China’s top planning body reiterated its commitment to curbing “irrational” outbound acquisitions in targeted sectors as the country continues to weed out systemic risks related to overseas deals.

“Regulators will continue to pay close attention to overseas investments in key industries, including real estate, hotels, entertainment, cinemas and sports clubs,” Yan Pengcheng, a spokesman for the National Development and Reform Commission, told reporters Wednesday.

Yan added that companies from those sectors should “strategize cautiously.”

Regulators have repeatedly vowed to curb “irrational” deals, and have followed up by scrutinizing acquisitions outside corporations’ core businesses.

The curbs have started to have an effect. From January through June, China’s nonfinancial outbound investment plunged 46% from a year earlier, to $48.19 billion.

Chinese companies have for years been actively snapping up assets overseas, including soccer teams and Hollywood filmmakers. But continued capital flight has added pressure on the Chinese currency, which is already struggling with a slowing economy while creating new pressure on the nation’s already overleveraged financial system.

In 2016, China terminated more than $70 billion worth of overseas deals, up from $10 billion canceled in 2015. But China’s direct investment in the U.S. and Europe still was a record $94.2 billion last year.

Contact reporter Aries Poon (ariespoon@caixin.com)