July 2, 2022

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The Chinese government’s ruling on foreign ownership? Here is Inter’s response to Zhang and Suning

Inter expressed its position on the latest news reported by the Wall Street Journal about what the Chinese government is offering

The rule of the Chinese government is already causing a lot of discussion among the people (Reported by The Wall Street Journal), which hinders the career of senior Communist Party officials with foreign ownership. According to reports from La Stampa newspaper, the management from Inter immediately mitigated the negative impact of this change that Beijing wants. The newspaper portal writes:

It could be a measure that has some consequences for Zhang Jìndong and thus his son Stephen who controls Inter via Suning. However, at Inter, there is a tendency to hold back the extent of the negative effects of this restrictive shift of the CPC, which has been attributed to the tensions between Washington and Beijing. And it was emphasized that the Chinese action dates back to March, so it should have already had consequences if it really affected the Zhang family. It is also unclear whether Zhang Jìndōng has been holding party positions since 2018“.

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