FUNDS

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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China's Hareon Solar To Build Solar Panel Plants In India

Indian alternative energy investment fund Nereus Capital has agreed to partner with China’s solar panel manufacturer Hareon Solar Corporation to support Indian solar power projects in the next two years, according to Hareon’s official announcement.

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China Minsheng Investment Launches With $8B Investment Vehicle

China's first national-level private investment fund, the RMB50 billion (US$8 billion) China Minsheng Investment, was officially launched last week to take advantage of the Chinese government's effort to open more sectors to private investment, according to a public announcement.

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Alibaba Leads Series A In Wi-Fi Marketing Firm WiTown

Hangzhou-based Chinese intelligent Wi-Fi marketing operator WiTown has received an undisclosed amount of series A financing from Alibaba Group, according to Chinese media reports.

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Morningside Leads $20M Series B In Meilapp.Com

Shenzhen-based Chinese beauty and cosmetics platform Meilapp.com has completed US$20 million series B financing led by Morningside Ventures, according to Chinese media reports.

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ECONOMY

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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China's CPI Climbs 2.3% In June

China’s June consumer price index (CPI) recorded a 2.3% increase year-on-year, which was lower than last month’s 2.5%, and also slightly lower than market expectations of 2.4%, according to data released by the National Bureau of Statistics.

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BUSINESS

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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Fosun Acquires 20% Of Insurance Firm Ironshore

Fosun Acquires 20% Of Insurance Firm Ironshore

Hong Kong-listed Chinese conglomerate Fosun International Limited has entered into a definitive agreement to acquire 20% of global insurer Ironshore Inc. on a fully diluted basis, according to an announcement made by Fosun.

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CITIC Securities Backs LeTV.Com In Strategic Partnership

CITIC Securities Co. Ltd. is planning to invested RMB500 million (US$81.3 million) in Beijing-based Chinese online video platform LeTV.com, as part of a broad strategic partnership between the two companies, according to a securities filing LeTV.com filed with the Shenzhen Stock Exchange.

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Private Equity Returned Record $568B Back To LPs In 2013

Private equity funds returned US$568 billion in capital back to their institutional investor backers globally last year, up significantly from US$381 billion in 2012. It is also the highest annual total capital return ever recorded, according to data released by private equity research Preqin.

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The Shanghai-HK Stock Connect Program In One Infographic

The Shanghai-HK Stock Connect Program In One Infographic

The Shanghai-Hong Kong Stock Connect pilot program, announced in April, marks an important step in China's financial market reform. It also provides Chinese and overseas investors opportunities for investment and trading.

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Greater China-Focused Hedge Funds Up 3.82% In July

Greater China-focused hedge funds were the star performers during July, returning 3.82% following an overall disappointing start to the year. In contrast, Asian ex-Japan hedge funds gained 2.63% and global hedge funds saw a negative return of 0.12% last month, according to data released by hedge fund tracker Eurekahedge.

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OPINION

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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Will China's Capital Inflows See A U-Shaped Recovery?

Will China's Capital Inflows See A U-Shaped Recovery?

Capital inflows into China will make a U-shaped recovery during the second half of this year, forecasts BofA Merrill Lynch in a research report.

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Weaker Mainland Tourism Spending Drags Down Hong Kong Economy

Weaker Mainland Tourism Spending Drags Down Hong Kong Economy

As the Hong Kong government revises down its annual GDP growth range to 2% to 3% from its original forecast of 3% to 4% for 2014, BofA Merrill Lynch is also downgrading its growth forecast for the special administrative region to 2.3% from 2.6% this year, much lower than market consensus of 3.2%, according to […]

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Sina's Portal Growth Rejuvenation Will Take Time

Sina's Portal Growth Rejuvenation Will Take Time

The author is founder and CEO of T.H. Capital Tian X. Hou Sina Corp. reported second quarter results that were better than consensus expectations driven by Sina's Weibo growth, but third quarter guidance was weaker than expected.

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China's Property Market Will Get Worse Before Getting Better

China's Property Market Will Get Worse Before Getting Better

The author is Standard Chartered China's macro research team China’s housing market has been identified by some as the biggest risk to the global economy. There is unfortunately little independent data – apart from apartment sales and new project starts – to help us assess what is really going on, or what developers plan to […]

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