It Looks Like China’s European Soccer Invasion Is Over
China puts sports teams on list of restricted investment areas
Move builds on state campaign to curb capital outflows
China’s invasion of European soccer appears to be over.
The State Council, China’s cabinet, on Friday formally put sport clubs on its list of industries that local companies are restricted from investing in overseas. The move builds on a state campaign that began late last year to curb capital outflows, including scrutiny of what the government called "irrational investments," to protect the yuan from depreciating further.