{"id":57121,"date":"2017-08-21T17:00:22","date_gmt":"2017-08-22T00:00:22","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=57121"},"modified":"2017-08-21T16:09:47","modified_gmt":"2017-08-21T23:09:47","slug":"china-just-saying-no-to-global-investment-in-sex-and-gambling-industries","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/china-just-saying-no-to-global-investment-in-sex-and-gambling-industries\/","title":{"rendered":"China Just Saying No to Investment in Global Sex and Gambling Industries"},"content":{"rendered":"

The Chinese government\u2019s crackdown on \u201cirrational\u201d overseas investment includes telling investors from China that their yuan have no business getting in bed with international sex and gambling businesses. The new restrictions came in a statement from Beijing on Friday, in connection with new regulations for Chinese firms looking to make acquisitions abroad.<\/p>\n

\"Chinese
Chinese President Xi Jinping\u2019s \u201cBelt and Road\u201d foreign policy initiative is designed to stimulate economic investment in infrastructure from Asia to Central Europe, with less of a focus on casinos. (Image: Getty)<\/figcaption><\/figure>\n

Investment in property, hotels, entertainment, sports clubs, film industries, and core military technology are also frowned upon by the new rules, which aim to prevent capital from leaving the country and putting undue pressure on Chinese currency<\/a>.<\/p>\n

Encouraged instead is investment in industries that support President Xi Jinping\u2019s \u201cBelt and Road\u201d foreign policy initiative. These include oil and mining exploration, steel manufacturing, and research and development that promotes Chinese technological advancement.<\/p>\n

The Belt and Road initiative is designed to bridge the infrastructure gap in Asia and Eastern and Central Europe through trade, thus accelerating economic development in those regions.<\/p>\n

From Frivolity to Infrastructure<\/h2>\n

Chinese companies have been on a spending spree in recent years, investing in everything from soccer teams to Hollywood studios, all of which the government has since deemed frivolous.<\/p>\n

\u201cProfound changes are taking place in international and domestic situations, and Chinese enterprises face not just relatively good opportunities but also various risks and challenges in overseas investments,\u201d the State Council said on Friday.<\/p>\n

\u201cSome companies focused on property rather than the real economy, which, instead of boosting the domestic economy, triggered capital outflows and shook financial security,\u201d the statement continued.<\/p><\/blockquote>\n

Concurrently, the Chinese government has tightened screws on foreign companies marketing gambling tourism<\/a> to its citizens in recent years. But this is the first time it has imposed restrictions on domestic companies investing in casinos abroad, which they had been doing enthusiastically.<\/p>\n

New casinos in Laos, the Bahamas, and the US Pacific territory of Saipan have all been built with Chinese money, while several projects backed by China have been breaking ground in Australia.<\/p>\n

Macau Says ‘Meh’<\/span><\/h2>\n

Beijing began tightening controls on overseas investment last year, prior to last week\u2019s restrictions on outside casino investment. According to Thomson Reuters, mergers and acquisitions launched from China dropped 42 percent year-on-year as of August 14.<\/span><\/p>\n

Grant Govertsen, analyst for Union Gaming, told CalvinAyre.com that the new rules were unlikely to have any direct effect on Macau\u2019s gaming sector.<\/p>\n

\u201cNone of the\u00a0Macau\u00a0gaming licenses are owned by mainland companies, so there is no impediment to future development in this regard,\u201d Govertsen said.<\/p>\n

\u201cClearly China remains wary in relation to gambling and it should serve as a reminder that whatever growth Macau\u2019s gaming industry experiences going forward should be focused on mass market and non-gaming.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

The Chinese government\u2019s crackdown on \u201cirrational\u201d overseas investment includes telling investors from China that their yuan have no business getting in bed with international sex and gambling businesses. The new restrictions came in a statement from Beijing on Friday, in connection with new regulations for Chinese firms looking to make acquisitions abroad. Investment in property, […]<\/p>\n","protected":false},"author":42,"featured_media":57130,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,18,61],"tags":[],"acf":[],"yoast_head":"\nChina Just Saying No to Global Investment in Sex and Gambling Industries<\/title>\n<meta name=\"description\" content=\"Beijing is tightening controls on Chinese companies investing abroad, with gambling and sex industries strictly off the menu for what's allowed.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China Just Saying No to Global Investment in Sex and Gambling Industries\" \/>\n<meta property=\"og:description\" content=\"Beijing is tightening controls on Chinese companies investing abroad, with gambling and sex industries strictly off the menu for what's allowed.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/china-just-saying-no-to-global-investment-in-sex-and-gambling-industries\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-22T00:00:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-08-21T23:09:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/XiZinping.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2253\" \/>\n\t<meta property=\"og:image:height\" content=\"1422\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/china-just-saying-no-to-global-investment-in-sex-and-gambling-industries\/\",\"url\":\"https:\/\/www.casino.org\/news\/china-just-saying-no-to-global-investment-in-sex-and-gambling-industries\/\",\"name\":\"China Just Saying No to Global Investment in Sex and Gambling Industries\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/china-just-saying-no-to-global-investment-in-sex-and-gambling-industries\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/china-just-saying-no-to-global-investment-in-sex-and-gambling-industries\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/XiZinping.jpg\",\"datePublished\":\"2017-08-22T00:00:22+00:00\",\"dateModified\":\"2017-08-21T23:09:47+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Beijing is tightening controls on Chinese companies investing abroad, with gambling and sex industries strictly off the menu for what's allowed.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/china-just-saying-no-to-global-investment-in-sex-and-gambling-industries\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/china-just-saying-no-to-global-investment-in-sex-and-gambling-industries\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/china-just-saying-no-to-global-investment-in-sex-and-gambling-industries\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/XiZinping.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/XiZinping.jpg\",\"width\":2253,\"height\":1422,\"caption\":\"Chinese President Xi Jinping\u2019s \u201cBelt and Road\u201d foreign policy initiative is designed to stimulate economic investment in infrastructure from Asia to Central Europe, with less of a focus on casinos. 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