Government says China new policy on global investments will not impact the Pointe! We shall see!

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Statement on New Chinese Overseas Investment Policy

The Minnis-led Cabinet!

The Ministry of Foreign Affairs is aware of the recently promulgated Chinese Overseas Investment Policy and the discussion surrounding it in local media.

These new rules laid out by China and revealed in mid-August, are aimed at governing overseas investments; specifically what China has called the “irrational” acquisitions of assets in industries ranging from real estate to hotels and entertainment.

The authorities have set out three categories – banned, restricted and encouraged.

Outlawed are investments in gambling and the sex industry. Property, hotel, film, entertainment and sports investments will now be subject to restrictions.

The elements highlighted this year were already part of the official China policy, but were only brought together in a single space.

With specific reference to investments in The Bahamas, such as the Pointe project, the Government is of the view that the new policy will have no impact as such investments were approved developments.

The Bahamas is confident that its ongoing excellent relations with China will continue and be further strengthened in the years to come, and that any future investments will continue to meet the standards deemed acceptable to all.

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