The purchase of the Plough at Cadsden in rural Buckinghamshire, the bar where then-prime minister David Cameron and president Xi Jinping toasted on their relationship by the Chinese company SinoFortone shows a change in the typical tourist habits, says Peking university business professor Jeffrey Towson in the China Daily.
The China Daily:
Chinese tourists were shifting away from shopping to experiences. Museums, palaces, and pubs were all becoming major tourist destinations.
The Plough purchase is not SinoFortone’s first investment in the UK. Last October, it announced it would invest 2 billion pounds in two eco-parks, in north and southwest Wales.
“So, this pub purchase is consistent with that focus,” said Jeffrey Towson, a professor who teaches investment at Peking University. He added that this particular investment also has symbolic meaning.
The fact that Xi had visited the Plough was important to Chinese tourists, but it was also important to a prominent Chinese-owned company such as SinoFortone, he said.
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