The National Development and Reform Commission in China included news media and weapons development in its list of sensitive sectors for offshore investment, meaning any deals in those areas could face greater scrutiny.
Development of cross-border water resources was listed as a sensitive sector, confirming draft changes to the guidelines first issued in November. Those guidelines for the first time treated outbound investment by individuals in the mainland in the same way as such investments by companies.
They also require firms making outbound investments of over US$300 million (HK$2.34 billion) to seek planning approval.
The list maintained restrictions on offshore investments in real estate, hotels, motion picture studios and sports clubs.
Non-financial outbound direct investment in 2017 fell 29.4 percent to US$120.08 billion. The list will come into effect on March 1.