FUNDS

North Asia Head Of Emerald Hill Plans New China Fund-Of-Funds

North Asia Head Of Emerald Hill Plans New China Fund-Of-Funds

Tommy Yip, partner and head of North Asia at Hong Kong-based fund-of-funds (FoF) manager Emerald Hill Capital Partners, has resigned from his position and is planning to start a China-focused FoF, according to media reports. Yip is to partner with Low Kah-Fai, executive director of Asia-focused Eagle Asia Partners, in launching the new vehicle. No […]

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SummitView Capital Launches $1.7B Semiconductor Fund

SummitView Capital Launches $1.7B Semiconductor Fund

Technology-focused venture and private equity firm SummitView Capital has launched a RMB10 billion (US$1.7 billion) fund in collaboration with the Shanghai government to invest in the semiconductor sector, according to a company announcement. The fund will acquire global semiconductor design companies and help them expand their market share in China by increasing sales, marketing activities […]

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Fosun, Nanjing Sinolife To Acquire New Zealand's Good Health For $18M

Fosun, Nanjing Sinolife To Acquire New Zealand's Good Health For $18M

Chinese conglomerate Fosun International has joined forces with Hong Kong-listed Chinese nutritional supplements and health food products firm Nanjing Sinolife United Co., Ltd. to acquire New Zealand's Good Health Products Limited for NZ$23.37 million (US$18 million) in cash, according to a regulatory filing. Fosun and Nanjing Sinolife established a joint venture, owned 40% and 60% […]

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Hillhouse, DST And Capital Today To Exit In JD.Com's $500M Follow-On Offering

Hillhouse, DST And Capital Today To Exit In JD.Com's $500M Follow-On Offering

Six months after completing a US$1.78 billion IPO on the NASDAQ, Beijing-headquartered Chinese e-commerce operator JD.com, Inc. is returning to the U.S. capital market with a plan to raise as much as US$500 million in a follow-on offering, according to a securities filing. JD.com is not selling any new shares in the proposed offering. The […]

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Fidelity Growth Partners To Invest $10M In China's Eye Bright Medical

Fidelity Growth Partners To Invest $10M In China's Eye Bright Medical

Fidelity Growth Partners, the venture capital and private equity arm of Fidelity Worldwide Investment, says it has agreed to invest RMB62.5 million (US$10 million) in Beijing-based ophthalmology products firm Eye Bright Medical Technology Co., Ltd., according to Chinese media reports. Two entities under Fidelity Growth Partners, Fidelity Growth Partners Asia and Fidelity Biosciences, will make […]

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Hopu To Inject $52M In Australia's Paladin Energy

Hopu To Inject $52M In Australia's Paladin Energy

Western Australia-based uranium production company Paladin Energy Ltd. says it plans to raise a total of US$177 million in a private placement deal, including a capital injection of US$52 million from a unit of Chinese private equity firm Hopu Investment Management Co., according to a company announcement. Hopu Clean Energy (Singapore) Pte. Ltd. will subscribe […]

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Shanghai CBN, Ant Financial To Invest In Hundsun For Financial Data Play

Shanghai CBN, Ant Financial To Invest In Hundsun For Financial Data Play

Hangzhou-based Chinese financial software company Hundsun Technologies Inc. says it has signed an agreement with three strategic investors to inject RMB390 million (US$63.5 million) into one of its subsidiaries, with the hope to develop it into a leading financial data services firm in China, according to a securities filing. The three investors include financial media […]

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GIC, Och-Ziff Capital Backs CGN Power's $3B HK IPO

GIC, Och-Ziff Capital Backs CGN Power's $3B HK IPO

Shenzhen-based Chinese nuclear power plant operator CGN Power Co. Ltd., the largest in the country, is raising up to US$3.16 billion in an IPO in Hong Kong today, according to media reports. CGN Power initially filed with the Hong Kong Stock Exchange in August. It is currently taking orders from investors, and plans to issue […]

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Hebei Provincial Industry Fund Launches With $3.3B Target

Hebei Provincial Industry Fund Launches With $3.3B Target

Hebei Coastal Industry Investment fund, jointly established by Hebei Construction & Investment Group Co., Ltd. and a number of private Chinese enterprises, has been launched officially with a fundraising target of RMB20 billion (US$3.3 billion), according to Chinese media reports. Approved by China's National Development and Reform Commission, the fund has obtained business license to […]

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ECONOMY

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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China's Official PMI Drops To 50.8 In October

China's official purchasing manufacturing managers' index (PMI) declined to a five-month low in October to 50.8, below market expectations of 51.2, according to data released by China’s National Bureau of Statistics.

