FUNDS

Xiaomi Ventures To Invest $25M In Andon Health

Xiaomi Ventures To Invest $25M In Andon Health

Chinese smartphone maker Xiaomi Inc.'s venture capital arm has agreed to invest US$25 million in Chinese health products maker Andon Health Company Limited, according to a regulatory filing. Tianjin-based Andon Health will establish a new entity called iHealth Inc. in Cayman Island, and inject its related global businesses in electronic and smart health device division […]

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SAIF, Haier To Launch $52M Smart Home Industry Fund

SAIF, Haier To Launch $52M Smart Home Industry Fund

China-focused private equity firm SAIF Partners has teamed up with Chinese consumer electronics maker Haier Group to jointly establish a RMB320 million (US$52.1 million) industry fund to invest in smart home products and services in China, according to a securities filing submitted by Haier. Haier Group, its venture capital arm Qingdao Haier Venture Capital Company […]

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Shoreline Capital Raises $285M For Its Third China Distressed Debt Fund

Shoreline Capital Raises $285M For Its Third China Distressed Debt Fund

China-focused distressed debt and special situations firm Shoreline Capital Management (click here to listen to Shoreline's co-founder Benjamin Fanger on China Money Podcast) has held a second closing of US$285 million for its third fund, which is more than half of its total fundraising target, according to media reports. Shoreline China Value III L.P. is […]

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Alibaba's Debut Could Become The Biggest IPO Globally Ever

Alibaba's Debut Could Become The Biggest IPO Globally Ever

China's e-commerce giant Alibaba Group has priced its U.S. IPO at US$68 per share, much higher than its initial price range of US$60 to US$66 apiece, raising a total of US$21.8 billion in a New York Stock Exchange debut, if not counting proceeds from over-allotment options. This will make the float the third largest IPO […]

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Carlyle, Yunfeng Capital To Exit From GDC Technology

Carlyle, Yunfeng Capital To Exit From GDC Technology

Beijing-based Chinese film production firm Huayi Brothers Media Corp. has agreed to increase its shareholdings in digital cinema solution provider GDC Technology Limited to 29% from the current 12%, for a total price of as much as US$84.4 million, according to a regulatory filing. The investment will enable GDC Technology's financial backers, The Carlyle Group […]

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Hosen Capital Leads $20M Series B Round In Etaoshi

Beijing-based online food ordering and delivering service provider Etaoshi has received US$20 million series B financing from Beijing New Hope Industry Investment Center L.P., according to Chinese media reports. Beijing New Hope Industry Investment Center is managed by Hosen Capital, which is the investment arm of Chinese agribusiness conglomerate New Hope Group. Launched in February […]

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Venture-Backed Yongche Partners With Haier On Financial Leasing Services

Beijing-based car rental service provider Yongche has established a strategic partnership with Haier Financial Services China Co., Ltd. to provide financial leasing services to Chinese small and medium sized car rental firms, according to Chinese media reports. Haier Financial Services China, a financial leasing arm established by Chinese consumer electronics maker Haier Group in Shanghai's […]

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JD.Com, Macquarie Capital Lead $50M Series D Round In Daojia

JD.Com, Macquarie Capital Lead $50M Series D Round In Daojia

Beijing-based online food ordering and delivery platform Daojia says it has completed series D round of financing, raising US$50 million led by Chinese e-commerce firm JD.com and Macquarie Capital, according to a company announcement. Founded in April 2010, Daojia received an undisclosed series A round of financing led by Morningside Ventures in July that year. […]

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Warburg Pincus, Tiger Global Lead $250M Series C In Youxinpai

Warburg Pincus, Tiger Global Lead $250M Series C In Youxinpai

Beijing-based used-car online auction platform Youxinpai has raised US$260 series C round of financing led by private equity firm Warburg Pincus and New York-based Tiger Global Management, according to a company announcement. Other undisclosed investors also participated in the round. Launched in 2011, Youxinpai previously raised two rounds of financing from venture capital firms Legend […]

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ECONOMY

China's New Loan Reaches RMB703B In August

Data for new RMB loan in August turned in line with expectations, reaching RMB703 billion, though RMB10 billion less over one year earlier, according to data released by the People’s Bank of China.

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China's CPI Moderates To A 2% Increase In August

China consumer price index (CPI) increased 2.0% year-on-year in August, compared with market consensus of 2.2% and July's 2.3% hike, according to data released by China's National Bureau of Statistics.

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China's August Exports Slow Down To 9.4%

China’s exports rose 9.4% in August over a year earlier to US$208.5 billion, slightly above market expectation, down from a growth rate of 14.5% in the prior month, according to data released by China's General Administration of Customs.

