FUNDS

Chengwei Capital Invests $20M In China's XAircraft

Chengwei Capital Invests $20M In China's XAircraft

Guangzhou-based Chinese multi-rotor and drone maker XAircraft has received US$20 million series A financing from Shanghai-based venture capital firm Chengwei Capital, according to Chinese media reports.

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GIC Invests $104M In Taiwanese Music Streaming Firm KKBOX

Singapore's sovereign wealth fund GIC has invested US$104 million in Taiwanese music streaming service provider KKBOX, according to the two parties’ joint announcement.

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Hony Capital To Collect $528M From CSPC Pharma Sell-Down

Beijing-based Chinese private equity firm Hony Capital is to sell exit 650 million shares of Hong Kong-listed Chinese generic drugs maker CSPC Pharmaceutical Group Limited. for HK$6.30 apiece, in another exit from the company that will net Hony a total of HK$4.1 billion (US$528 million), according to CSPC’s official statement.

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CITIC PE Exits 10.26% Stake In Beijing Jialin Pharmaceutical

CITIC Private Equity is to exit from Beijing Jialin Pharmaceutical Co., Ltd. through a trade sale. It will sell its 10.26% stake to Yantai, Shandong province-based Chinese drug-maker Luye Pharma Group for RMB589 million (US$95.88 million), according to an announcement made by Luye.

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Fonterra To Acquire 20% Stake In PE-Backed Beingmate

Fonterra To Acquire 20% Stake In PE-Backed Beingmate

New Zealand dairy firm Fonterra Limited plans to acquire a 20% stake of Hangzhou-based infant formula manufacturer Beingmate, in an attempt to gain greater foothold in China's dairy industry that has been rocked by scandals in the past few years, according to a joint announcement.

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Carlyle Group In Talks To Acquire Assets Of China Vanke

Carlyle Group In Talks To Acquire Assets Of China Vanke

Washington, D.C.-based global private equity firm Carlyle Asia Investment Advisors Limited is in negotiation with one of the largest Chinese real estate developers, China Vanke Co., Ltd., to acquire some of its commercial properties through asset or share acquisitions, according to an official announcement.

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Matrix, Incapital Participate $10M Round In Itugo.Com

Hangzhou-based female fashion sharing and communication platform Itugo.com has received approximately US$10 million dollars new round of financing from Matrix Partners, Incapital and Cash Capital, according to Chinese media reports.

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MBK Partner To Exit From CNS In Trade Sale

Taiwanese conglomerate Ting Hsin International Group has agreed to acquire a majority stake in local cable TV operator China Network Systems Co. (CNS) from Asian private equity firm MBK Partners, according to media reports.

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KKR Invests $400M In Chicken Meat Producer Fujian Sunner

Global private equity giant KKR & Co. L.P. has agreed to invest around US$400 million for an 18% stake in Shenzhen-listed Chinese chicken meat producer Fujian Sunner Development Co. Ltd., according to a joint announcement.

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ECONOMY

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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China's GDP Beats Estimate, Up 7.5% In Q2

China's GDP growth expanded to 7.5% in the second quarter from 7.4% in the first quarter this year due to pro-growth fiscal policies and improving external demand, according to China's National Bureau of Statistics.

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China's Total Social Financing Increased To RMB1.97T In June

China's total social financing increased to RMB1.97 trillion in June from RMB1.40 trillion in May, higher than market expectations, according to data released by People’s Bank of China.

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China's June Export Expands 7.2%

China’s exports rose 7.2% year-on-year to US$186.8 billion in June, lower than market expectation, but up from the 7.0% growth recorded in the previous month, according to data released by China's General Administration of Customs.

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BUSINESS

Global Hedge Funds Saw Greater Capital Inflows From Private Investors

As global hedge funds attract capital from private and retail investors, capital from institutional investors including pension funds, foundations and endowments now represents 63% of total hedge fund assets, down from 65% at the end of 2013, according to a survey conducted by investment research firm Preqin.

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HKEX Completes First Round of Market Rehearsal For Stock Connect

HKEX Completes First Round of Market Rehearsal For Stock Connect

The Hong Kong Exchanges and Clearing Limited (HKEX) has completed the first round of market rehearsal for the much-expected Shanghai-Hong Kong Stock Connect pilot program smoothly during the past weekend, according to an announcement.

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BNP Paribas Investment Partners Appoints New HK And Japan CEOs

BNP Paribas Investment Partners Appoints New HK And Japan CEOs

BNP Paribas Investment Partners today announced the appointments of Tino Moorrees as CEO Hong Kong and Ryohei Shimazaki as CEO and president of BNP Paribas Investment Partners Japan Ltd., effective September 1 and June 25, respectively, according to a company announcement.

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Tesla, China Unicom To Build 400 Charging Stations In China

Tesla, China Unicom To Build 400 Charging Stations In China

Palo Alto, California-based U.S. electric car maker Tesla Motors Inc. has signed an agreement with China’s second-largest telecommunications company China United Network Communications Group Co., Ltd. to build 400 charging stations in 120 Chinese cities at China Unicom branch offices, according to media reports.