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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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BUSINESS

Alibaba To Push E-Commerce Into China's West

Alibaba To Push E-Commerce Into China's West

Chinese e-commerce giant Alibaba Group Holdings Limited plans to spend the next five to ten years to expand e-commerce amongst small and medium businesses in China’s western provinces, says Jack Ma, the company’s founder and executive chairman in a company announcement. The move comes after Alibaba announced last month that it would invest US$1.6 billion […]

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Despite Slowdown, Housing Prices In Chinese Cities Grew 223% In Eight Years

Despite Slowdown, Housing Prices In Chinese Cities Grew 223% In Eight Years

Despite recent property market deterioration, new housing prices in China's eight major cities' central districts grew at 14.79% compound annual growth rate during the past eight years, according to the findings of a new report jointly released by the Peking University-Lincoln Institute Center for Urban Development and Land Policy and the Hang Lung Center for […]

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China To Offer Policy Support As Macau's Gaming Sector Declines

China To Offer Policy Support As Macau's Gaming Sector Declines

Chinese President Xi Jinping will bring a "gift basket" during his planned visit to Macau next month, which may be the beginning of a series of policy support initiatives that Beijing is likely to offer to the gaming center suffering from declining gaming revenues, says a research report by Nomura Holdings. The Lotus Bridge check […]

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Alibaba Prices Record $8B US Dollar Bond Offering

Alibaba Prices Record $8B US Dollar Bond Offering

After completing the world's largest IPO in September, Alibaba Group Holding Limited priced its debut U.S. dollar-denominated bond offering of US$8 billion today, becoming the largest Asia Pacific bond issuance on record in G3 currencies that include the U.S. dollar, Euro and Japanese Yen, according to a company announcement. The issuance pushes up China's G3 […]

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Venture Capital Industry Continues To See Performance Revival

Venture Capital Industry Continues To See Performance Revival

During the three-years period until March 2014, venture capital funds globally have produced average returns of 12.7%, a significant improvement over the lackluster returns seen during the prior decade following the dot-com crash, according to figures released by data tracker Preqin. The second quarter of 2014 set a record in terms of capital invested in […]

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Asia Ex-Japan Hedge Funds Up 7.44% Until October

Asia Ex-Japan Hedge Funds Up 7.44% Until October

Asia ex-Japan focused hedge funds are up 7.44% year-to-date until October, outperforming the MSCI Asia ex Japan Index by almost three percentage points, and also beating global hedge funds' performance of up 3.45% during the same period, according to data tracker Eurekahedge. Asia ex-Japan hedge funds have also grown their asset base by US$11.2 billion […]

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Jack Ma, Tencent Lead $588M Investment In Huayi Brothers

Jack Ma, Tencent Lead $588M Investment In Huayi Brothers

Shenzhen-listed movie, television and music production firm Huayi Brothers Media Corp. plans to raise RMB3.6 billion (US$588 million) by issuing 145 million shares at RMB24.83 per share to four Chinese institutions in a private placement deal, according to a securities filing. Hangzhou Ali Venture Investment Co., Ltd., an entity 80% controlled by Alibaba Group Holdings' […]

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Cathay Financial To Acquire US Investment Firm Conning For $240M

Cathay Financial To Acquire US Investment Firm Conning For $240M

Cathay Financial Holding Co., Ltd., Taiwan's largest financial holding company, says that its board has approved the acquisition of U.S. investment management company Conning Holdings Corp. for up to US$240 million, according to a joint announcement. The deal is part of Cathay's strategic drive to build a full-service financial platform with businesses in asset management, […]

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Blackstone, NWI To Jointly Launch Emerging Markets Solution Provider

