Time out called on banks

Reform of ODI seen as necessary to help ward off potential trouble

Chinese banks will no longer be the financial source for domestic companies to buy sports clubs, hotels, entertainment and real estate businesses abroad - as the country reforms its outbound direct investment policy to ward off risks - according to analysts.

Their comments came after the government reported that Chinese companies invested more than 15 billion yuan ($2.27 billion) in buying foreign sport clubs, mainly in Europe, since 2014. That's even though many football clubs had consecutive annual losses before they acquired them.