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Wanda Teams Up With Baidu, Tencent To Set Up Joint E-Commerce Firm

Wanda Teams Up With Baidu, Tencent To Set Up Joint E-Commerce Firm

China's Dalian Wanda Group has teamed up with Baidu, Inc. and Tencent Holdings Limited to establish a joint venture e-commerce company in Hong Kong with an initial investment of RMB5 billion (US$810 million), according to a joint announcement.

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Goldman, Warburg And Others To Acquire China Huarong Stake For $2.4B

China’s largest state-owned asset management firm China Huarong Asset Management Co., Ltd. has been approved by regulators to sell a 20.98% stake to a consortium of eight investor for RMB14.5 billion (US$2.4 billion).

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China's New Rules For Private Equity Aim For Self-Regulation

China's New Rules For Private Equity Aim For Self-Regulation

The China Securities Regulatory Commission (CSRC) has issued rules governing the domestic private equity industry, giving more space for industry self-regulation, according to an official announcement.

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S&P Appoints Matthew Bosrock As New Asia-Pacific Head

Standard & Poor’s Ratings Services has appointed Matthew Bosrock as executive managing director, head of Asia-Pacific (ex-Japan), succeeding Dominic Crawley, who returns to the U.K. to resume his role as global head of Standard & Poor’s Financial Services, sovereign and international public finance practices, says a company announcement.

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Manulife Asset Management Appoints Peter Warnes In Senior Role

Manulife Asset Management, the global asset management arm of Manulife Financial Corp., has appointed Peter Warnes as its head of portfolio solutions group international to expand its asset allocation investment capabilities, according to a company announcement.

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OPINION

China's New Budget Law Will Reduce Systemic Financial Risk

China's New Budget Law Will Reduce Systemic Financial Risk

China's newly-passed budget law amendment that allows local governments to issue bonds will help alleviate systematic risk for the country's financial system, says Wang Tao, head of China Economics Research at UBS AG, in a research report.

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China's Declining Data Will Prompt More Government Stimulus

China's Declining Data Will Prompt More Government Stimulus

China's weakening manufacturing economic indicators came out below market expectations, confirming the sluggishness of the economy and the softening momentum. But the Chinese government is likely to step up support to the economy in order to achieve its growth goals this year, says a report by BofA Merrill Lynch Global Research.

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Taiwan May Begin Yuan Fixings In Support Of RMB Internationalization

Taiwan May Begin Yuan Fixings In Support Of RMB Internationalization

The author is ANZ greater China chief economist Liu Li-Gang Taiwan is reportedly to embark local RMB fixings for interest rate and exchange rate in the interbank market, effective from September 1. The interest rate fixing will be called CNT TAIBOR Benchmark. The RMB exchange rate fixing is reportedly to be priced against U.S. dollar, […]

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China Fines For Foreign Automakers Raise Regulatory Risks

China Fines For Foreign Automakers Raise Regulatory Risks

Investigations by China's National Development and Reform Commission (NDRC) into anti-competitive behavior in the autos sector have raised regulatory uncertainty and risk for international car makers, says credit rating agency Fitch Ratings.

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Will A US Rate Hike Cause Massive Capital Outflows In HK?

Will A US Rate Hike Cause Massive Capital Outflows In HK?

The author is ANZ greater China chief economist Liu Li-Gang With the economy recovering steadily, it is now a market consensus that the U.S. Fed will likely raise interest rate in 2015. The Hong Kong government is worried that such a move will cause massive capital outflows and result in a "perfect storm", citing that […]

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Is China Ready For Its RMB To Become A Global Currency?

Is China Ready For Its RMB To Become A Global Currency?

Dr. Sukhdave Singh, deputy governor of the Central Bank of Malaysia gave the following speech on August 12 in Malaysia From where we stand today, the world is clearly ready for a global RMB. The question is whether China itself is ready.

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Despite Weak China Data, H-Shares Are Still Attractive

Despite Weak China Data, H-Shares Are Still Attractive

The author is China International Capital Corporation (CICC) analyst Wang Hanfeng The H-share market largely flattened last week, with the MSCI China Index gaining just 0.2%. Despite the improving overseas environment, last Thursday’s announcement of a surprisingly weak August HSBC PMI flash number once again raised questions over the sustainability of China’s recent growth recovery […]

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China's Property Sector Slump Will Continue Into 2015

China's Property Sector Slump Will Continue Into 2015

China's property sector is going through a structural turning point, and policy easing can only help stabilize but not turn around the downshift. The Chinese property sector will continue its slowdown into 2015, and weigh more heavily on the economy, according to a research report by UBS AG.

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China's Rebound Will Take Longer, And Be Softer

China's Rebound Will Take Longer, And Be Softer

China's economic recovery, widely expected during the second half of this year, may take longer to materialize and will require further policy support by the Chinese government, says a research report by Standard Chartered Bank.

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