FUNDS

Hillhouse Joins $29M Financing Round In Hector Beverages

Hillhouse Joins $29M Financing Round In Hector Beverages

Indian beverage maker Hector Beverages Pvt Ltd has raised US$29 million in its series C financing round led by China-focused investment firm Hillhouse Capital and Belgian investment holding company Sofina, according to media reports. Existing investors Sequoia Capital also participated in the deal, which values the company at approximately US$100 million.

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Diandian Yangche Completes $60M Series C Round

Diandian Yangche Completes $60M Series C Round

Hangzhou-based automobile service mobile app Diandian Yangche has completed US$60 million series C financing from undisclosed investors, according to the company's Weibo account. At the same time, the company says it has launched auto insurance business. Officially launched by Hangzhou Xiaoka Technology Co., Ltd. in June 2014, Diandian Yangche, previously named Yangche Diandian, completed three […]

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Tiantian.Com Completes Series B Financing Round

Tiantian.Com Completes Series B Financing Round

Beijing-based cosmetics e-commerce firm Tiantian.com has completed an undisclosed series B round of financing from Michael Zhang, founding partner of Linear Venture, and Chinese actor Chen Kun, according to Chinese media reports. Founded in 1999, Tiantian.com focuses on one-hour flash sales of cosmetics products including facial masks and skin care via its online platforms.

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Wanda Leads $967M Financing Round In Tongcheng

Wanda Leads $967M Financing Round In Tongcheng

Suzhou-based online travel platform Tongcheng Network Technology Co., Ltd. has received RMB6 billion (US$967 million) new round of financing led by Dalian Wanda Group, according to an announcement posted on the company's Weibo account. CITIC Capital and existing investor Tencent Holdings Limited also participated. Tongcheng, the operator of LY.com, was reportedly seeking an A-share market […]

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Renren Leads $50M Series B Round In Jinfuzi

Renren Leads $50M Series B Round In Jinfuzi

Chinese online wealth management firm Shenzhen Jinfuzi Network Technology Co., Ltd. has completed US$50 million series B round of financing led by New York Stock Exchange-listed Chinese social networking firm Renren Inc., according to an announcement posted on the company's Weibo account. Existing investor Sequoia Capital also participated.

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SF Express, Oriza Lead $80M Series A In 100msh

SF Express, Oriza Lead $80M Series A In 100msh

Shenzhen-based free business wifi provider 100msh has completed US$80 million series A round of financing from SF Express Co., Ltd. and Oriza Holdings, according to Chinese media reports. SF Express and 100msh plan to initiate a strategic partnership to help further develop SF Express' online e-commerce business, says the reports.

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CDH-Backed Dali Foods Seeks Hong Kong IPO

CDH-Backed Dali Foods Seeks Hong Kong IPO

CDH Investments-backed Chinese snack food maker Fujian Dali Foods Group Co. Ltd. is planning to raise as much as US$1.5 billion via an initial public offering in Hong Kong, according to media reports. According to a securities filing submitted to the Hong Kong Stock Exchange, CDH Investments acquired a 1% stake of the Quanzhou city, […]

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Blackstone Appoints Zhang Liping As Greater China Chairman

Blackstone Appoints Zhang Liping As Greater China Chairman

Global private equity giant the Blackstone Group L.P. has appointed Zhang Liping as a senior managing director and chairman for Greater China, according to a company announcement. Based in Hong Kong, Zhang will advise and provide guidance to firm management and its regional business units as the firm continues to expand its presence in the […]

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JD.Com, Tencent Lead Series D Round In Mmb.cn

JD.Com, Tencent Lead Series D Round In Mmb.cn

Wuxi city, Jiangsu province-based mobile e-commerce platform Mmb.cn has completed an undisclosed series D round of financing from JD.com Inc. and Tencent Holdings Limited, according to Chinese media reports. Existing investors Sequoia Capital and other undisclosed investors also participated.

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ECONOMY

China's Official PMI Remains Steady At 50.2 In June

China’s official manufacturing purchasing managers index (PMI), the bellwether of large industrial firms, remained unchanged at 50.2 in June. In the meantime, HSBC China flash PMI edged up to 49.6 in June from 49.2 in the prior month. "Real activity indicators remained sluggish in April and May, and the electricity generation dropped again in early […]

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China's HSBC Flash PMI Improves To 49.6 In June

China's HSBC flash manufacturing purchasing managers index (PMI) improved to 49.6 in June, up from a final reading of 49.2 in May and above market consensus of 49.5. "While we still need hard activity data such as industrial production to get a firmer view of activity growth, we believe sequential growth in June has likely […]

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China's New Loans, M2 Pick Up In May

