“There are profound changes taking place in China and abroad that offer good opportunities for Chinese firms to undertake overseas investment but also carry risks and challenges,” the State Council said in a statement on Friday.
The State Council did not specify what was meant by restricting investments in the sex and gambling components of the economy.
According to the 2006 book “Translocal China: Linkages, Identities and the Reimagining of Space,” the sex and gambling industries “have no longer been excluded by many Chinese, including some officials, from their list of means to reach the economic goals of individuals or a local government — though both industries are illegal in accordance with Chinese law.”
While Beijing seeks to reduce outside investment to sports, film, hotel and entertainment industries, many were surprised that the new rules would apply to the sex and gambling sectors.
