The Indian government has drafted new and tougher rules for scrutiny of foreign portfolio investors (FPIs) from China and Hong Kong, according to Reuters. India has already announced screening of all foreign direct investment from countries with which it shares a land border, to deter a rash of foreign takeovers while asset prices are weak due to the coronavirus pandemic. The country's finance ministry is also preparing regulations defining a beneficial ownership threshold, beyond which foreign investors will have to obtain advance clearance.