Cruises, roller coasters, and casinos
Top business and technology news for February 23, 2017. Part of the daily SupChina news roundup "Is the U.S. ignoring China’s nuclear threat?"
Carnival announces the first Chinese cruise ships built in China / Miami Herald
The growing appetite among Chinese consumers for leisure and travel experiences has prompted a Florida-based ocean cruise company to commission two ships to be built in China for cruises aimed at the Chinese market. Meanwhile, Caixin reports that the Texas-based amusement park operator Six Flags has signed a deal to open a second location in Chongqing, following its previously announced plans for a park near Shanghai in Haiyan, Zhejiang Province. The gambling business, however, is not faring so well: Casino operator Crown is “dialing back efforts to attract Chinese high-rollers” to its Australian locations, according to The Wall Street Journal. Last year, 18 of Crown’s China-based staff were arrested in a clampdown believed to be a part of the anti-corruption campaign.
- $100 billion buying spree by Chinese insurers fizzles in 2017 – Regulatory restrictions and controls on capital outflows slow down “one of China’s most acquisitive industries” / Bloomberg
- PICC’s president Wang Yincheng under investigation by China’s discipline commission – High-ranking official in insurance falls in crackdown on financial malfeasance / SCMP
- China to encourage private investment in social sectors – Regulators to widen market access in medical care, education, senior care, sports, etc. / Xinhua
- China’s go-private push stumbles on 150-foot-tall trash mountain / WSJ (paywall)
- China cotton growers fear cuts in vital subsidies / Nikkei Asian Review
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