Shanghai-headquartered Chinese privately owned conglomerate Fosun International Ltd. has been downgraded by Standard & Poor's Ratings Services because of the company's increasing leverage level as a result of its acquisitions, according to a notice issued by S&P. Fosun's long-term corporate credit rating is downgraded to BB from BB+ with stable outlook. "We downgraded Fosun because […]

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Demand for once coveted civil servant jobs in China is declining as young people opt for more lucrative occupations, such as online gaming

NASDAQ-listed Chindex International, Inc., the operator of high-end United Family hospitals in China, says the company has received a superior take-private proposal from an unspecified financial bidder, according to a company release. The new bidder is willing to pay US$23 per share for all outstanding American Depository Shares (ADS), valuing the company at around US$414 […]

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The author is Nomura economist Zhang Zhiwei China's M2 growth slowed significantly to an unexpected record low of 12.1% year-on-year in March, down from 13.3% in February. This is on back of slower deposit growth and weak liquidity inflows. At the end of the first quarter, China's total social financing stood at RMB5.60 trillion, down […]

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China's credit data came in better than expected, with new loans rebounded to RMB1,050 billion in March from RMB645 billion in February. Market expectations were RMB1,000 billion. Total Social Financing (TSF) jumped to RMB2,070 billion from RMB939 billion in February, against the market's expectation of RMB1,800 billion. China's foreign exchange reserves rose by US$129 billion […]

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The author is Song Yu, China economist at Goldman Sachs Gao Hua China's March M2 supply was substantially below expectations, up 12.1% year-on-year, lower than Bloomberg consensus of 13.0%. While the base was high, which contributed to part of the fall in year-on-year growth, the implied sequential growth also slowed meaningfully. Fiscal deposit change was […]

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A court in southern China convicts 11 workers for ‘disrupting public order’ in a test case of government intolerance towards labour activism

According to Craig Leavitt, chief executive officer of American apparel group Kate Spade & Co., the group plans to open up to 12 Kate Spade New York stores in China in 2014. At present, Kate Spade New York operates six stores in Hong Kong and 20 stores in mainland China, covering Beijing, Chengdu, Shenyang, and […]

Global private aviation firm NetJets Inc. says that it is preparing to begin its China business once government approval is finalized, according to a company announcement. NetJets, a Berkshire Hathaway company, is hiring employees in China, partnering with vendors and positioning aircraft to the Chinese market. It expects government certification to be granted mid-year in […]

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Americans living around the world have their credit rating to worry about, and the federal government and private industries in the USA has made it simpler over the years for Americans to monitor their credit reports. The AnnualCreditReport.com website is…

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Americans living around the world have their credit rating to worry about, and the federal government and private industries in the USA has made it simpler over the years for Americans to monitor their credit reports. The AnnualCreditReport.com website is…

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Chinese banks made RMB1.05 trillion ($168.8 billion) new RMB loans in March, in line with forecast of RMB1 trillion, according to data released by the People's Bank of China. March's new local currency loan number is well above February's RMB644.5 billion yuan. Total social financing aggregate, a wider measure of overall credit growth in the […]

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Hu Xiaoming, Alibaba's vice president for small- and micro-financial group and chief risk officer, announced in Beijing that the company will invest CNY40 million to establish a security fund. The security fund will be used to fight Internet phishing, trojans, money laundering, malicious attacks, and to protect user information. The security fund will cooperate with […]

Beijing-based Chinese catering chain Quanjude Group Co. Ltd. says the company plans to raise a total of RMB350 million ($56 million) by offering 24.95 million ordinary shares through a private placement. The deal has been approved by the company's board, according to a regulatory filing. IDG Capital Partners and China Lodging Group, a domestic hotel […]

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Shunwei Capital Partners has launched two new funds targeting to raise a total of US$525 million, according to media reports. Founded in 2011 by Tuck Lye Koh, Shunwei is a China-focused venture capital firm primarily focused on early to mid-stage start-ups in China’s Internet and technology industry. The firm currently runs one fund with over […]

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Swedish private equity firm EQT Partners is planning to exit its investment in Taiwan cable TV network Gala TV (GTV) for NT$6 billion ($200 million), according to Taiwanese media reports. Potential buyers include Taiwan business conglomerates Formosa Plastics Group and local financial investors. Founded in 1997, Gala currently operates four commercial cable and satellite television […]

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