Bahamas tries to win yuan

The Bahamas government in the Caribbean is changing its policy and strategy toward China to make it more appealing to Chinese investors.

"We're going to change the visa process to make it easier, install a fully fledged ambassador in Beijing and set up commercial services in Shanghai and Shenzhen in the near future," Michael Scott, chairman of the Hotel Corporation and a senior Bahamas government official, said recently.

"Before, we were primarily focused on the American and European markets. But now (with a change of government) we welcome Chinese investors to the Bahamas," he said.