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China issues guidelines for overseas M&As, pushes Belt and Road deals

BEIJING, Aug 18 (Reuters) - China's cabinet on Friday issued guidelines to regulate overseas investment as Beijing looks to support capable firms investing overseas while limiting deals in property, hotels, entertainment, sports clubs, and the film industry.

The government will push for investments related to its Belt and Road initiative but also plans to maintain a blacklist of domestic firms that violate overseas investment rules, the State Council, or cabinet, said in a notice on its website. (Reporting by Beijing Monitoring Desk; Writing by Elias Glenn; Editing by Clarence Fernandez)