FUNDS

Tiger Global Cuts Losses On Qihoo 360 Position

Tiger Global Cuts Losses On Qihoo 360 Position

New York-based hedge fund Tiger Global Management LLC has sold its equity holdings of New York Stock Exchange-listed Chinese security software firm Qihoo 360 Technology Co. Ltd., cutting losses on a stock that has seen its prices drop significantly during the past four months, according to the firm's disclosure documents. On August 15, Tiger Global […]

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Unisound Completes $50M Series B Financing

Unisound Completes $50M Series B Financing

Beijing-based voice recognition and language processing start-up Unisound has completed US$50 million series B financing, according to the company's official Weibo account. Participating investors are not disclosed. Founded in 2012, Unisound previously received around RMB10 million (US$1.6 million) angel investment and RMB100 million (US$16 million) series A financing from undisclosed investors.

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Baidu Confirms Investment In Venture-Backed Uber

Baidu Confirms Investment In Venture-Backed Uber

Chinese search engine Baidu Inc. and San Francisco-headquartered ride-share and taxi service firm Uber jointly announced a strategic investment and cooperation agreement, confirming widespread media reports last week, according to a statement posted on Uber's website. Uber CEO Travis Kalanick and Baidu chairman and CEO Robin Li announced the agreement at a signing ceremony at […]

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CITIC Capital Exits Japan's Narumi Corporation Via Trade Sale

CITIC Capital Exits Japan's Narumi Corporation Via Trade Sale

CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Limited, says that it has agreed to sell all of its stakes of Japanese tableware maker Narumi Corporation to Japanese glass ware and ceramic products manufacturer Ishizuka Glass Co., Ltd., according to a company announcement. Deal terms were not disclosed. The sale, which is […]

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Tiger Global, Vy Capital Invest $36M In Mobile App Maker Nice

Tiger Global, Vy Capital Invest $36M In Mobile App Maker Nice

Chinese mobile app maker Nice has completed US$36 million series C financing led by New York-based hedge fund Tiger Global Management and Vy Capital, an investment firm exclusively focused on Internet and software sectors, according to Chinese media reports. Launched a year ago, Nice received US$8 million series A financing from Matrix Partners and Morningside […]

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Haitong Kaiyuan Investment Leads $25M Series B In Mogoroom

Haitong Kaiyuan Investment Leads $25M Series B In Mogoroom

Shanghai-based young professional apartment rental O2O (online-to-offline) platform Mogoroom has completed US$25 million series B financing led by Haitong Kaiyuan Investment Co., Ltd., according to the company's official Weibo account. IDG Capital and Ping An Ventures also participated. The company says it will use the proceeds to expand its rental network, improve its services and […]

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Shenzhen Fortune Venture Capital Launches $805M New Media Fund

Shenzhen Fortune Venture Capital Launches $805M New Media Fund

Shenzhen-listed Hunan TV & Broadcast Intermediary Co., Ltd. says its subsidiary, Shenzhen Fortune Venture Capital Co., Ltd., has launched a RMB5 billion (US$805 million) industry fund to invest in the Internet and new media sectors in China, according to a regulatory filing. Shenzhen Fortune Venture Capital has committed RMB898.2 million (US$145 million), or 17.96% of […]

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TPG-Backed Li Ning Plans $218M Share Offering To Support Growth

TPG-Backed Li Ning Plans $218M Share Offering To Support Growth

Beijing-based Chinese sporting goods firm Li Ning Co. Ltd., backed by U.S. private equity firm TPG Capital and Singapore's sovereign fund GIC, says it plans to raise between HK$1.5 billion (US$193 million) to HK$1.69 billion (US$218 million) by issuing ordinary shares and convertible securities to the public to support the company's future growth, according to […]

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Tsing Capital Participates In $44.5M Series D Round For Phononic

Tsing Capital Participates In $44.5M Series D Round For Phononic

Durham, North Carolina-based solid state cooling and heating products maker Phononic says that it has completed US$44.5 million series D funding led by Eastwood Capital Corp and the Wellcome Trust, with participation of two Chinese venture firms, according to a company announcement. The WLR China Energy Infrastructure Fund, Beijing-based venture firm Tsing Capital, Venrock, Oak […]

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ECONOMY

China's HSBC Flash PMI Declines To 49.5 In Dec

China's December HSBC flash manufacturing purchasing managers’ Index (PMI) came in at 49.5, slightly lower than November's 50.0 and reaching a seven-month low, according to data released by the HSBC Group. December HSBC Flash China Manufacturing Output Index came in at 49.7, compared with 49.6 in November, a two-month high.

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China's New Loan Bounces Back To RMB852.7B In November

China's new RMB loans reached RMB852.7 billion in November, 55.5% higher than that of the prior month, beating market expectations RMB655.0 billion, according to data released by the People’s Bank of China.