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China's Official PMI Drops To 51.1 In August

China’s official manufacturing purchasing managers' index (PMI) declined to 51.1 in August from 51.7 in July, slightly lower than market expectation, according to data released by China’s National Bureau of Statistics.

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China's Flash HSBC PMI Dropped To 50.3 In August

China's flash manufacturing purchasing managers index (PMI) came in at 50.3 in August, down from 51.7 in July. The reading is a three-month low.

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China's July Total Social Financing Plummeted To RMB273.1B

China’s total social financing plummeted to RMB273.1 billion in July from RMB1.97 trillion in June, much lower than the RMB1.5 trillion market expectations and is the lowest monthly reading since October 2008, according to data released by the People’s Bank of China.

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China's CPI Remains Steady At 2.3% In July

China’s July consumer price index (CPI) recorded a 2.3% increase year-on-year, the same as last month, below the government’s annual inflation objective, according to data released by China's National Bureau of Statistics.

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China's July Exports Beat Expectations, Up 14.5%

China's exports rose dramatically to US$212.9 billion in July, up 14.5% year-on-year, higher than market expectations, according to data released by China's General Administration of Customs. China’s import decreased by 1.6% to US$165.6 billion last month, versus a 5.5% increase in June, largely due to a high base at the same time last year. This […]

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China’s Official PMI Jumps To 51.7 In July

China’s official manufacturing purchasing managers' index (PMI) picked up to 51.7 in July from June’s 51.0, hitting a 27-months high, according to data released by China’s National Bureau of Statistics.

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BUSINESS

Harvard Medical School, Others To Inject $1.3B To Build Shenzhen Hospitals

Harvard Medical School, Others To Inject $1.3B To Build Shenzhen Hospitals

Twenty-four domestic and international investors and institutions plan to sign an agreement next Monday with the government of Shenzhen, to invest a total of RMB8 billion (US$1.3B) to build private and public hospitals in the city, according to Chinese media reports. The planned investment is part of the drive initiated by the Chinese government since […]

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China Grants BNP Paribas First RQFII License In The Eurozone

China Grants BNP Paribas First RQFII License In The Eurozone

BNP Paribas Investment Partners, the asset management arm of French bank BNP Paribas, has been granted a RMB Qualified Foreign Institutional Investor (RQFII) license by the China Securities Regulatory Commission (CSRC), according to a company announcement. This makes BNP Paribas Investment Partners one of the first companies in France and the Eurozone to be granted […]

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Ropes & Gray Hires Patrick Sinclair As Hong Kong-Based Partner

Ropes & Gray has hired Patrick S. Sinclair as a Hong Kong-based partner in its government enforcement group, as the U.S. law firm sees continued U.S. investigations on business fraud in Asia, says a company announcement. Sinclair, 38, is a veteran federal prosecutor who played a key role in the Eastern District of New York’s […]

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CalPERS To Exit All Hedge Fund Investments

CalPERS To Exit All Hedge Fund Investments

The California Public Employees’ Retirement System (CalPERS), the largest public pension fund in the U.S. with approximately US$300 billion under management, says it will eliminate its hedge fund program as part of an ongoing effort to reduce complexity and costs in its investment program, according to an announcement. The decision, supported by its investment committee, […]

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Global Top 300 Pension Fund Assets Hit Record $15T

Global Top 300 Pension Fund Assets Hit Record $15T

The total assets of the world’s largest 300 pension funds grew by over 6% in 2013 to reach a new high of almost US$15 trillion, according to a joint research done by Pensions & Investments and Towers Watson research. The report shows that Latin American and African funds had the highest five-year combined compound growth […]

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Nomura Asset Management To Establish Joint QFLP Fund In Qianhai

Nomura Asset Management To Establish Joint QFLP Fund In Qianhai

Nomura Asset Management Co., Ltd. says that it has established a joint venture with Shenzhen Hua Xia Ren He Capital Management Co., Ltd. to set up a Qualified Foreign Limited Partner (QFLP) fund in the Qianhai Economic Zone in Shenzhen, China, according to a company announcement. The city of Shenzhen has granted a QFLP license […]

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Shenhua To Jointly Develop Russian Coal Mines With Rostec

Shenhua To Jointly Develop Russian Coal Mines With Rostec

Russian industrial conglomerate Rostec and Chinese coal producer Shenhua Group have agreed to jointly invest as much as US$10 billion to explore coal deposits in Siberia and the Far East of Russia, develop transport infrastructure and build generating capacities and high-voltage transmission lines for exporting electricity to China, according to an announcement. The CEO of […]

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Gaw Capital, CITIC Are Asia's Most Consistent Performing Real Estate Funds

