Domestic enterprises investing in companies outside the Chinese mainland, including Hong Kong, Macao, Taiwan and other countries and regions, the establishment of new enterprises or the acquisition of corporate equity, are required to comply with the lawRecord of outward investment. An enterprise's overseas investment involving sensitive countries, regions and industries shall be subject to examination and approval. The overseas investment of an enterprise under other circumstances shall be subject to archival management. The filing shall be filed with the provincial Department of Commerce and the Provincial Development and Reform Commission respectively. After the approval, the investment funds can be transferred to the investment subsidiary through foreign exchange purchase. After the profits of the overseas subsidiary are earned, the profits of the Hong Kong subsidiary will be distributed to the parent company in mainland China. Foreign investment by natural persons cannot be put on record at present, because the state does not allow foreign investment in the name of natural persons.

Due to the foreign exchange control in mainland China, Chinese mainland enterprises set up subsidiaries (such as Hong Kong subsidiaries) when investing abroad, only the following industries are relatively sensitive to foreign investment, such as:1Development, production and maintenance of weapons and equipment;2Cross-border water resources development and utilization;3) News media;4) real estate;5) Hotel;6) Cinema;7) entertainment industry;8) Sports clubs;9) Equity investment funds or investment platforms without specific industrial projects established overseas.

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