Decree of the State Council of the People's Republic of China
No. 837
The "Regulations of the State Council on Outward Investment" were adopted at the 83rd Executive Meeting of the State Council on April 17, 2026, and are hereby promulgated. They shall come into force on July 1, 2026.
Premier Li Qiang
May 5, 2026
Regulations of the State Council on Outward Investment
Article 13 Investors engaging in outward investment activities shall not export or use goods, technologies, services, or related data prohibited from export by the State, or export or use goods, technologies, services, or related data restricted from export by the State without permission; nor shall they transfer goods, technologies, services, or related data prohibited from export by the State to other countries (regions) through cross-border dispatch of technical personnel, organization of personnel to work in other countries (regions), cross-border provision of technical guidance, or cross-border training of personnel, or transfer goods, technologies, services, or related data restricted from export by the State to other countries (regions) without permission.
Article 27 If an investor invests in overseas investments prohibited by the State, the investment and commerce departments under the State Council shall, according to their respective responsibilities, order the investor to cease the investment activity, order the disposal of shares and assets within a specified period, and confiscate any illegal gains. If the investor refuses to comply, a fine of 0.5% to 0.10% of the investment amount shall be imposed; the directly responsible supervisors and other directly responsible personnel shall be fined between RMB50,000 and RMB100,000.
If an investor fails to complete the required procedures for overseas investment approval and registration, or applies for approval and registration by submitting false materials or concealing true information, the approval and registration authority shall order the investor to rectify the situation, confiscate any illegal gains, and impose a fine of 0.1% to 0.5% of the investment amount. If the investor refuses to rectify the situation, the investor shall be ordered to cease the investment activity, order the disposal of shares and assets within a specified period, and be fined between 0.5% and 0.10% of the investment amount; the directly responsible supervisors and other directly responsible personnel shall be fined between RMB20,000 and RMB50,000.
If an investor obtains approval for overseas investment through bribery, deception, or other improper means, the approval authority shall revoke the approval document, confiscate any illegal gains, and impose a fine of 0.1% to 0.5% of the investment amount. If the investment has already been made, the investor shall be ordered to cease the investment activity, dispose of the shares and assets within a specified period, and be fined 0.5% to 0.10% of the investment amount. The directly responsible supervisors and other directly responsible personnel shall be fined between RMB 20,000 and RMB 50,000.
From the effective date of the penalty decisions stipulated in the preceding three paragraphs, the relevant competent authority may refuse to accept approval applications from the violator for three years, or prohibit them from engaging in overseas investment activities for a period of one to three years.
Article 28 Any violation of Article 15 of these Regulations, including refusing to cooperate with overseas investment security reviews, providing false materials or concealing relevant information, or failing to comply with overseas investment security review decisions, shall be ordered to rectify by the relevant departments of the State Council, have its illegal gains confiscated, and be subject to a fine; if the violation endangers national security, the violator shall be ordered to take necessary measures to eliminate the impact on national security, and may be prohibited from engaging in overseas investment activities for a period of not less than one year and not more than three years; if the investment has already been made, the violator may be ordered to cease the investment activity and dispose of the shares and assets within a specified period.
Article 34 These Regulations shall come into effect on July 1, 2026.