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
Future of Sport: a resounding success for the Global Sports Week and Viva Technology collaboration
21 Jun 2023 12:27
Related coverage
UK to boost Chinese grassroots soccer with £3 million funding
25 Sep 2015
Desports allies with MBS and Gino Pozzo
08 Mar 2016
Shanghai Shenfan agrees football deal with Albertz
22 Jun 2016
FC Guizhou Renhe’s sponsorship deal to expire
02 Dec 2015
26 Jan 2017
More from Yutang Sports
France’s Golden Decade of Sport
14 Jun 2023
SportAccord scores Summit touchdown with NFL
18 Jan 2024
Registration open - SportAccord World Sport & Business Summit
18 Dec 2023
Reasons why Leading Gold Partner Sport Event Denmark returns to SportAccord every year
08 Feb 2024
Discover why SportAccord plays central role for Silvers in strategic partnerships
22 Feb 2024
Yutang Sports
loading...