FUNDS

Venture-Backed Sky Solar Plans $173M US IPO

Venture-Backed Sky Solar Plans $173M US IPO

Hong Kong-headquartered solar park developer Sky Solar Holdings, Ltd., backed by IDG-ACCEL China Capital, has filed for an IPO on the NASDAQ to raise as much as US$172.5 million, according to a securities filing. The company is planning to sell 12.5 million American Depository Shares (ADS) at US$10 to US$12 apiece. IDG-ACCEL China Capital, a […]

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Vertex Venture Leads Series B For App Maker Ayibang

Vertex Venture Leads Series B For App Maker Ayibang

Beijing-based housekeeping services app maker Ayibang has received tens of millions U.S. dollar series B financing led by Vertex Venture Holdings Ltd., according to a post published on the company's official Weibo account. Existing investors Shunwei Capital Partners and Ceyuan Ventures also participated. The company says it will use the proceeds to expand its services […]

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TPG-Backed China Grand Auto To Hold Off HK IPO

TPG-Backed China Grand Auto To Hold Off HK IPO

Shanghai-based car dealership China Grand Automotive Services Co., Ltd., backed by TPG Capital, has reportedly put on hold a planned Hong Kong IPO to raise around US$800 million, according to media reports. Representatives of TPG did not respond to inquiries to confirm the news. The company may not launch an IPO this year, and it […]

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Sequoia Capital Leads $55M Series C Financing In 51Talk

Sequoia Capital Leads $55M Series C Financing In 51Talk

Beijing-based online English language education firm 51Talk says it has received US$55 million series C financing led by Sequoia Capital, according to a statement posted on its official Weibo account. Existing investors Shunwei Capital and DCM also participated.

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Tencent Leads $350M Series C In Mobile E-Commerce Firm KouDai

Tencent Leads $350M Series C In Mobile E-Commerce Firm KouDai

Beijing-based mobile e-commerce platform KouDai has received US$350 million series C round of financing led by Chinese Internet giant Tencent Holdings Limited, according to a statement posted on the company's official Weibo account. Tencent invested US$145 million in the round. In return, Tencent reportedly received around 10% of the company, but this information cannot be […]

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Blackstone Raises $4.4B For First Asian Real Estate Fund

Blackstone Raises $4.4B For First Asian Real Estate Fund

Global private equity firm The Blackstone Group has raised over US$4.4 billion for its first Asian real estate fund, according to a securities filing submitted to the U.S. Securities and Exchange Commission on October 21. The fund, named Blackstone Real Estate Partners Asia L.P., was launched in April 2013. It has a hard cap of […]

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Sailing Capital Invests $50M In UK's Enigma Diagnostics

Sailing Capital Invests $50M In UK's Enigma Diagnostics

Salisbury, U.K.-based molecular diagnostic testing firm Enigma Diagnostics Ltd. says that Sailing Capital Management has agreed to invest US$50 million to help support the British company's global expansion, according to a company announcement. Sailing Capital is an investment firm controlled by Shanghai International Group (SIG). Last December, it launched a RMB5 billion buyout fund to […]

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Baidu, Ping An, Qihoo 360 Back Israel's Carmel Ventures

Baidu, Ping An, Qihoo 360 Back Israel's Carmel Ventures

Herzeliya, Israel-based venture capital fund Carmel Ventures says it has reached a US$197 million final closing of its latest fund, Carmel Ventures IV, according to a company announcement. Several Asian strategic investors including Baidu Inc., Ping An Insurance Company of China, Ltd., and Qihoo 360 Technology Co. Ltd. have invested in the fund as limited […]

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China Everbright To Acquire US Firm BEP For $90M

China Everbright To Acquire US Firm BEP For $90M

China Everbright Limited (CEL), the Hong Kong-listed financial services arm of China Everbright Group, has agreed to acquire U.S. vehicle testing equipment firm the Burke E. Porter Machinery Company (BEP) for US$90 million, according to a regulatory filing. CEL is buying all outstanding shares of BEP, which will continue to be run by its current […]

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ECONOMY

China's HSBC Flash PMI Slightly Up To 50.4 In Oct

The HSBC flash China Manufacturing Index (PMI) edged up to three-month high of 50.4 in October, slightly up from 50.2 final reading in September, in line with market estimates.

