Have Chinese tourists & Chinese money stopped coming to your city?

[CaliNative]

In California, it appears that the flow of Chinese tourists and investors loaded with money to spend has fallen somewhat over the last year. Same in your city? Has it impacted the local economy yet? Is this just a temporary lull, or something that could be more long lasting and harmful to the economy? Are Chinese nationals still snapping up houses in Vancouver? Gambling in Las Vegas?

[Kenmore]

was never a thing here, if anything the trickle is just starting

[C.]

Chinese investment is always warmly welcomed in Jersey City.


Cindy Xu of China Overseas America (in blue) and Jersey City Mayor Steven Fulop at the groundbreaking of 99 Hudson, a 900ft condo tower.

We love your money!

[toddguy]

Originally Posted by Kenmore

was never a thing here, if anything the trickle is just starting

Was never a thing here either, and no trickle even starting.

[the urban politician]

I’ve increasingly been seeing more Chinese walking around Chicago, I would assume they are tourists. I see no sign of a slowdown.

As far as Chinese investment, it’s never been a big thing, certainly nothing on the likes of NYC or Vancouver. However, there is a spillover of Chinese population, business, retail, etc into the neighborhoods surrounding the traditional Chinatown. But I doubt that most of that is foreign money.

[sopas ej]

Originally Posted by CaliNative

In California, it appears that the flow of Chinese tourists and investors loaded with money to spend has fallen somewhat over the last year.

That's news to me.

I don't know about Chinese investors, but visitors, and even people moving in, seem to keep coming. I live in the San Gabriel Valley, which is basically Chinese tourist/resident-Central here in the Los Angeles area. There are hotels that have been built specifically for those tourists, with Mandarin-speaking concierges and instant hot water pots in hotel rooms... and regular tour buses that can take them to outlet shopping malls and casinos.

[Pedestrian]

Chinese tech investors flee Silicon Valley as Trump tightens scrutiny
Jan 6, 2019
Heather Somerville

SAN FRANCISCO (Reuters) - New Trump administration policies aimed at curbing China’s access to American innovation have all but halted Chinese investment in U.S. technology startups, as both investors and startup founders abandon deals amid scrutiny from Washington.

Chinese venture funding in U.S. startups crested to a record $3 billion last year, according to New York economic research firm Rhodium Group, spurred by a rush of investors and tech companies scrambling to complete deals before a new regulatory regime was approved in August.

Since then, Chinese venture funding in U.S. startups has slowed to a trickle, Reuters interviews with more than 35 industry players show.

U.S. President Donald Trump signed new legislation expanding the government’s ability to block foreign investment in U.S. companies, regardless of the investor’s country of origin. But Trump has been particularly vocal about stopping China from getting its hands on strategic U.S. technologies.

The new rules are still being finalized, but tech industry veterans said the fallout has been swift . . . .

A Silicon Valley venture capitalist told Reuters he is aware of at least ten deals, some involving companies in his own portfolio, that fell apart because they would need approval from the interagency group known as the Committee on Foreign Investment in the United States (CFIUS). He declined to be named for fear of bringing negative attention to his portfolio companies . . . .

A dearth of Chinese money is unlikely to spell doomsday for Silicon Valley. Investors worldwide poured more than $84 billion into U.S. startups for the first three quarters of last year, exceeding any prior full-year funding, according to data provider PitchBook Inc. . . . . (But) it is a radical shift for Silicon Valley. Money has historically flowed in from every corner of the globe, including from geopolitical rivals such as China and Russia, largely uninhibited by U.S. government scrutiny or regulation.

“It is a generational change in the way we look at foreign investment in the United States,” Whitten said.

“What we are concerned about is a limited number of bad actors who are phenomenally clever about how they can access our intellectual property,” said Bob Ackerman, founder of AllegisCyber, a venture capital firm based in San Francisco and Maryland that backs cyber security startups.

. . . on average, 21 percent of Chinese venture investment in the United States from 2000 through 2017 came from state-owned funds, which are controlled at least in part by the Chinese government. In 2018, that figure surged to 41 percent . . . .

Two industry veterans, a startup adviser and a venture capitalist who declined to be identified because of the sensitivity of the matter, told Reuters they were recently cautioned by the FBI not to pursue deals with Chinese investors. The two people did not name the Chinese entities of interest to the FBI, but said the deals concerned U.S. companies building artificial intelligence and autonomous driving technologies . . . .

https://www.reuters.com/article/us-v...-idUSKCN1P10CB

[Agent Orange]

Originally Posted by Kenmore

was never a thing here, if anything the trickle is just starting

Where do you live? There is an Uptown in nearly every American city. This seems to be common in the City Discussions forum; people answer questions for their city without clarifying where they live.

[SIGSEGV]

Originally Posted by Agent Orange

Where do you live? There is an Uptown in nearly every American city. This seems to be common in the City Discussions forum; people answer questions for their city without clarifying where they live.

Kenmore St is a street in Chicago Uptown

[Pedestrian]

Why China is cracking down on overseas investment
August 22, 2017 2.35am EDT
He Weiping
Lecturer in Law, Monash University

Big Chinese companies have been on an overseas buying spree in recent years, spending more than US$1.6 trillion scooping up businesses, property and “trophy assets” like football clubs. But a directive from the Central Committee of the Chinese Communist Party . . . restricts outbound investments in real estate, hotels, entertainment, and football clubs.

One of the big reasons for the crackdown is how these investments are funded . . . .

In China, according to People’s Bank of China’s data, bank lending constitutes the vast majority of total financing. Therefore, it is more than likely the bulk of these recent overseas purchases by Chinese companies is bankrolled by Chinese banks.

The reliance on bank loans adds risk to the financial system. Should these projects fail, or the Chinese companies be unable to repay their debts, it could destabilise the entire banking system. And as Chinese banks remain state-controlled entities, the state has effective power to direct bank lending.

The Chinese government’s directive doesn’t just restrict investment in real estate, hotels, entertainment and football. It also encourages investment in other areas - new energy, technology, resources and agriculture. The stated purpose is to ensure that investment aligns with China’s national interest and to set up procedures for monitoring and supervision of the investments.

The Chinese banking regulator, the China Banking Regulatory Commission has also started investigating five huge conglomerates - Anbang, Dalian Wanda, HNA, Fosun, and Zhejiang Rossoneri Investment which have been very active overseas. The Chinese banking regulator has asked major banks to provide details of the borrowing position of these companies and the risk associated with their loans.

On paper, all five conglomerates are apparently predominantly privately owned, with the possible exception of Zhejiang Rossoner Investment which was only incorporated in June 2016. Although directly or indirectly, the Chinese government will have some stake and it is hard to trace the ownership structure of large Chinese companies . . . .

Whether through regulatory control or through its direct control of the Chinese banking system, the Chinese government might try to influence or direct the operations of the overseas assets of these conglomerates.

http://theconversation.com/why-china...vestment-82763