China claims to have handled over 8,800 cross border gambling cases as of Sept. 30 and made over 60,000 arrests, including 590 Chinese nationals in other countries. It has shut down more than 1,700 online gambling platforms.
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While most of the world continues to grapple with the economic fallout from Covid-19, figures released Monday indicate China has left the worst of the pandemic behind, with gross domestic product growth of 4.9 percent in Q3.
China will be one of the best-performing economies this year, though its cautious approach to stimulus measures may disappoint expectations for growth next year, Standard & Poor's said in a report.
As China’s threats against gambling continue to reverberate throughout the industry in Asia, some executives are prepared to make a prediction that Beijing will ultimately give up its efforts to crackdown and instead regulate within its borders.
China’s move to criminalize efforts to lure Chinese nationals overseas to gamble spells more bad news for Macau's junket sector, which was already facing tough trading conditions.
The Chinese Standing Committee of the National People’s Congress will conduct a second review on an amendment to the country’s criminal law, proposing a new crime definition for overseas gambling operations aimed at luring Chinese citizens, state-owned news agency China News Service reported.
It is not, as some Western media have said because the Chinese do not dare to travel. With 637 million domestic trips during Golden Week, it shows that people are not afraid to travel.