Tag: China

China issues restriction on overseas investments
Global

China issues restriction on overseas investments

Government of China has issued a restriction on overseas investment in sectors such as real estate, hotels, entertainment, sport clubs in a bid to encourage local investment. The State Council released a guideline to promote healthy growth of overseas investment and prevent risks. According to the report, the guideline intends […]

China releases timetable to crackdown on Ponzi schemes
Scams

China releases timetable to crackdown on Ponzi schemes

China might join the league of countries clamping down hard on Ponzi schemes and other dodgy investment companies luring unsuspecting members of the public to losing their funds. China’s regulatory authority said it will further investigate Ponzi scheme activities across the country. The government said in a statement that: “Recently, […]

Naspers’ Tencent, WeChat under investigation in China
Tech

Naspers’ Tencent, WeChat under investigation in China

Naspers, Africa’s largest technology investor is under investigation in China. Naspers’ social media sites as well as WeChat, its mobile chat application are being investigated by the Cyberspace Administration of China. As a result of the announcement, Naspers shares listed on the Johannesburg Stock Exchange, JSE, tanked by 5%, the […]

Alibaba, Marriott partner to boost Chinese tourism
Global

Alibaba, Marriott partner to boost Chinese tourism

Alibaba Group Holding Ltd and Marriott International have announced the establishment of a joint venture to redefine the travel experience for the hundreds of millions of Chinese consumers traveling abroad and domestically every year. The joint venture will leverage Marriott International’s global portfolio of brands and unparalleled hospitality expertise to […]

Starbucks acquires all stake in Chinese unit
Global

Starbucks acquires all stake in Chinese unit

Starbucks, the world’s largest coffee restaurant said it is consolidating its presence in China through its acquisition of the remaining 50% share of its in the local unit. The company is East China business from long-term joint venture partners, Uni-President Enterprises Corporation and President Chain Store Corporation for approximately $1.3 billion in cash consideration […]