China issues green guidelines for overseas investment

China is drafting environmental guidelines for companies investing abroad or providing overseas economic aid, state media reported.

The work is being carried out by the Chinese Academy for Environmental Planning (CAEP), China Daily said, in cooperation with the Global Environmental Institute (GEI), an NGO, and the University of International Business and Economics.

A report issued by CAEP last week said China lacked comprehensive environmental policies in its overseas projects, the report added.

By the end of 2006, the report said, 5,000 Chinese companies had set up nearly 10,000 "directly invested firms" and invested US$90.6
billion in 172 countries.

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