Financial difficulties highlight the debt pressures building in world’s second-largest economy, especially in sectors suffering severe overcapacity
2014-08-29
Singapore's sovereign wealth fund GIC has invested US$104 million in Taiwanese music streaming service provider KKBOX, according to the two parties’ joint announcement. The investment proceeds will be used to fund the company’s overseas expansion, as well as refine its technology and services, says Chris Lin, co-founder and CEO of KKBOX. GIC and KKBOX are […]
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2014-08-29
Beijing-based Chinese private equity firm Hony Capital is to sell exit 650 million shares of Hong Kong-listed Chinese generic drugs maker CSPC Pharmaceutical Group Limited. forHK$6.30 apiece, in another exit from the company that will net Hony a total of HK$4.1 billion (US$528 million), according to CSPC’s official statement. The share sell-down equals to about 11% […]
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2014-08-29
Europeans and Americans have slowly but steadily tightened the economic screws on Russia. But, in contrast to the overall cohesion displayed on the sanctions front, the West’s military response to Russia’s new assertiveness in its so-called “near abroad” has been uncoordinated and reluctant.
2014-08-29
The author is ANZ greater China chief economist Liu Li-Gang Taiwan is reportedly to embark local RMB fixings for interest rate and exchange rate in the interbank market, effective from September 1. The interest rate fixing will be called CNT TAIBOR Benchmark. The RMB exchange rate fixing is reportedly to be priced against U.S. dollar, […]
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2014-08-29
Colourful self-made billionaire Jimmy Lai, the subject of an anti-graft raid this week, says the ‘scandal’ reaffirms his moral character
2014-08-29
Palo Alto, California-based U.S. electric car maker Tesla Motors Inc. has signed an agreement with China’s second-largest telecommunications company China United Network Communications Group Co., Ltd. to build 400 charging stations in 120 Chinese cities at China Unicom branch offices, according to media reports. No specific timelines were give about the plans. Tesla China did […]
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2014-08-29
Investigations by China's National Development and Reform Commission (NDRC) into anti-competitive behavior in the autos sector have raised regulatory uncertainty and risk for international car makers, says credit rating agency Fitch Ratings. The potential fines likely to be levied are not expected to have a material impact on corporate stability. However, it is unclear whether […]
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2014-08-29
China's Dalian Wanda Group has teamed up with Baidu, Inc. and Tencent Holdings Limited to establish a joint venture e-commerce company in Hong Kong with an initial investment of RMB5 billion (US$810 million), according to a joint announcement. Wanda Group will hold 70% of the joint venture. Baidu and Tencent will each hold 15%. The […]
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2014-08-29
CITIC Private Equity is to exit from Beijing Jialin Pharmaceutical Co., Ltd. through a trade sale. It will sell its 10.26% stake to Yantai, Shandong province-based Chinese drug-maker Luye Pharma Group for RMB589 million (US$95.88 million), according to an announcement made by Luye. Luye will invest a total of RMB3.68 billion (US$600 million) to take […]
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2014-08-29
Contrary to popular beliefs, existing distortions may be giving a more negative impression than the reality
2014-08-29
Chinese media platform BesTV published its semi-annual performance report for 2014 and said the company's operating revenue increased by 26.91% year-on-year to CNY1.429 billion; and its net profit attributable to shareholders increased by 20.75% year-on-year to CNY388 million. At the same time, BesTV announced that the company will invest nearly USD100 million in the mobile […]