In a decisive move, the Chinese government has issued a stern caution to its citizens regarding the engagement in gambling activities within casinos located beyond the borders of China, citing such actions as a direct infringement of national legislation.
The Chinese embassy in Singapore, through an official communication released on WeChat, delivered a solemn reminder to Chinese nationals residing or visiting the city-state, emphasizing the imperative to abstain from gambling while abroad. It unequivocally stated that even though overseas casinos might operate within legal parameters of their respective jurisdictions, the participation of Chinese citizens in cross-border gambling activities remains under suspicion of contravening Chinese laws. Furthermore, the embassy underscored the potential inability to extend consular protection to individuals found to be in breach of Chinese gambling statutes.
Amidst these developments, the financial markets exhibited a notable composure, with investors in prominent entities such as Las Vegas Sands (LVS) and Genting Singapore displaying minimal reaction to the embassy’s announcement. This tranquility persisted despite the significance of Chinese visitors to the flourishing casino landscape in Singapore, exemplified by establishments like Genting’s Resorts World Sentosa and LVS’s Marina Bay Sands, the latter acclaimed as one of the world’s foremost profitable casinos, predominantly owing to the patronage of Chinese tourists.
Recent months have witnessed a remarkable resurgence in international visitation to Singapore, with January marking a post-Covid pinnacle of 1.4 million visitors, prominently driven by a substantial influx from China. Notably, this surge transpired prior to the enactment of a mutual 30-day visa exemption anticipated to commence in February.
Behind the regulatory stance lies China’s heightened vigilance against cross-border gambling activities, emblematic of its concerted efforts to mitigate capital flight. The Ministry of Public Security has disclosed alarming figures, suggesting an annual outflow of RMB1 trillion (equivalent to US$145.5 billion) from mainland China into the realm of gambling. Characterizing this phenomenon as a grave threat to the nation’s economic stability and security, the ministry has intensified its regulatory measures.
In 2020, the Ministry of Culture and Tourism outlined the compilation of a blacklist encompassing overseas gambling jurisdictions deemed to target Chinese nationals. However, the specifics of this blacklist remain undisclosed, with no explicit prohibition on travel to these destinations.
Reiterating its stance, the Chinese Embassy in Singapore has highlighted the potential ramifications associated with cross-border gambling, including but not limited to fraud, money laundering, and human trafficking. It has also emphasized its readiness to report instances of legal transgressions through a designated hotline.
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