China SOEs Snap Up Overseas Chinese Med…

Chinese state-owned enterprises are extending their tentacles ever deeper into the overseas Chinese media, including in Hong Kong. In a move that should be a worry in Malaysia as well as in Hong Kong, the Malaysian timber barons who control Hong Kong-and-Malaysia listed Media Chinese International have entered into a provisional agreement to sell their 70 percent holding to a mainland company named Qingdao West Coast Holdings. The latter is a subsidiary of a so-far unnamed state-owned enterprise.

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