In accordance with the laws, regulations and policies related to outbound investment, NDRC releases the “Catalogue of Sensitive Sectors for Overseas Investment (2018)”, which comes into force as of 1 March, 2018. News media is included on the list of the restricted sectors for overseas investment. Relevant ministries and commissions have repeatedly expressed their position on tightening the overseas investment in culture, entertainment and sports sectors. In compliance with “Notice of the General Office of the State Council on Forwarding the Guiding Opinions of the National Development and Reform Commission, the Ministry of Commerce, the People's Bank of China and the Ministry of Foreign Affairs on Further Directing and Regulating the Direction of Overseas Investments” (No.74 [2017] of the General Office of the State Council), these sectors are regarded as those that are limited in overseas investment from corporations–hotels, cinemas, entertainment and sports clubs.