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According to a report by Reuters in reference to an article by China Daily, China will blacklist entities which violate tougher new rules about investing overseas, part of a wider crackdown on risky investments outside China’s borders.

Zhang Huanteng, an official at state planner the National Development and Reform Commission, said details of the blacklisting process and the punishments blacklisted entities would face would be revealed next month, the paper reported.

China issued rules last month on acquisitions abroad, following a fierce campaign since the end of last year against what Beijing calls “irrational” investments that has targeted sectors including property, entertainment and sport.

The blacklist would be shared across various government departments to help regulate any future overseas investment activities by the entities included, indicating that those on the list could face more hurdles to any planned deals.

“Blacklisted enterprises will not be banned from making overseas investments, but will be punished as they become ‘discreditable’ to regulators,” the paper said, citing Zhang.

The tighter new rules have already stymied a global buying spree by Chinese corporations, which had been snapping up football clubs, movie studios and skyscrapers, but have faced obstacles in recent months due to restrictions on financing.

Many of China’s top firms have seen their dealmaking brought into the spotlight, including property developer Dalian Wanda, retail giant Suning Commerce Group Co Ltd (002024.SZ), HNA Group, Anbang Insurance [ANBANG.UL] and Fosun International (0656.HK).