Beijing denies it is trying to buy better relations with neighbours

Tackling corporate indebtedness moves on from bailing out zombie companies

Development of advanced aircraft will significantly boost Beijing’s deterrent power

Baroque Japan, an apparel business majority-owned by CDH Investments and Chinese women’s shoe retailer Belle International, has completed an initial public offering and listed on the First Section of the Tokyo Stock Exchange today. The company planned to sell 11.99 million shares to raise JPY30.86 billion (US$307 million) in total proceeds, according to previous disclosure […]

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Beijing-based investment banking and private equity firm Zuoyu Capital has teamed up with Zhejiang Travel Group to establish a RMB2 billion (US$295 million) private-public fund to invest in tourism services and platforms associated with ancient villages in the province. The fund aims to raise RMB1 billion initially, then expand to RMB2 billion later, it announced […]

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Hong Kong-based private real estate investment firm Gaw Capital Partners has made an undisclosed investment in naked Hub, a Shanghai-based co-working space network, the firm announced today. The capital will be used to finance the opening of new naked Hub work space inside and outside of China, adding 24 to 30 new naked Hub locations […]

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Ant Financial Services Group, the financial services affiliate of Alibaba Group Holding Ltd., has accelerated global expansion plans as it took a minority interest in Thailand's online payment firm Ascend Money. Details of the deal were not disclosed but media reports indicated that Ant Financial is taking a 20% stake initially, with an option to […]

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Global private equity firm Advent International has acquired a majority stake in Chinese mattress maker King Koil Shanghai Sleep System Co., Ltd. from CITIC Capital Partners, it announced today. Financial terms were not disclosed. King Koil China’s management team will retain a minority stake in the company and continue to lead the business following the […]

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COFCO Meat Holdings Ltd., a Chinese pork producer backed by KKR & Co. and other investors, has completed an initial public offering raising HK$1.95 billion (US$251 million) in total proceeds, lowered than previously expected. The company, whose largest shareholder is state-owned food giant COFCO Corp., secured Haier Group Corp, China Life Insurance Co. and China […]

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Warburg Pincus and Chinese data center provider 21Vianet Group, Inc. have entered into a strategic investment agreement to form a joint venture to invest in wholesale data centers and built-to-suit data center projects in China, the companies announced. No financial details were disclosed. With strong demand for data center space driven by the exponential growth […]

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Concerns grow that Beijing is upending region’s balance of power

Removal of informal retirement rule could extend anti-graft tsar Wang Qishan’s career

A Shenzhen-based alternative investment firm announced yesterday in Hong Kong that it had raised US$300 million in a series D round of financing led by Atlas Ventures. But the claim appears to be a lie. Shenzhen Zijin Tongcai Investment Fund Management Co., Ltd., a company established in June 2015, announced the news at the Peninsula […]

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Sino-French private equity firm Cathay Capital Private Equity has made an undisclosed investment in European design and art school AD Education, with the aim to accelerate its international operations and digital products roll-out. The round is led by Cathay Capital Sino-French SME Fund, in collaboration with French investment firm BPI France. Cathay has close relationship […]

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Note carries warning that counterfeiters would be beheaded

Linux Foundation-led Hyperledger blockchain project announced the addition of ten new members, including Chinese telecom device maker Huawei. Other new …