Source:
https://scmp.com/news/china/economy/article/2107392/overseas-hotels-and-soccer-clubs-crosshairs-china-ramps
China

Overseas real estate and soccer clubs in crosshairs as China ramps up investment clampdown

Hong Kong property could take a hit as State Council slaps restrictions on dealmakers

Under tough new restrictions, Chinese investors will have to get special approval from Beijing to put their money in overseas property and sports clubs. Photo: Bruce Yan/Reuters/EPA

Chinese investors will have to get special approval from Beijing to put their money in overseas property and sports clubs under tough new restrictions released on Friday.

Amid fears of broader financial insecurity, the State Council said companies would also need regulatory approval for outbound investments in hotels, the film industry and other forms of entertainment on its new formal restricted list.