China Cracks Down on Outbound Gambling Investment

This week the Chinese government announced that citizens are prohibited from investing in overseas businesses that are associated with gambling in an attempt to keep money from flowing out of the country.

The new law will see gambling joining the ownership blacklist including property, hotels, film studios, sports teams, and entertainment investments. The move was officially being made in an effort to prevent "overseas investment that may jeopardize China's national interests and security including output of unauthorized core military technology and products, gambling, pornography and other prohibited technology and products".

Some industry analysts claim that the government is concerned that the investors are taking on debt for risky projects. The country is instead encouraging investment in domestic businesses that allow for infrastucture to be built up.

We'll be posting additional stories about the policy as we learn more details about the crackdown.

About the author

2 replies • Last post

Comments

bgsharpe
Forum Angel
sharpe's picture
Location: Sofia, Bulgaria
Joined: 4 Nov 2014
Posts: 6414
Thanks given: 2962
Thanks received: 893
22 August 2017 - 7:17pm
#1
Quote:

...in an attempt to keep money from flowing out of the country.

That's the communism in his most hypocritical form I guess, the Chinese own the world these days, they want all the goods from the capitalist world but without giving away anything...

Quote:

...gambling, pornography and other prohibited technology and products".

Really, these are in one and the same same category....

coolsongss

krcoolsongss
Jackpot ChaserJackpot Chaser
coolsongss's picture
Joined: 2 Dec 2014
Posts: 2336
Thanks given: 1636
Thanks received: 1159
25 August 2017 - 12:38pm
#2
barbadosslim93 wrote:

"overseas investment that may jeopardize China's national interests and security including output of unauthorized core military technology and products, ....".

Some industry analysts claim that the government is concerned that the investors are taking on debt for risky projects.

Very strange... What relations between casino investment and unauthorized core military technology and product ?

Maybe, some generals or military companies are trying to invest in overseas casinos ?