Blackstone, NWI To Jointly Launch Emerging Markets Solution Provider

Blackstone Alternative Asset Management, Blackstone Group’s hedge fund solutions unit, has partnered with New York-based global macro hedge fund NWI Management, L.P. to jointly launch an asset manager that will provide solutions for investors seeking emerging markets fixed income investments, according to a joint announcement. NWI is contributing investment and trading capabilities for the new […]

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OPINION

China's Property Sector To Drag Country's Economy To 6.5% In 2016

China's Property Sector To Drag Country's Economy To 6.5% In 2016

China's ongoing property slowdown is likely to drag real GDP growth lower to 6.8% in 2015 and 6.5% in 2016, despite further policy support and a U.S.-led export recovery, says a research report by UBS AG. China's housing starts may fall by another 10% in 2015 as the sector digests inventory, which will negatively impact […]

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China's Rate Cut May Produce Only Short-Term Market Rebound

China's Rate Cut May Produce Only Short-Term Market Rebound

China's decision to cut interest rate last Friday after market close will only have short-term sentiment boost to the market, and its effect will last no more than a few days, says a research report by BofA Merrill Lynch Global Research. The timing of an interest rate cut is earlier than anticipated. It is likely […]

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Poor Returns To Limit China REITs Despite Easing Rules

Poor Returns To Limit China REITs Despite Easing Rules

The market for Chinese Real Estate Investment Trusts (REITs) is unlikely to develop significantly in the short to medium-term, even if regulations are loosened, says a Fitch Ratings report. This is because many of China's investment properties are of poor quality with low rental yields of less than 4%, which would be offset by high […]

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China Cuts Benchmark Interest Rates To Support Growth

China Cuts Benchmark Interest Rates To Support Growth

China's central bank announced a cut to the one-year benchmark lending rate by 40 basis points, taking it down to 5.6%, as well as a cut to the one-year benchmark deposit rate by 25 basis points to 2.75% today after market closing. The People's Bank of China (PBoC) also raised China's deposit rate ceiling from […]

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Busy IPOs Drain Liquidity, China To Ease With Short-Term Tools

Busy IPOs Drain Liquidity, China To Ease With Short-Term Tools

In the face of tightened liquidity conditions, China’s central bank will likely conduct some short-term liquidity injection in order to ease the situation, as the State Council vowed to lower the cost of funds for the real economy this week, writes Liu Li-Gang, chief China economist at ANZ Banking Group Ltd. China’s onshore market liquidity […]

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China Unveils Ten New Measures To Lower Financing Costs

China Unveils Ten New Measures To Lower Financing Costs

China's State Council announced another ten measures to tackle the problem of high financing costs after its regular Wednesday meeting yesterday. While these measures will help ease the problem, more major easing policies are needed to support the country's growth, says a research report by Nomura Holdings, Inc. Some of the more important measures include […]

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Macau's Gaming Weakness To Persist Through 2015

Macau's Gaming Weakness To Persist Through 2015

The persistent weakness in the VIP business in Macau means its gaming revenue growth may stay flat for 2014, and may decline during 2015, estimates Fitch Ratings. The weakness may persist through the first half of 2015, until Galaxy Entertainment and Melco Crown open the Galaxy Macau expansion and Studio City, respectively, and when VIP […]

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Why China's Economic Winter Has Just Begun?

Why China's Economic Winter Has Just Begun?

China's prolonged economic weakness has begun to affect the labor market, which has seen rising layoffs and companies' plans to freeze wages in 2015. Given Beijing's low tolerance for a deteriorating labor market, it may cut benchmark deposit rate by year-end to boost growth, says a research report by Standard Chartered. China’s economic downturn has […]

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Stock Connect's First Day Is Positive For Long Offshore RMB Positions

Stock Connect's First Day Is Positive For Long Offshore RMB Positions

The fact that northbound quota for the Shanghai-Hong Kong Stock Connect program was filled in the early afternoon on the first day of trading is net positive for investors' long RMB positions, says a research report by Nomura Global Market Research. The pilot platform was officially launched on Monday. Northbound trading from Hong Kong to […]

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