier investigation system and enhanced monitoring, early warning, and risk assessment mechanisms. It encourages resolving investment disputes through multiple channels including negotiation, mediation, arbitration, and litigation. The regulation also calls for actively negotiating and signing international economic and trade agreements to elevate protection standards for Chinese overseas investors.
在保护方面，新规要求建立投资壁垒调查制度，加强监测预警和风险评估机制。鼓励通过协商、调解、仲裁、诉讼等多种方式化解投资纠纷，并积极商签国际经贸协定，提高对中国海外投资者的保护水平。
The regulation aligns with China's broader strategy of promoting high-quality Belt and Road cooperation and facilitating international collaboration on industrial and supply chains. It explicitly supports investors in conducting outbound investment activities in accordance with market principles, while embedding national security considerations into every stage of the ODI lifecycle. For Chinese companies planning cross-border acquisitions, greenfield projects, or joint ventures abroad, the new compliance requirements represent both a challenge and a structured pathway toward more resilient international expansion.
新规与中国推进高质量共建"一带一路"和促进产业链供应链国际合作的战略一致。它明确支持投资者按照市场化原则开展对外投资活动，同时将国家安全考量嵌入ODI全生命周期。对于计划进行跨境并购、绿地投资或海外合资的中国企业，新的合规要求既是挑战，也为更有韧性的国际化扩张提供了制度保障。
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Sources: 新华社 (Xinhua), June 1, 2026; 中国一带一路网 (Belt and Road Portal); 国务院公报 (State Council Gazette)
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