China tightens scrutiny on offshore listings in sectors off

© Reuters. FILE PHOTO: A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration

SHANGHAI (Reuters) - China said on Monday that companies in sectors subject to Beijing's foreign investment restrictions must seek government approval for offshore listings.

The National Development & Reform Commission (NDRC) also said that foreign capital must not participate in operation and management of such companies, and foreign stakes in them must be capped.

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