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Overseas Gambling Popular Amongst Chinese

6 January 2006

HANGZHOU, China – As reported by the China Daily: "Overseas gambling has surged among rich entrepreneurs in East China, it has been claimed.

"A report in Beijing Youth Daily said many businessmen from prosperous provinces such as Zhejiang and Jiangsu provinces have become addicted to high-stakes gambling while on trips from the mainland.

"A businessman surnamed Tong, from Ningbo, Zhejiang, said he frittered away 3 million yuan (US$37,500) in casinos on a recent three-day trip to Macao.

"…Gambling overseas has become increasingly popular among Chinese private businessmen. They often come from Zhejiang and Jiangsu Provinces, where the private economy is booming, while the most extravagant gamblers are coal mine owners from North China's Shanxi Province, said Tong.

"…Li Huafang, an expert from Shanghai Financial and Law Research Institute, was quoted as saying that some middle-aged businessmen treat gambling as a way of investment to earn quick money…"

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