FUNDS

CDH Makes In-Kind Distribution Of WH Group Shares To LPs

CDH Makes In-Kind Distribution Of WH Group Shares To LPs

Beijing-based alternative investment company CDH Investments, the largest financial shareholder with approximately 20% stake in the newly-listed Chinese pork giant WH Group, is paying WH Group shares worth a total of US$1.6 billion to its limited partners (LPs), according to media reports. WH Group just completed a Hong Kong IPO in July, selling 2.567 billion […]

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Baring Private Equity Secures $50M From TCDRS For Sixth Fund

Baring Private Equity Secures $50M From TCDRS For Sixth Fund

Texas County & District Retirement System (TCDRS), with US$23 billion net assets, has committed US$50 million to Asian private equity firm Baring Private Equity Asia’s sixth pan-regional fund, according to media reports. Just last week, the fund has reportedly reached a US$3.2 billion first close.

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Tiantu Capital Invests $16.3M In Cosmetics Retailer HuaYin

Tiantu Capital Invests $16.3M In Cosmetics Retailer HuaYin

Beijing-based online cosmetics retailer HuaYin has received series A financing from Tiantu Capital, according to Chinese media reports. The round reportedly amounted to RMB100 million (US$16.3 million), and Tiantu is the sole investor.

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EDaiJia.Cn Receives $25M Investment Led By 58.Com

EDaiJia.Cn Receives $25M Investment Led By 58.Com

Beijing-based online designated driver reservation services provider eDaiJia.cn has received US$25 million new round of financing led by New York Stock Exchange-listed Chinese Craigslist-like platform 58.com Inc., according to eDaiJia.cn's official Weibo account. Existing investors Matrix Partners and Lightspeed Venture Partners also participated. The two invested US$5 million, while 58.com invested US$20 million.

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Wanda Cinema Files For $330M Shenzhen IPO

Wanda Cinema Files For $330M Shenzhen IPO

Beijing-based Wanda Cinema Line Co., Ltd. has filed for an IPO on the Shenzhen Stock Exchange to raise an estimated RMB2 billion (US$330 million) by issuing 60 million shares, according to a securities filing. The move comes after the company's earlier attempt for a float was denied in July by Chinese regulator because of insufficient […]

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Qiming-Backed BBI Life Sciences Files For HK IPO

Qiming-Backed BBI Life Sciences Files For HK IPO

Shanghai-based life sciences research product maker BBI Life Sciences Corporation has filed for an IPO in Hong Kong, without specifying the size or the timing of the initial offering, according to a regulatory filing. In 2010, Qiming Venture Partners invested RMB18 million (US$2.94 million) and RMB24 million (US$3.92 million) into the registered capital and capital […]

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Fosun Capital Leads Investment In Beijing ZJS Express

Fosun Capital Leads Investment In Beijing ZJS Express

Private courier service provider Beijing ZJS Express Co., Ltd. has received an undisclosed investment from an investor consortium led by Fosun Capital Group, according to Chinese media reports. China Merchants Securities, Haitong Securities, Hongtai Capital and Zhong Xinjian Merchants Equity Investment Fund also participated. After the completion of the deal, the five investors will hold […]

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Shenzhen Co-Win Venture Capital Holds $75M First Close For New Fund

Shenzhen Co-Win Venture Capital Holds $75M First Close For New Fund

Chinese venture firm Shenzhen Co-Win Venture Capital Investments Limited has held a US$75 million first close for its first U.S. dollar fund, according to Chinese media reports. The fund is targeting to raise a total of US$150 million. It has secured commitments from institutional investors including Singapore's Oversea-Chinese Banking Corporation Limited. Representatives at Shenzhen Co-Win […]

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Bain Capital Acquires 80% Of Lionbridge Financial Leasing

Bain Capital Acquires 80% Of Lionbridge Financial Leasing

Boston-based private equity firm Bain Capital has acquired an 80% stake of Chinese equipment leasing firm Lionbridge Financial Leasing (China) Co., Ltd., according to a joint announcement. Bain Capital, with approximately US$80 billion in assets under management, reportedly paid RMB1 billion (US$164 million) for the stake of Beijing-based Lionbridge.

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ECONOMY

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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China's Official PMI Remains Steady At 51.1 In September

China's official purchasing manufacturing managers' index (PMI) remains constant at 51.1 in September over the previous month, according to data released by China’s National Bureau of Statistics.

