Still no green light for individual outward investment: resource  

中央近期不会放行个人境外投资：出于反腐等考虑

(ECNS) -- The Chinese government will not give the green light to individual outward investment in the near future, in consideration of an anti-graft campaign, China Economic Weekly reported, citing an anonymous resource.

The National Development and Reform Commission (NDRC) posted on its official website a few days ago that it would enact new regulations for overseas investment and allow individuals to engage in outbound transactions.

However, the country's financial regulator source said the central government would not deregulate individual outbound investment after taking all things, including an anti-graft campaign, into consideration.

In fact, many pilot proposals have been submitted to the State Council, the resource added, with most rather conservative due to concerns that money laundering and shifting capital offshore may experience a surge via investing overseas.

One proposal demands that investors place a reserve fund in the country's central bank, as a way to encourage long-term investment and reduce risks associated with destabilising capital flow.

Zhang Monan, a researcher at the State Information Center's Economic Forecast Department, criticized the proposal, saying it may discourage investors.

A recent survey revealed that individual overseas investment figures currently fall below one million dollars.

China's currency is convertible for trade and other current account transactions, but is tightly controlled in terms of capital account endeavors, especially financial investment.