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posted by martyb on Monday August 21 2017, @10:50AM   Printer-friendly
from the taking-a-chance dept.

Chinese overseas acquisitions are slowing down, and regulators have issued rules that would ban investment in the gambling and sex sectors, as well as banning the export of core defense technologies:

A recent crackdown by China on overseas investments has been assumed to be mainly focused on high-profile acquisitions of things like hotels and football teams around the world. However, Chinese regulators also appear to have their eyes on two other lower-profile industries: gambling and sex.

China's cabinet on Friday issued rules on acquisitions abroad for the first time, possibly signaling a further slowing of the flood of money that has flowed overseas in recent years. Investment in property, hotels, entertainment, sports clubs and film industries would be restricted as part of the new guidelines, which the cabinet said were aimed at defusing risks and preventing crime.

But it also said that overseas investments in the gambling and sex sectors, as well as exports of core defense technologies, would be banned as such activities could endanger national interests and security. The statement did not elaborate on what it meant by the sex and gambling industries, but Chinese businesses have been prolific builders of casinos in countries such as Laos and on the Pacific island of Saipan that are popular with Chinese gamblers. Gambling is banned on the mainland.

[...] Thomson Reuters data released this week showed that all outbound mergers and acquisitions from China dropped 42 percent year-on-year as of August 14.

I'm confident that the seedy gambling dens will manage to get the investment they need and deserve.


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  • (Score: 0) by Anonymous Coward on Monday August 21 2017, @10:20PM

    by Anonymous Coward on Monday August 21 2017, @10:20PM (#557253)

    Does this mean an end to (maybe even closure of) all the Chinese "massage" places that have been popping up like chicken shit? Will house prices skyrocket even more as they now "invest" in more real estate outside of China? These people have F-ed over the whole world economy, I hope they reap the whirlwind in the long term (and hopefully that arrives very shortly).