HAPPAY in China visa AP Ventures, page-3

I think they see it as a high risk venture and therefore don't want to be first in that market. They are happy for a company in which they have an indirect stake to go and fail first.

The other markets they are chasing are in order of lowest hanging fruit. China is too hard right now.
When APT go into China they will enter with all the global brands online from day dot. It's the Chinese brands and the government which are the challenge.

Let someone else fight that fight and enter when the market and regulations are favorable. Could be 2021, could be 2031, could be never.