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China's GDP Slows To 7.3% In Q3

China's GDP growth slowed to 7.3% in the third quarter amid weaker domestic demand, beating market expectation of 7.2%, according to China's National Bureau of Statistics.

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China's CPI Moderates To 1.6% In September

China consumer price index (CPI) increased 1.6% year-on-year in September, the lowest level since January 2010, according to data released by China's National Bureau of Statistics.

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China's September Exports Bounce Back To 15.3% Growth

China’s export for September picked up by 15.3% year-on-year to reach US$213.7 billion, beating market estimate, according to data released by China's General Administration of Customs.

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China's Official PMI Remains Steady At 51.1 In September

China's official purchasing manufacturing managers' index (PMI) remains constant at 51.1 in September over the previous month, according to data released by China’s National Bureau of Statistics.

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China's HSBC Flash PMI Slightly Up To 50.5 In Sep

The HSBC flash China Manufacturing Index (PMI) came in at 50.5 in September, slightly up from 50.2 in August. The reading is a two-month high. The flash China Manufacturing Output Index was 51.8 in September, unchanged from August’s two-month low.

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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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BUSINESS

Mitsui & Co. Acquires 20% Of Tsit Wing International For $20.6M

Mitsui & Co. Acquires 20% Of Tsit Wing International For $20.6M

Hong Kong-based food conglomerate Tsit Wing International Holdings Limited says that Mitsui & Co., Ltd. has acquired less than 20% stake for JPY2.2 billion (US$20.6 million) to become a strategic investor of the company, according to a company announcement. Mitsui & Co., a Japanese general trading companies and part of the Mitsui Group, bought the […]

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Advent International Adds Yu Dahai As Operating Partner

Global private equity firm Advent International says it has hired Dr. Yu Dahai as an operating partner in the chemicals sectors, according to a company announcement. Dr. Yu will advise and work closely with Advent’s chemicals team to help source new investment opportunities globally, including China.

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CIC's Ding Xuedong Replaces Jin Liqun As CICC Chairman

CIC's Ding Xuedong Replaces Jin Liqun As CICC Chairman

China International Capital Corporation (CICC) says that Jin Liqun has resigned from the position of chairman and member of CICC’s board of directors, according to an emailed company statement. Ding Xuedong, chairman and CEO of China Investment Corporation (CIC), has been appointed as CICC’s new chairman and member of the board of directors.

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Asia Will Boost The Largest High Net Worth Individual Population By Year-End

Asia Will Boost The Largest High Net Worth Individual Population By Year-End

With Japan and China leading the way, the Asia Pacific region registered world-leading levels of high net worth individual (HNWI) population and wealth growth in 2013, with no signs of slowing down, according to the Asia Pacific Wealth Report 2014 published by RBC Wealth Management and outsourcing firm Capgemini. HNWIs are defined as those having […]

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Asia Ex-Japan Hedge Funds Outperform With 6.66% Year-To-Date Return

Asia Ex-Japan Hedge Funds Outperform With 6.66% Year-To-Date Return

Asia ex-Japan hedge funds lead global peers with year-to-date returns of 6.66%, due in large part to a 25.79% rise in Indian equities since the start of the year, according to the latest data released by hedge fund research firm Eurekahedge. Funds investing in North and Latin American came in second and third place, delivering […]

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Africa Is China's Largest Overseas Investment Destination

Africa Is China's Largest Overseas Investment Destination

China's growth and appetite for foreign direct investment (FDI) has made Africa its largest investment destination, according to a new report written by the Economist Intelligence Unit (EIU) for global law firm Mayer Brown. The report finds that whilst energy and mineral resources have attracted the most Chinese FDI, investments and activities that support Africa's […]

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China's RMB Predicted To Be Top Three Currencies In Five Years

China's RMB Predicted To Be Top Three Currencies In Five Years

China's RMB will become one of the three most important international currencies in the next five years, together with the U.S. dollar and the Euro, says David Daokui Li, a professor at Tsinghua University's School of Economics and Management. The Japanese Yen and the British Pound will gradually be replaced by the RMB in international […]

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Qatar Investment Authority Injects $620M In Lifestyle International

Qatar Investment Authority Injects $620M In Lifestyle International

Hong Kong-based department store operator Lifestyle International Holdings Limited says that a subsidiary of the Qatar Investment Authority has agreed to acquire a minority stake of the company for a total price of HK$4.8 billion (US$620 million), according to a company announcement. Qatar Investment Authority will acquire over 324 million shares of the Hong Kong-listed […]

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Alibaba Launches Ant Financial To Better Serve Small Enterprises

Alibaba Group Holding Ltd.'s financial services arm, Ant Financial Services Group, has been officially established, according to a company announcement. Formerly known as Small and Micro Financial Services Company, the company initiated its formation process in early 2013. It is comprised of Alipay, Alipay Wallet, Yu’e Bao, Zhao Cai Bao, Ant Credit and MYbank, which […]

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OPINION

Did China's 4th Plenum Beat Expectations?

