VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
China is expected to set limits on domestic companies’ overseas investment in areas including hotels, cinemas, entertainment industries, real estate and sports clubs, according to a recent announcement released by the government.
This move follows the listing of e-commerce giant Suning by China’s state television CCTV as a company that is known to have had made risky overseas acquisitions. The Chinese company is seen as a typical “irrational” investor because of its acquisition of a majority stake in the Inter Milan football club for 270 million euros.
Over the past year, China’s football spending splurge has spread around the world, with Chinese companies buying a stake in Manchester City, alongside other football teams. Meanwhile, some issues that have arisen and garnered wide attention include large overseas acquisitions, heavy investment in transfer windows and high salaries for foreign players.
Earlier in January, China’s sports governing body vowed to cap domestic football clubs’ excessive spending on foreign players. The Chinese Football Association (CFA) also launched new rules to double the fees in buying an international player.
Source: ifeng
Proofread by William Logsdon
Related coverage
Chinese sports industry aims to reach 3 trillion yuan by 2020
06 May 2016
Weekly Report: Chinese v Qatar topped the rank with 3.69 viewership rating
24 Nov 2016
Winning League completes takeover of China League One club
01 Dec 2015
Chinese company acquires Lampre-Merida's WorldTour licence
29 Aug 2016
Ten predictions for 2015 Chinese sports industry
04 Jan 2015
More from Yutang Sports
Squash will be significantly boosted by LA28 inclusion
17 Apr 2024
Birmingham is embracing a bright future supported by extraordinary sporting legacy
17 Apr 2024
SportAccord 2024 makes a memorable return to Birmingham
13 Apr 2024
IWGA to confirm the World Games host
11 Apr 2024
SportAccord scores Summit touchdown with NFL
18 Jan 2024
Yutang Sports
loading...