Cruises, roller coasters, and casinos
Business & Technology
Top business and technology news for February 23, 2017. Part of the daily The China Project news roundup "Is the U.S. ignoring China’s nuclear threat?"
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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
