Chinese currency’s fall against dollar a sign of policy shift, not a harbinger of currency war
2016-01-12
Conglomerate’s acquisition of a US studio will have long-term benefits
2016-01-12
The large capital inflows to emerging markets since 2008 have only led to a limited build-up in private debt, except in China. Even in the country where debt level has ballooned the most, there will not be a financial meltdown, says a research report by AXA Investment Managers. Emerging market companies had issued an estimated […]
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2016-01-12
Chinese transmission equipment manufacturer Pearl Electric Co., Ltd. has completed RMB200 million (US$30 million) series C round of financing from strategic investors including China General Nuclear Power Group (CGN), according to an announcement (in Chinese). An investment arm of Hongta Tobacco Group Co., Ltd. and other investors also participated. Founded in 1958, Pearl Electric manufactures […]
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2016-01-12
Uber's China division has closed a series B funding round at a valuation of US$7 billion, the ride share giant's chief executive Travis Kalanick said at an event in Beijing. Investors in the round, whose value is undisclosed, include the HNA Group, China Taiping Insurance Holdings, Guangzhou Automobile Group, China Life Insurance, and Citic Securities. […]
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2016-01-12
Adams Street Partners has appointed Ben Hart as partner and head of business development in Asia, effective January 19th, according to a company announcement. In his new role, Hart will lead business development efforts from the Singapore office, working to further develop the firm’s presence in Asia. Adams Street Partners’ investments in Asia are managed […]
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2016-01-12
Suspected PBoC intervention erases record gap between onshore and offshore exchange rates
2016-01-12
Japan's Sumitomo Mitsui Trust Bank has acquired a 4.97% stake in the controlling entity of Spring Real Estate Investment Trust, a Hong Kong-listed real estate investment trust (REIT) that owns and invests in income-producing real estate in Mainland China, according to an announcement. Financial terms of the deal are not disclosed. "We believe the support […]
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2016-01-12
Dalian Wanda Group says it has agreed to acquire U.S. movie studio firm Legendary Entertainment for US$3.5 billion in cash, in the fourth largest acquisition of a U.S. company by a Chinese buyer on record. Last week, media reports emerged about the deal. The reports said that Wanda was to acquire over half of Legendary […]
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2016-01-12
Armaments key to Islamabad’s growing entente with Beijing
2016-01-12
Chinese payment firm Ping++ has raised tens of million U.S. dollars in its series B round of financing led by China Broadband Capital Partners and Shengjing Technology, according to an announcement. Existing investors Sequoia Capital and Linear Ventures also participated. The company says it will use the proceeds on team expansion, product improvement and expansion. […]
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2016-01-12
Chinese P2P (peer-to-peer) lending start-up Duanrong has completed RMB390 million (US$59 million) series B round of financing from pharmaceutical company Furen Group, according to announcements (in Chinese) posted on the company's Weibo account. The found values the 18-month-old start-up at RMB1 billion (US$153 million) post-money. Furen Group will become the largest shareholder of the company, […]
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2016-01-12
Cedrus Investments says its chief emerging technology advisor, a formal scientist at the National Aeronautics and Space Administration (NASA), will focus looking for investment opportunities in China's life sciences, energy, natural resources, tech and clean tech sectors, according to an announcement. Dr. Kenny, who is the Richard Weiland Professor of Mechanical Engineering at Stanford University, […]
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2016-01-12
Schwarzman Scholars, a Master’s degree program founded by Blackstone Group's founder Stephen A. Schwarzman, has enrolled its inaugural class with 111 Schwarzman Scholars, says an announcement. The scholars were selected from more than 3,000 applicants, making the program one of the most selective in the world with an acceptance rate of 3.7%. The first class […]
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2016-01-12
French eye care company Eye Tech Care SA has completed a new funding round from a Chinese cross-border private equity firm Everpine Capital, according to an announcement. Everpine Capital will invest in two rounds for a total of around €25 million (US$27 million), and will support the French company in its international expansion, especially in […]
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2016-01-12
It was a year of explosion for China's New Third Board, officially named the National Equities Exchange and Quotations (NEEQ), in 2015. A total of 5,129 companies with combined market capitalization of RMB2.46 trillion (US$374 billion) were listed on China' New Third Board as of the end of 2015, up 3.26 times and 4.35 times […]
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2016-01-12
Flying on airlines in China can be frustrating, and buying tickets and planning a trip can be a painful process too. Three Chinese airlines say they have heard enough complaints from travelers to make changes to how they sell tickets on the Internet. Hainan Airlines, China Southern Airlines, and Hainan Airlines's Beijing Capital Airlines announced […]
2016-01-12
With stiff competition from Xiaomi and Apple, Chinese smartphone maker Meizu says it will layoff staff. Commenting on the layoff, Meizu's president Bai Yongxiang said that they know that employee layoff plan is not the entire solution, but it can improve the possibility of building an excellent team to build an excellent company and provide […]