China’s official manufacturing purchasing managers index (PMI), the bellwether of large industrial firms, dropped to 50 in July from 50.2 in the prior month. In the meantime, Caixin China flash PMI fell to a 15-months low of 48.2 in July, down from 49.6 in June. "The decline of the official PMI suggests that the manufacturing […]

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China Investment Corporation (CIC) has made an undisclosed investment in Chinese taxi-hailing app maker Didi Kuaidi, according to media reports. Representatives at CIC did not reply to an inquiry to confirm the news. The investment is part of Didi Kuaidi's latest financing round, which the company revealed in early July. Previous investors in the round […]

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CDIB Capital, the private equity arm of Taiwan’s China Development Financial, has reportedly reach a final closing of US$405 million on its Asia-focused U.S. dollar fund, according to media reports. A representative at China Development Financial refused to confirm the news. The vehicle, named CDIB Capital Asia Partners Fund, had an estimated fundraising target of […]

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Southeast Asia-focused investment firm Navis Capital has sold Singaporean waste management company, ECO Industrial Environmental Engineering, to China’s Beijing Capital Group for S$246 million (US$179 million), according to a company announcement. "ECO’s unique capabilities in processing toxic industrial waste are highly complementary to our existing business in China and abroad," says Wu Lishun, deputy general […]

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Shaolin abbot accused of fathering children out of wedlock and embezzling money

Chinese cloud computing service Aliyun is expanding research into the quantum field of computers. Alibaba Group's cloud computing subsidiary and the Chinese Academy of Sciences signed a memorandum of understanding n Shanghai to co-found the Chinese Academy of Sciences – Alibaba Quantum Computing Laboratory. The new research facility aims to take the study and applications […]

IBM announced that its chief executive officer for the Greater China region Qian Daqun will retire on September 30, 2015. At the same time, Wang Tianxi has been appointed general manager of IBM Greater China and will report directly to IBM Greater China chairman Chen Liming. Qian joined IBM Taiwan in 1977. He worked in […]

IBM announced that its chief executive officer for the Greater China region Qian Daqun will retire on September 30, 2015. At the same time, Wang Tianxi has been appointed general manager of IBM Greater China and will report directly to IBM Greater China chairman Chen Liming. Qian joined IBM Taiwan in 1977. He worked in […]