China's National Development and Reform Commission issued a revised draft of the Administrative Measures for Outbound Investment on August 21, seeking public comments through September 20. The proposal would broaden the rules beyond domestic enterprises and non-enterprise organizations to include individual residents, while preserving investment through channels such as Qualified Domestic Institutional Investor (QDII), Stock Connect and Wealth Management Connect. It would refine reporting on major adverse circumstances, including discriminatory measures, demands for technology or data, and forced disposal of equity assets, and add annual outbound investment information reporting. The draft would also introduce preliminary work reporting for certain large projects involving significant amounts or China's diplomatic relations, while retaining and refining existing reporting for overseas reinvestment and project completion. The revision follows the State Council Regulations on Outbound Investment issued in June and is intended to improve institutional safeguards for the development and security of China's expanding and increasingly diverse outbound investment activity.