China's National Development and Reform Commission (NDRC) published a new edition of the Measures for the Administration of Outward Investment on October 22, overhauling a regulatory framework that had been in place for nearly a decade. The 76-article framework covers investment guidance, services, supervision, protection and legal responsibility. It takes effect on December 1, 2026, when the 2017 Measures for the Administration of Overseas Investment by Enterprises will be repealed. The updated framework recognizes domestic enterprises, other organizations and resident individuals as outward-investment participants, reflecting the broader range of investors and investment structures that have emerged in recent years. It reinforces the legal status of these investor categories, expands related services and protections, and supports market-based overseas investment while assigning investors responsibility for associated risks, profits and losses. Investors may continue accessing overseas financial markets through qualified domestic institutional investor programs, Hong Kong Stock Connect and Cross-border Wealth Management Connect.