- China Business Blog - http://www.chinabusinessservices.com -

Carlyle-Xugong. R.I.P.

A long-running Chinese (business) soap opera [1]has finally come to en end, as AP reports:

China Daily’s take is a bit different, with Xugong as the dumper:

But is is then suddenly quite frank about the reasons for the dumping:

This tells us something about business, government ,and media in China. It may not be a case of FDI R.I.P. But it is a good reminder of where sensitivities lie [2], and that even guanxi of the sort Carlyle can muster will not overcome national interests.

See news sources: