FUNDS

JD.com Launches Equity Crowdfunding Platform In China

JD.com Launches Equity Crowdfunding Platform In China

Chinese e-commerce firm JD.com, Inc. has launched a crowdfunding platform to help finance, develop and promote the creation of start-ups in China, according to a company announcement. The new JD Equity Crowdfunding platform provides entrepreneurs access to a broad set of potential early-stage investors, as well as training and support options for companies throughout the […]

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GSR, Oak Investment-Led Consortium Acquires 80% Of Philips Lighting Unit

GSR, Oak Investment-Led Consortium Acquires 80% Of Philips Lighting Unit

GO Scale Capital, an investment fund sponsored by China-focused GSR Ventures and U.S. private equity firm Oak Investment Partners, has agreed to acquire an 80.1% stake in Philips NV's LED lighting components and automotive lighting business, according to a company announcement. The deal, which is expected to be completed in the third quarter, values the […]

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GGV, Shunwei Lead $29M Series B In Online Education Firm Zhan.Com

GGV, Shunwei Lead $29M Series B In Online Education Firm Zhan.Com

Shanghai-based online education firm Zhan.com has completed US$29 million series B financing led by GGV Capital and Shunwei Capital, according to a company announcement. Officially launched in 2011, Zhan.com received tens of millions RMB in series A financing from undisclosed investors in 2013. Zhan.com focuses on providing training courses for students preparing entrance exams for […]

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Coatue Leads $600M Investment In Combined Didi Dache-Kuaidi Dache

Coatue Leads $600M Investment In Combined Didi Dache-Kuaidi Dache

An investor consortium led by U.S. hedge fund Coatue Management LLC is to acquire a stake in a company that combines two leading Chinese taxi-hailing app makers, Didi Dache and Kuaidi Dache, for approximately US$600 million, according to media reports. The transaction values the combined company, which announced the merger in February and together takes […]

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Banyan Capital Leads $50M Series A In Online Education Firm Genshuixue

Banyan Capital Leads $50M Series A In Online Education Firm Genshuixue

Beijing-based online education platform Genshuixue has completed US$50 million series A financing led by Banyan Capital, according to announcements posted on the company's official Weibo account. Chinese venture firms QF Capital and GP Capital also participated. The round values the nine-month-old company at US$250 million. The financing round, which includes US$41 million from the three […]

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Focus Media To Raise $1.5B Via Reverse Merger Listing

Focus Media To Raise $1.5B Via Reverse Merger Listing

Shanghai-based Chinese digital media and display advertising company Focus Media Holding Limited is planning to list on the Chinese A-share market via a reverse merger, potentially raising a total of RMB9.2 billion (US$1.5 billion), according to leaked investor documents reported by Chinese media. After being taken private from the NASDAQ by company founder and a […]

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Aliyun Launches Founder+ Program To Promote Internet Innovation

Aliyun Launches Founder+ Program To Promote Internet Innovation

Aliyun, the cloud computing subsidiary of Alibaba Group Holdings, has launched a Founder+ program, with support from over 30 Chinese venture capital firms, more than 20 incubators and industrial parks, as well as dozens of developer service providers, according to an announcement posted on Aliyun's Weibo account. Chinese angel and venture firms including the ZhenFund, […]

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Hillhouse Capital Leads $20M Series B In Beequick

Hillhouse Capital Leads $20M Series B In Beequick

Beijing-based online community services O2O (online-to-office) platform Beequick has completed US$20 million series B financing led by Hillhouse Capital, according to Chinese media reports. Existing investor, Sequoia Capital, also participated in the round, which reportedly values the ten-month-old business at US$200 million. Launched in May 2014, Beequick received several million RMB angel investment from Chinese […]

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Baring Raises $365M For Inaugural Asia Real Estate Fund

Baring Raises $365M For Inaugural Asia Real Estate Fund

BPE Asia Real Estate, an affiliate of Baring Private Equity Asia, has raised US$365 million for its inaugural real estate fund. Named BPE Asia Real Estate Fund, it is one of the largest first time real estate funds raised by an independently owned manager in Asia, according to a company announcement. The news came one […]

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ECONOMY

China's Official PMI Edges Up To 50.1 In March

China's official manufacturing purchasing managers index (PMI) edged up to 50.1 in March from 49.9 in February, against market consensus of 49.7, according to data released by China’s National Bureau of Statistics. "We believe that recent easing efforts by Chinese authorities should have helped stabilize the growth momentum somewhat. In addition to monetary and fiscal […]

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China's HSBC Flash PMI Drops To 49.2 In March

China's HSBC flash manufacturing purchasing managers index (PMI) slipped to 49.2 in March, from a final reading of 50.7 and a flash reading of 50.1 in February. It is an 11-month low for the index. "The (reading)…signaled a slight deterioration in the health of China’s manufacturing sector in March. A renewed fall in total new […]

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China's New Loan Reaches RMB1.02T In February

China's new RMB loans reached RMB1.02 trillion in February, beating market expectations of RMB750 billion, according to data released by the People’s Bank of China. Outstanding RMB loan grew by 14.3% in February year-on-year. The aggregate social financing was RMB1.35 trillion, also beating market consensus. China's M2, a broad measure of money supply, increased 12.5% […]

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China's CPI Increases 1.4% In February

China's consumer price index (CPI) increased 1.4% year-on-year in February, up by 0.6 percentage points from the previous month, beating market consensus, according to data released by China's National Bureau of Statistics. Producer price index (PPI) was below market consensus, declining 4.8% year-on-year in February, compared with January's 4.3% drop. The gauge has remained in […]

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China's Exports Surprise On The Upside In February

China's export increased 48.3% over a year earlier to US$169.2 billion in February, much higher than market consensus, according to data released by China's General Administration of Customs. Imports declined by 20.5% on a year-on-year basis in February to US$108.6 billion. This led to the record high trade surplus of US$60.6 billion for the month.

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China's Official PMI Remains Weak At 49.9 In February

China’s official purchasing managers index (PMI), the bellwether of large industrial firms, inched up to 49.9 in February, up by 0.1 percentage points over a month earlier, according to data released by China’s National Bureau of Statistics. The output sub-index fell by 0.3 percentage points to 51.4, affected by the weak activity during the Chinese […]

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China's New Loan Reaches RMB1.47T In January

China's new RMB loans stood at RMB1.47 trillion in January, beating market expectations of RMB1.35 trillion, and compares with RMB697 billion in December 2014, and RMB1.32 trillion in January, 2014, according to data released by the People’s Bank of China. Outstanding total RMB loan grew 13.9% year-on-year in January, compared with last month's 13.6% increase.

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China's CPI Increases 0.8% In January

China consumer price index (CPI) increased 0.8% year-on-year in January, down by 0.7 percentage points from the previous month, the lowest since November 2009, according to data released by China's National Bureau of Statistics. Producer price index (PPI) was below market consensus, declining 4.3% year-on-year in January, compared with December's 3.3% drop. The gauge has […]

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China's Exports Register Surprise Decline Of 3.2% In January

China's exports surprisingly declined by 3.2% in January 2015, compared with a growth of 9.9% in the prior month. Imports also dropped sharply by 19.7%, versus a 2.3% decline in the previous month, according to data released by China's General Administration of Customs. As imports continued to under-perform, China registered another record high monthly trade […]

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BUSINESS

Asia Pacific Hedge Funds' Total Assets Up 30% To Reach $145B

Asia Pacific Hedge Funds' Total Assets Up 30% To Reach $145B

The Asia Pacific hedge fund industry has reached US$145 billion in aggregate assets-under-management at the end of 2014, up 30% from US$112 billion a year ago. Hedge funds based in the region have also outperformed global peers, returning 11.91% on an annualized basis over the past three years, compared to 8.88% for global hedge funds, […]

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ANZ Expands RMB Cross-Border Financing Teams

ANZ Expands RMB Cross-Border Financing Teams

The Australia and New Zealand Banking Group Limited (ANZ) has made a number of senior appointments in its RMB banking and trading teams, in an effort to support growing volumes of RMB denominated cross-border financing activities, according to a company announcement. Lucy Chen has been recruited as global head of RMB transaction banking, a new […]

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Lifespan Of Private Equity Funds Stretches To 13.2 Years

Lifespan Of Private Equity Funds Stretches To 13.2 Years

The median lifespan of global private equity funds across all sectors and geographies has reached an unprecedented 13.2 years, up from 11.5 years in 2008, according to an analysis conducted by online private equity market place, Palico. Only some 12% of funds liquidated in 2014 were wound up by their tenth year, which is the […]

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Citi Appoints Catherine Cai As Head Of China Investment Banking

Citi Appoints Catherine Cai As Head Of China Investment Banking

Citi has appointed Catherine Cai as managing director, chairman and head of China investment banking, reporting to Mark Slaughter, head of corporate and investment banking for Citi in Asia Pacific, according to a company announcement. Catherine will oversee Citi’s China investment banking team, and continue the strong partnership between China investment banking and industry coverage, […]

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Mobile Technologies To Account For 4.8% Of China's GDP By 2020

Mobile Technologies To Account For 4.8% Of China's GDP By 2020

Mobile technologies account for 3.7% of China’s GDP, or US$365 billion. China’s mobile GDP, now the second largest in the world, is poised to grow to 4.8% of GDP by 2020 due to the global expansion of China’s manufacturers and its strong patent position in mobile technologies, according to a new report by the Boston […]

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Alibaba Group Acquires $383M Stake In Enlight Media

Alibaba Group Acquires $383M Stake In Enlight Media

Chinese e-commerce giant Alibaba Group Holding Ltd. has purchased a RMB2.4 billion (US$383 million) stake in Beijing-based television and film company Enlight Media Group, according to a securities filing. Enlight Media has issued 99 million new shares at RMB24.22 apiece to Hangzhou Ali Venture Capital Co., a financial arm of Alibaba Group, via a private […]

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China's Outbound Real Estate Investment Reaches $10B In 2014

China's Outbound Real Estate Investment Reaches $10B In 2014

Chinese outbound real estate investment increased 25% to reach US$10.1 billion in 2014, making it the number two largest source of such investment among all Asian countries following Singapore, according to a report by global real estate consultancy CBRE Group. For the region, outbound real estate investment had a record year, reaching US$40 billion, up […]

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Global Investors See Increasing Opportunity In Asian Hedge Funds

Global Investors See Increasing Opportunity In Asian Hedge Funds

Global investors see increasing opportunity in Asian hedge funds, with around 30% of respondents planning to increase investment in Asian managers over the next 12 months, up from 19% last year, according to Deutsche Bank's annual Alternative Investment Survey that gathered insights from 435 hedge fund investors with over US$1.8 trillion in assets under management. […]

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Compensation For Asian Private Equity Professionals Poised To Rise

Compensation For Asian Private Equity Professionals Poised To Rise

As regional and global private equity firms expand operations and dig deeper into major markets in the Asia Pacific region, competition for private equity investment professionals continues to rise and is likely to increase further throughout 2015, according to a survey conducted by global executive search firm Heidrick & Struggles International, Inc. Around 64% of […]

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OPINION

China's RMB Becoming A Major Reserve Currency?

China's RMB Becoming A Major Reserve Currency?

China's currency is likely to enter into the IMF's Special Drawing Right (SDR) scheme this year, and could have the potential weighting of approximately 13%, above the British pound and Japanese Yen, which could make the RMB the seventh largest reserve currency in the world, says a research report by BofA Merrill Lynch Global Research. […]

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Fitch: Macau's Gaming Revenue Is Likely To Decline 22% In 2015

Fitch: Macau's Gaming Revenue Is Likely To Decline 22% In 2015

Macau's gaming revenues is likely to decline 22% in 2015, due to Chinese government's anti-corruption crackdown, tighter credit availability, and the recently implemented smoking and visa restrictions, says a research report by Fitch Ratings. The rating agency cautions that there is some risk that the visa and smoking rules will become more restrictive, and that […]

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Jack Perkowski: Five Predictions For China In The Year Of The Goat

Jack Perkowski: Five Predictions For China In The Year Of The Goat

The author is Jack Perkowski, founder and managing partner at JFP Holdings The Shanghai Stock Exchange Index soared 59% last year, making Shanghai one of the world's best performing stock markets. Will Chinese stocks continue their impressive rise in 2015? Will the Year of the Goat become known as the Year of the Capital Markets? […]

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China's Large Banks Will Be Resilient In A Property Market Crash

China's Large Banks Will Be Resilient In A Property Market Crash

China's small to mid-size banks would be at greater risk in the extreme scenario that the Chinese property market crashes, given their geographic concentration and weaker customer credit profiles. Larger banks should prove more resilient, says a Standard & Poor's report. "If property prices drop 20% over the next year, the increase in gross non-performing […]

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A Preview Of China's 12th National People's Congress

A Preview Of China's 12th National People's Congress

The Third Session of the 12th National People's Congress (NPC), China's top legislature, will open on March 5th. During the meeting, Beijing could lower the GDP growth target for 2015 to around 7.0% from around 7.5% in 2014, says a report by BofA Merrill Lynch Global Research. The major reason is China's declining potential growth, […]

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Deflationary Pressures Prompt Another Rate Cut In China

Deflationary Pressures Prompt Another Rate Cut In China

The People's Bank of China's recent (PBoC) move to cut interest rate came as no surprise, following the particularly weak readings of January inflation and another expected soft reading for February. More monetary easing is still needed and could materialize during the second quarter, according to a research report by UBS AG. The PBoC cut […]

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China's Monetary Conditions Tightened In January, More Easing To Come

China's Monetary Conditions Tightened In January, More Easing To Come

China's January sequential total social financing growth slowed significantly, despite modestly faster growth in new local currency loans, reflecting an unfavorable monetary and fiscal policy stance despite the apparent desire to loosen policy, says a research report by Goldman Sachs/Gaohua senior China macro economist, Song Yu. New RMB loans stood at RMB1.47 trillion in January, […]

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Understanding China's Surging Capital Outflows

Understanding China's Surging Capital Outflows

China has seen significant capital outflows in the past few quarters, but the Chinese authorities are likely to maintain a stable RMB, with the Chinese currency likely appreciate at a modest pace of less than 3% by year-end while experiencing periodic bouts of two-way movements throughout 2015, says a research report by UBS AG. China's […]

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Five Reasons Why China Must Ease Monetary Policy Further

Five Reasons Why China Must Ease Monetary Policy Further

The People’s Bank of China (PBoC) has decided to cut banks' reserve requirement ratio (RRR) by 50 basis points, effective today. The move is necessary to arrest further economic slowdown, and it is just the beginning of a series of monetary easing actions down the road, says a research report by Nomura. The reports says […]

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