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China's HSBC Flash PMI Slightly Up To 50.5 In Sep

The HSBC flash China Manufacturing Index (PMI) came in at 50.5 in September, slightly up from 50.2 in August. The reading is a two-month high. The flash China Manufacturing Output Index was 51.8 in September, unchanged from August’s two-month low.

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China's New Loan Reaches RMB703B In August

Data for new RMB loan in August turned in line with expectations, reaching RMB703 billion, though RMB10 billion less over one year earlier, according to data released by the People’s Bank of China.

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China's CPI Moderates To A 2% Increase In August

China consumer price index (CPI) increased 2.0% year-on-year in August, compared with market consensus of 2.2% and July's 2.3% hike, according to data released by China's National Bureau of Statistics.

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China's August Exports Slow Down To 9.4%

China’s exports rose 9.4% in August over a year earlier to US$208.5 billion, slightly above market expectation, down from a growth rate of 14.5% in the prior month, according to data released by China's General Administration of Customs.

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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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BUSINESS

Qatar Investment Authority Injects $620M In Lifestyle International

Qatar Investment Authority Injects $620M In Lifestyle International

Hong Kong-based department store operator Lifestyle International Holdings Limited says that a subsidiary of the Qatar Investment Authority has agreed to acquire a minority stake of the company for a total price of HK$4.8 billion (US$620 million), according to a company announcement. Qatar Investment Authority will acquire over 324 million shares of the Hong Kong-listed […]

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UBS China Opens Beijing HuaMao Sub-Branch

UBS (China) Limited, UBS AG’s locally-incorporated wholly foreign-owned bank in China, today opened its Beijing Huamao bub-branch. It is UBS's first ground-floor presence in Asia Pacific, according to a company announcement. "China is an important market for UBS and offers many business opportunities. It is the world's second largest and Asia Pacific's largest wealth management […]

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Asian Private Real Estate Funds Will See Expiration Peak Next Year

Asian Private Real Estate Funds Will See Expiration Peak Next Year

About 84 real estate private investment funds in the Asia Pacific will reach the end of their fund life between 2013 and 2016, with fund expiration peaking between 2015 to 2016, according to a study by global property consultancy CBRE Group Inc. CBRE's predication are based on the typical fund life of eight years. In […]

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Levin Zhu Resigns As CICC's CEO

Levin Zhu Resigns As CICC's CEO

China International Capital Corporation (CICC) has announced that Levin Zhu, the son of China's former premier Zhu Rongji, has resigned as CEO and chairman of the management committee from the Beijing-based firm, according to a company announcement. The board has appointed Shoukang Lin as CICC’s acting CEO and chairman of the management committee. Shoukang Lin […]

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Anbang Insurance To Acquire Belgian Insurer Fidea From J.C. Flowers

Anbang Insurance To Acquire Belgian Insurer Fidea From J.C. Flowers

Beijing-based Chinese insurance firm Anbang Insurance Group Co., Ltd. has agreed to acquire Belgian insurer Fidea from U.S. private equity firm J.C. Flowers & Co. for an undisclosed amount, according to a company announcement. The news came one week after Anbang announced last week that it is buying the Waldorf Astoria New York hotel from […]

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CICC Appoints Liang Hong As Chief Economist

China International Capital Corporation (CICC) has appointed Dr. Liang Hong, currently head of its research department, as the chief economist of CICC, according to a company announcement. Liang joined CICC in 2008, with many years of experience in macroeconomic research. She joined CICC from Goldman Sachs (Asia) L.L.C., where she served as the managing director, […]

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China Tightens Control Over Local Government Debt

China Tightens Control Over Local Government Debt

China's State Council announced yesterday a series of strict rules on how its local governments can issue and manage debt in order to control financial risks in the sector, according to an official announcement. The latest policy initiatives came after China changed its budget law a month ago allowing local governments to issue bonds directly, […]

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Alibaba To Invest $457M In Beijing Shiji Information Technology

Alibaba To Invest $457M In Beijing Shiji Information Technology

Hangzhou-based Chinese e-commerce giant Alibaba Group Holding Ltd. has agreed to acquire a 15% stake in Shenzhen-listed Chinese hospitality technology provider Beijing Shiji Information Technology Co., Ltd. for RMB2.81 billion ($457 million), according to a regulatory filing to the Shenzhen Stock Exchange. This is the first major investment announced by Alibaba after its record-breaking US$25 […]

