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Chinese Government taking steps of gambling restriction

Chinese Government taking steps of gambling restriction

22.08.2017 16:10
Gaming is one of the listed industries, among several others, where investments from Chinese corporations and individuals to overseas gambling initiatives are prohibited.
Such new regulations are designed with one thing in mind; keep the Chinese money in the Chinese territories.
Chinese Government taking steps of gambling restriction-1
It’s not just the gaming industry that may feel the pinch of withdrawn Chinese investment, which as you’d expect is plentiful and lucrative, as other industries such as residential, sports, media and varying entertainment avenues are all affected by these imposed regulations.
China will however, support eligible domestic enterprises to make overseas investment and join in the construction of projects in the Belt and Road Initiative. These enterprises should take the lead to export China’s superior technology and equipment, upgrade the nation’s research and manufacturing ability, and make up the shortage of energy and resources through prudent cooperation in oil, gas and other resources.
Overseas investments against the peaceful development, win-win cooperation, and China’s macro control policies will be restricted.
Chinese Government taking steps of gambling restriction-2
The guidelines also prohibit domestic enterprises being involved in 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.
This news and these guidelines won’t be that much of a surprise, China has been a difficult place of operation to allow gambling in from outside countries for years, and the very presence of such companies and their availability has always been something the Chinese government wanted to control, limit and remove.
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