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China's CPI Weakens To 1.4% In November

China consumer price index (CPI) increased 1.4% year-on-year in November, a five-year low and down by 0.2 percentage points from the previous month, according to data released by China's National Bureau of Statistics.

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China's Exports Growth Slows To 4.7% In November

China's exports expanded 4.7% to US$211.7 billion in November, significantly lower than an 11.6% increase in October, according to data released by China's General Administration of Customs.

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China's Official PMI Drops To 50.3 In November

China’s official PMI, the bellwether of large industrial firms, declined to 50.3 in November, below market consensus of 50.5 and down from 50.8 in the previous month, according to data released by China’s National Bureau of Statistics.

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China's HSBC Flash PMI Declines To 50 In Nov

China's November HSBC flash manufacturing purchasing managers’ Index (PMI) came in at 50, slightly lower than October's 50.4 and reaching a six-month low, according to data released by HSBC Group. The flash China manufacturing output index was 49.5 in November, down from 50.7 in October, and also reaching a seven-month low.

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China's New Loan Declines To RMB548B In October

China's new RMB loans were RMB548.3 billion in October, 36% lower than that of the prior month, failing to meet market expectations, according to data released by the People’s Bank of China.

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China's CPI Remains Stable At 1.6% In October

China consumer price index (CPI) increased 1.6% year-on-year in October, keeping steady from the previous month, according to data released by China's National Bureau of Statistics.

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China's Exports Increase 11.6% In October

China’s export for October picked up by 11.6% year-on-year to US$206.9 billion, beating market estimates, according to data released by China's General Administration of Customs.

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BUSINESS

China Revises 2013 GDP Up By 3.4%

China Revises 2013 GDP Up By 3.4%

China has revised up its 2013 GDP to an estimated RMB58.8 trillion, or US$9.5 trillion, after the completion of a third nationwide economic census, according to an announcement by the National Bureau of Statistics. The revised number is up 3.4% from an estimated RMB56.88 trillion previously. The National Bureau of Statistics says the revision will […]

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Investment Banking Revenue In Asia Surges 63% In 2014

Investment Banking Revenue In Asia Surges 63% In 2014

Asia Pacific (ex-Japan) saw equity market investment banking revenue surge 63% year-to-date in 2014 compared to the same period last year, reaching a total revenue of US$4.5 billion, the highest year-to-date level since the US$6.0 billion recorded in 2010, according to data tracker Dealogic. Goldman Sachs ranks as the number one in the region for […]

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Anbang Insurance To Acquire Delta Lloyd Bank Belgium For$273M

Anbang Insurance To Acquire Delta Lloyd Bank Belgium For$273M

Dutch insurer Delta Lloyd NV says that it has reached an agreement to sell its banking unit Delta Lloyd Bank Belgium to China's Anbang Insurance Group Co. Ltd. for €219 million (US$273 million), according to a company announcement. The deal is the third major overseas acquisitions revealed by Anbang in a short three-month period. In […]

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Bluefocus To Acquire Canada's Vision7 International For $180M

Bluefocus To Acquire Canada's Vision7 International For $180M

Beijing-based advertising and marketing firm Bluefocus Communication Group Co., Ltd. is planning to acquire 85% of Canadian advertising and public relations firm Vision7 International Ulc for RMB1.12 billion (US$180 million), according to a regulatory filing. The remaining 15% stake will be held by the management team of Vision7 Intentional. The deal has won the approval […]

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Qihoo 360 Invests $409M In Smartphone Joint Venture With Coolpad

Qihoo 360 Invests $409M In Smartphone Joint Venture With Coolpad

Chinese security software firm Qihoo 360 Technology Co. Ltd. says it has invested formed a strategic partnership with Chinese smartphone maker Coolpad Group Limited, and it is investing US$409 million in cash to take a 45% stake in a joint venture to be established with Coolpad, according to a company announcement. The joint venture will […]

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Asian Development Bank Downgrades China Growth Forecasts

Asian Development Bank Downgrades China Growth Forecasts

Growth forecast for China is revised downward to 7.4% in 2014 from 7.5% previously, and to 7.2% from 7.4% for 2015, says the Asian Development Bank (ADB) in a new report. The bank is forecasting gross domestic product (GDP) growth for the Asian region of 6.1% in 2014, down from 6.2% expected in September, and […]

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Greenland Breaks Ground For Brooklyn Property Project

Greenland Breaks Ground For Brooklyn Property Project

A property project in Brooklyn, New York, co-developed by Shanghai-based Chinese property developer Greenland Group Co., has held a ground-breaking ceremony for one of its new residential buildings, according to a statement posted on the city government's website. Last October, Greenland agreed to partner with New York-based real estate firm Forest City Ratner Companies to […]

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China Predicted To Be Among Top Three Stock Markets In 2015

China Predicted To Be Among Top Three Stock Markets In 2015

China, together with India and the U.S., are considered the top three markets that offer the best investment opportunities in 2015, according to the findings of a survey conducted by the CFA Institute. The annual survey, which is conducted among over 5,000 CFA charterholders and members globally, found that investors expect China and India to […]

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China Allows Insurers To Invest In Venture Capital Funds

China Allows Insurers To Invest In Venture Capital Funds

China has allowed insurance companies to invest in venture capital funds, according to a statement posted on the China Insurance Regulatory Commission's website. The move is aimed at supporting the country's small and medium sized enterprise (SME) sector. It follows the regulator's approval for insurance companies to invest in private equity funds in 2012.

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OPINION

Chinese Banks' Asset Quality Will Worsen As Country Re-Balances

Chinese Banks' Asset Quality Will Worsen As Country Re-Balances

Challenges faced by the Chinese financial system will continue to build in 2015 as the government works to re-balance economic growth away from investment and towards private consumption. The pressure on Chinese banks' asset quality will also worsen, says a Fitch Rating research report. China's GDP growth is currently projected to slow to 6.8% in […]

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More Troubles To Come Along The New Silk Road In 2015?

More Troubles To Come Along The New Silk Road In 2015?

The author is Alex Wolf, emerging markets economist at Edinburgh-headquartered asset manager Standard Life Investments In a year that saw the oil price collapse by half, Russia invade Ukraine, an unprecedented number of elections, and China struggling to manage a domestic slowdown, there has been no shortage of political risk to take account of across […]

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Qihoo Embarks On Strategic Transition With Smartphone Joint Venture

Qihoo Embarks On Strategic Transition With Smartphone Joint Venture

The author is founder and CEO of T.H. Capital Tian X. Hou Qihoo just announced that it formed a joint venture with Chinese smartphone maker Coolpad, in which Qihoo will focus on building a mobile ecosystem to drive its future development in the mobile world. Coolpad is about 11.2% of China Mobile’s user base, 8.4% […]

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China's Stock Market Mania Brews Increasing Risks

China's Stock Market Mania Brews Increasing Risks

China's recent stock market mania decouples from its weakening economic fundamentals. There are growing signs showing the stock market risk is on the rise, and investors should be cautious, says a research report by Goldman Sachs Gao Hua. China's November industrial production softened and missed market expectation, reflecting softer domestic demand and disruptions from the […]

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Falling Oil Price Gives Rise To Frontier Markets Opportunities

Falling Oil Price Gives Rise To Frontier Markets Opportunities

Falling oil prices may present great investment opportunities in some of the world's risky frontier markets, says Baring Frontier Markets Fund, a unit of Baring Asset Management, in a report. Since June 18, oil prices have fallen sharply because of a combination of excess supply, slowing demand and strength in the U.S. dollar. The spot […]

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Housing Prices To Stabilize In China's Major Cities In 2015

Housing Prices To Stabilize In China's Major Cities In 2015

In 2015, residential prices in Mainland China are expected to stabilize due to policy relaxation and interest-rate cuts, predicts global property consultancy Knight Frank. Many Chinese cities have relaxed purchase restrictions and China's central bank has lowered interest rates to boost the Mainland property market, same as during downturns in the past. But this time, […]

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November's Weak Inflation Data May Push China To Cut Reserve Ratio

November's Weak Inflation Data May Push China To Cut Reserve Ratio

With the latest weak November inflation data out, it becomes clearer that China has entered into a rapid dis-inflation process, and the government is more likely to cut banks' reserve requirement ratio (RRR) in order to stabilize the economy, says a research report by The Australia and New Zealand Banking Group Limited (ANZ). China's consumer […]

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Reading Between The Lines Of China's Politburo Meeting Statement

Reading Between The Lines Of China's Politburo Meeting Statement

China's Politburo held a meeting last Friday, chaired by President Xi Jinping, and seems to have set a pro-growth tone for 2015, writes Goldman Sachs/Gaohua senior China macro economist Song Yu in a research report. It is routine for the top leadership to host the Politburo meeting ahead of the annual Central Economic Work Conference […]

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China Likely To Set 7% Growth Target For 2015

China Likely To Set 7% Growth Target For 2015

China's Central Economic Working Conference (CEWC), a key meeting held once a year to set the tone for next year's economic development, may begin sometimes this week. During the meeting, the government is likely to lower its 2015 economic targets for GDP growth to 7.0% from 7.5% in 2014, and consumer price index (CPI) inflation […]

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