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
Dwyane Wade launches his own wine label in China
24 Jul 2015
Guangzhou Evergrande makes bold and short-term thinking move in logo switch
27 Nov 2015
Wanda’ Infront acquires majority stakes in Omnigon
28 Jan 2016
Shanghai SIPG suffers RMB573m loss in first half of 2017
05 Sep 2017
Suning to name Inter’s new board
24 Jun 2016
More from Yutang Sports
SportAccord 2024 - combating online abuse ‘chance for sport to show its power’
22 Mar 2024
Discover the SportAccord Summit sessions!
31 Jan 2024
SportAccord Summit 2024 Logo Unveiled
29 Nov 2023
Ingmar De Vos elected as the next ASOIF President
10 Apr 2024
SportAccord announces first speakers - World Sport & Business Summit 2024
06 Dec 2023
Yutang Sports
loading...