[The State Council of China Issues New Regulations on Overseas Investment: Investors Who Fail to Comply with Filing Procedures for Overseas Investment Will Be Ordered to Rectify and Have Illegal Gains Confiscated] BlockBeats News, June 1: The State Council of China has issued the 'Regulations of the State Council on Overseas Investment,' in which Article 27 stipulates that investors who fail to comply with the prescribed filing procedures for overseas investment, or who apply for relevant filings by submitting false materials or concealing true information, shall be ordered by the filing authority to make corrections, have their illegal gains confiscated, and be fined between 0.1% and 0.5% of the investment amount. Those who refuse to make corrections shall be ordered to cease the investment activity, dispose of shares or assets within a specified period, and be fined between 0.5% and 1% of the investment amount. Responsible managers and other directly responsible personnel shall be fined between 20,000 and 50,000 yuan. Investors who obtain overseas investment filings through bribery, deception, or other improper means shall have their filing documents revoked by the filing authority, have their illegal gains confiscated, and be fined between 0.1% and 0.5% of the investment amount. For investments already made, they shall be ordered to cease the investment activity, dispose of shares or assets within a specified period, and be fined between 0.5% and 1% of the investment amount. Responsible managers and other directly responsible personnel shall be fined between 20,000 and 50,000 yuan. [Original Link]