Gaw Capital, CITIC Are Asia's Most Consistent Performing Real Estate Funds

Three Asia-based private real estate fund managers, Hong Kong-based Gaw Capital Partners and CITIC Capital, as well as India's HDGC Property Ventures, are the most consistent performing firms in the region, based on a new ranking compiled by research firm Preqin. Using quartile rankings based on both the return multiple and internal rate of return […]

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Dagong Launches Hong Kong Division In Regional Expansion Push

Dagong Launches Hong Kong Division In Regional Expansion Push

Chinese credit rating agency Dagong Global Credit Rating Co., Ltd. says it has officially launched its Hong Kong division, Dagong Global Credit Rating (Hong Kong) Co., Ltd., to spearhead its regional expansion, according to a company announcement. Dagong Hong Kong was granted a Type 10 License by the Securities and Futures Commission of Hong Kong […]

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OPINION

Shanghai's New Gold Board Is A Smart Move To Promote China's RMB

Shanghai's New Gold Board Is A Smart Move To Promote China's RMB

The Shanghai Gold Exchange, the biggest physical bullion bourse in the world, announced that an international gold trading board is officially launched in Shanghai Free Trade Zone (FTZ) yesterday. The bourse launches three RMB-denominated physical bullion spot contracts of 100 grams, 1 kilogram (kg) and the bigger London gold delivery bar weighing 12.5 kg to […]

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China Home Price Decline Accelerates, But Rebound Could Be Ahead

China Home Price Decline Accelerates, But Rebound Could Be Ahead

Prices of China's new commodity residential properties for 70 medium to large sized cities surveyed by the National Bureau of Statistics (NBS) declined by 1.15% month-on-month in August, down from a decline of 0.93% in July. At the same time, Soufun's 100 city average new home price index edged up to -0.59% month-on-month in August […]

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Has China's Central Bank Blinked?

Has China's Central Bank Blinked?

China's central bank has provided RMB500 billion of liquidity to the nation's biggest five banks for RMB100 billion each, via its 3-month Standing Lending Facility (SLF). The amount is roughly equivalent to one 50 basis point rate cut in the commercial banks' required reserve ratio (RRR). Has the People's Bank of China finally blinked in […]

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Shockingly Weak August Data Will Prompt New Stimulus Measures

Shockingly Weak August Data Will Prompt New Stimulus Measures

China's weak August economic activity data will prompt Beijing to significantly step up stimulus efforts in response, but the weakness will continue a while before any potential improvement, says a report by BofA Merrill Lynch Global Research. China's August industrial production, retail sales and year-to-date fixed asset investment fell to 6.9%, 11.9% and 16.5% year-on-year […]

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China's RMB Internationalization Takes Another Step Forward

China's RMB Internationalization Takes Another Step Forward

The removal of the RMB conversion cap imposed on Hong Kong residents and the establishment of Bank of China's Paris branch as the official RMB clearing bank are steps forward on the path of the Chinese currency's internationalization process, says a report issued by the Australia and New Zealand Banking Group Limited (ANZ). The Hong […]

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China's August Credit Data Improves, But Risks Remain

China's August Credit Data Improves, But Risks Remain

China's August monetary data suggest that China’s credit extension has improved somewhat after the sharp decline in July, which could ease concerns on a hard landing. But the rising market volatility and uncertainty could result in a disorderly de-leveraging in Chinese economy and increase systematic risks, says a report released by the Australia and New […]

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Why Markets Should Not Focus Too Much On China's M2?

Why Markets Should Not Focus Too Much On China's M2?

The markets have overreacted toward a remark regarding China's M2 growth made by Chinese Premier Li Keqiang, as the M2 figure has become less sufficient in measuring credit growth, says a report by BofA Merrill Lynch Global Research. While speaking to business leaders on the eve of the World Economic Forum summer gathering in Tianjin, […]

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Is China's Shadow Banking System Shrinking Too Fast?

Is China's Shadow Banking System Shrinking Too Fast?

China’s shadow banking system is experiencing fast de-leveraging. But a rapid and disorderly de-leveraging will be dangerous, and it is important for China to develop another well-regulated financing channel to meet the funding demand in the shadow banking system, says a report by the Australia and New Zealand Banking Group Limited (ANZ). The share of […]

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Chinese Banks' NPL Ratio Could Reach High Double-Digits

Chinese Banks' NPL Ratio Could Reach High Double-Digits

China today is facing many similar problems Japan did in the late 1980s and early 1990s. The ultimate non-performing loan (NPL) ratio in China in this credit cycle could be much higher than Japan's worst of over 8%, and could end up with a significantly high double-digit figure, says a BofA Merrill Lynch Global Research […]

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