Did China's 4th Plenum Beat Expectations?

Now, China's ruling Communist Party (CPC) just completed its four-day 4th Plenum. How is the market going to react? According to a research report by BofA Merrill Lynch Global Research, it should be overall positive, as the CPC emphasizes constitution more than ever, and the messages of the communique released today by the official Xinhua […]

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China's October PMI Signals A Stabilizing Economy

China's October PMI Signals A Stabilizing Economy

China's HSBC flash PMI edged up to 50.4 in October from 50.2 in September, slightly strong than market expectation of 50.2. This signals that growth momentum has only succeeded in stabilizing, but more policy easing is needed to achieve growth target, says a research report issued by Nomura. The index' components are not as encouraging […]

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Reading China's Property Sector In Today's Two-Tier Interest Rate World

Reading China's Property Sector In Today's Two-Tier Interest Rate World

In today's two-tier interest rate world, the Chinese property sector looks particularly fragile, says a research report written by Mark Tinker, head of AXA Framlington Asia, a specialist investment management firm within the AXA Investment Managers Group. Currently, of the US$37 trillion in global government bond markets, 60% of them are yielding less than 1%, […]

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China Business Sentiment Hits Eight Month Low In October

China Business Sentiment Hits Eight Month Low In October

Business confidence slipped for the second consecutive month in October, falling to an eight month low. The MNI China Business Indicator fell to 51.7 in October, a further deterioration from September’s sharp decline to 52.2, according to latest data jointly released by MNI Indicators and Deutsche Börse Group. While the indicator remains above the breakeven […]

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What To Expect From The 4th Plenum Of China's Ruling Party?

What To Expect From The 4th Plenum Of China's Ruling Party?

The Communist Party of China (CPC) will hold its 4th Plenum on October 20 to 23, and is likely to introduce a series of reform measures that will have significant impact on the Chinese economy and society in the coming years, says a BofA Merrill Lynch Global Research report. The 4th Plenum is supposed to […]

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China's Foreign Reserves Drop Amid Recovering Credit Condition

China's Foreign Reserves Drop Amid Recovering Credit Condition

China's freshly released credit data shows that new loans have recovered to the normal level due to the ongoing targeted easing policies, but the de-leveraging of shadow banking activity continues, says a research report by ANZ's chief China economist Liu Li-Gang. China’s new RMB loans picked up to RMB857.2 billion in September, above market expectations. […]

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Energy, Telecommunication Shares Will Benefit As China Pushes For Reform

Energy, Telecommunication Shares Will Benefit As China Pushes For Reform

China’s reforms will be the key factor to watch for the country’s equity markets over the medium term. Chinese markets still offer many good opportunities, and those will only improve as these reforms begin to pay off, writes Helen Zhu, head of China Equities at BlackRock, Inc., in a report. Two key upcoming meetings will […]

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With Inflation At Four-Year Low, Should China Worry About Deflation?

With Inflation At Four-Year Low, Should China Worry About Deflation?

The author is Liu Li-Gang, chief economist of Greater China at ANZ China's consumer price index (CPI) inflation slowed sharply to 1.6% year-on-year in September, the lowest level since January 2010, compared with 2.0% in the prior month. On a monthly basis, CPI rose 0.5%, lower than 0.8% recorded last September. The sharp deceleration of […]

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Dim Sum Bond Market Set For Another Record Year

Dim Sum Bond Market Set For Another Record Year

Despite a weak third quarter issuance of dim sum bonds, a type of bonds issued outside of China but denominated in Chinese RMB, Fitch Ratings still expects another record breaking year in 2014, says a research report issued by the rating agency. Total dim sum bond issuance in U.S. dollar terms fell by 65% to […]

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