The Pointe project has stimulated mixed responses from Bahamians, but the government is of the view that the new policy will have zero impact as such investments were approved developments.

In a statement released by the Ministry of Foreign Affairs yesterday, it was noted that the new rules laid out in the Chinese Overseas Investment Policy and revealed, are aimed at governing overseas investments, specifically what China has called the “irrational” acquisitions of assets in industries ranging from real estate to hotels and entertainment.

“The authorities have set out three categories – banned, restricted and encouraged,” the statement said.

“Outlawed are investments in gambling and the sex industry. Property, hotel, film, entertainment and sports investments will now be subject to restrictions.

“The elements highlighted this year were already part of the official China policy, but were only brought together in a single space.

“With specific reference to investments in The Bahamas, such as the Pointe project, the government is of the view that the new policy will have no impact as such investments were approved developments.

“The Bahamas is confident that its ongoing excellent relations with China will continue and be further strengthened in the years to come, and that any future investments will continue to meet the standards deemed acceptable to all.”