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Intel To Invest $1.5B In Chinese Mobile Chip Maker Tsinghua Unigroup

Intel To Invest $1.5B In Chinese Mobile Chip Maker Tsinghua Unigroup

U.S. chip maker Intel Corporation has agreed to invest up to RMB9 billion (US$1.5 billion) for approximately 20% of the holding company under Tsinghua Unigroup, a mobile chip maker and a subsidiary funded by China's Tsinghua University, according to a joint announcement. As part of the deal, the two parties will expand the product offerings […]

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OPINION

Reading China's Property Sector In Today's Two-Tier Interest Rate World

Reading China's Property Sector In Today's Two-Tier Interest Rate World

In today's two-tier interest rate world, the Chinese property sector looks particularly fragile, says a research report written by Mark Tinker, head of AXA Framlington Asia, a specialist investment management firm within the AXA Investment Managers Group. Currently, of the US$37 trillion in global government bond markets, 60% of them are yielding less than 1%, […]

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China Business Sentiment Hits Eight Month Low In October

China Business Sentiment Hits Eight Month Low In October

Business confidence slipped for the second consecutive month in October, falling to an eight month low. The MNI China Business Indicator fell to 51.7 in October, a further deterioration from September’s sharp decline to 52.2, according to latest data jointly released by MNI Indicators and Deutsche Börse Group. While the indicator remains above the breakeven […]

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What To Expect From The 4th Plenum Of China's Ruling Party?

What To Expect From The 4th Plenum Of China's Ruling Party?

The Communist Party of China (CPC) will hold its 4th Plenum on October 20 to 23, and is likely to introduce a series of reform measures that will have significant impact on the Chinese economy and society in the coming years, says a BofA Merrill Lynch Global Research report. The 4th Plenum is supposed to […]

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China's Foreign Reserves Drop Amid Recovering Credit Condition

China's Foreign Reserves Drop Amid Recovering Credit Condition

China's freshly released credit data shows that new loans have recovered to the normal level due to the ongoing targeted easing policies, but the de-leveraging of shadow banking activity continues, says a research report by ANZ's chief China economist Liu Li-Gang. China’s new RMB loans picked up to RMB857.2 billion in September, above market expectations. […]

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Energy, Telecommunication Shares Will Benefit As China Pushes For Reform

Energy, Telecommunication Shares Will Benefit As China Pushes For Reform

China’s reforms will be the key factor to watch for the country’s equity markets over the medium term. Chinese markets still offer many good opportunities, and those will only improve as these reforms begin to pay off, writes Helen Zhu, head of China Equities at BlackRock, Inc., in a report. Two key upcoming meetings will […]

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With Inflation At Four-Year Low, Should China Worry About Deflation?

With Inflation At Four-Year Low, Should China Worry About Deflation?

The author is Liu Li-Gang, chief economist of Greater China at ANZ China's consumer price index (CPI) inflation slowed sharply to 1.6% year-on-year in September, the lowest level since January 2010, compared with 2.0% in the prior month. On a monthly basis, CPI rose 0.5%, lower than 0.8% recorded last September. The sharp deceleration of […]

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Dim Sum Bond Market Set For Another Record Year

Dim Sum Bond Market Set For Another Record Year

Despite a weak third quarter issuance of dim sum bonds, a type of bonds issued outside of China but denominated in Chinese RMB, Fitch Ratings still expects another record breaking year in 2014, says a research report issued by the rating agency. Total dim sum bond issuance in U.S. dollar terms fell by 65% to […]

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Can Improving Trade Lift China’s Q3 Growth?

Can Improving Trade Lift China’s Q3 Growth?

The author is Liu Li-Gang, ANZ's chief economist for Greater China China’s export growth picked up to 15.3% year-on-year in September, from 9.4% in the prior month, better than market expectations, reflecting improving demand from advanced economies, especially the U.S. Shipment to the U.S. and the E.U. grew 15.3% and 14.9% in September, compared with […]

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China's New Mortgage Policy May Spur Speculation

China's New Mortgage Policy May Spur Speculation

The move by the People's Bank of China (PBoC) to loosen mortgage rules will help stimulate demand from home upgrades in the current slowdown, but it will also facilitate speculation, says a report released by Fitch Ratings. If this policy initiative develops into another cycle of excessive investment and speculation, it may slow down the […]

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