China's new RMB loans picked up to RMB901 billion in May, up from RMB708 billion in the prior month, and higher than market expectation of RMB850 billion, according to data released by the People’s Bank of China. Total social financing aggregate, a broad measure of liquidity in the economy, came in at RMB1.22 trillion, up […]

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China's CPI Eases To 1.2% In May

China's consumer price index (CPI) eased to 1.2% year-on-year in May, compared with 1.5% in the prior month, as food prices declined in the month, according to data released by China's National Bureau of Statistics. On a monthly basis, the CPI dropped by 0.2%, indicating that domestic demand remains lukewarm. Producer price index (PPI) inflation […]

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China's Exports Contract 2.8%, Imports Down 18.1% In May

China's exports declined by 2.8% year-on-year to RMB1.17 trillion in May, up from a contraction of 6.4% in April, according to data published by the General Administration of Customs. Imports fell by sharply by 18.1% to RMB803 billion in May, compared with a decline of 16.1% in the prior month, reflecting that the domestic demand […]

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China's Official PMI Improves To 50.2 In May

China’s manufacturing purchasing managers index (PMI), the bellwether of large industrial firms, picked up modestly to 50.2 in May, from 50.1 in the prior month. In the meantime, the HSBC China flash PMI also edged up to 49.1 in May from 48.9 in April. "The improvement of both PMIs is due to the recent pro-growth […]

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China's HSBC Flash PMI Improves To 49.1 In May

China's HSBC flash manufacturing purchasing managers index (PMI) improved to 49.1 in May, up from a final reading of 48.9 in April but slightly below market expectations of 49.3. "While we still need to wait for hard activity data to get a firmer view of activity growth, the still soft PMI reading highlights the difficulties […]

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China's New Loans Miss Forecasts At RMB708B In April

China's new RMB loans was recorded at RMB708 billion in April, less than market consensus of RMB903 billion and compares to RMB775 billion a year ago, according to data released by the People’s Bank of China. Total social financing aggregate came in at RMB1.05 trillion in April, lower than market consensus of RMB1.2 trillion and […]

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China's CPI Increases 1.5% In April

China's consumer price index (CPI) increased 1.5% year-on-year in April, roughly inline with market expectations, according to data released by China's National Bureau of Statistics. On a monthly basis, the CPI fell by 0.2%. Producer price index (PPI) continues to fall, declining by 4.6% year-on-year in April. "Both CPI and PPI inflation came in below […]

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BUSINESS

JD.Com, ZestFinance To Launch Consumer Credit Joint Venture

JD.Com, ZestFinance To Launch Consumer Credit Joint Venture

Beijing-based e-commerce firm JD.com, Inc. has agreed to launch a joint venture with U.S. financial technology firm ZestFinance to support the development of consumer credit in China, according to a joint announcement. As part of the agreement, JD.com will invest an undisclosed amount in ZestFinance to help it fund further development of credit risk evaluation […]

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Vanguard Adds China A-Shares To Emerging Market Index Fund

Vanguard Adds China A-Shares To Emerging Market Index Fund

Valley Forge, Pennsylvania-based index fund giant Vanguard says that it will include China A-shares to one of its emerging market funds, according to a company announcement. China A-shares will represent 5.6% of the new benchmark for the US$69 billion Vanguard Emerging Markets Stock Index Fund, which together with its ETF shares will be the first […]

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China Seeks Private Capital For $318B Public-Private Partnership Projects

China Seeks Private Capital For $318B Public-Private Partnership Projects

China's National Development and Reform Commission (NDRC) released a list of 1,043 proposed public-private partnerships (PPP) projects totaling RMB1.97 trillion (US$317.75 billion), and is inviting private capital to participate, according to a statement posted on the planning agency's website. The proposed projects are in the transport, water conservancy, natural resources, and public services sectors. China […]

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China-Focused Hedge Funds Up The Most In April

China-Focused Hedge Funds Up The Most In April

Asia ex-Japan hedge funds were the best performers in April, with gains of 8.26% for the month. In the region, Chinese managers posted the best returns, with the Eurekahedge Greater China Hedge Fund Index up 15.55%, according to a research report by Eurekehedge, a hedge fund data and research firm. Investor optimism remained high following […]

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Asia To Take Over Half Of World's Mobile Games Revenue By 2018

Asia To Take Over Half Of World's Mobile Games Revenue By 2018

Global mobile games revenue will grow from US$29 billion in 2015 to US$45 billion by 2018, and Asia is likely to take over 50% of the industry's revenue worldwide in three years, says a research report by investment advisory firm Digi-Capital. The industry's 15% annual growth means great opportunity for mobile game leaders, but will […]

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China-Focused Hedge Funds Outperform In March, Up 4.85%

China-Focused Hedge Funds Outperform In March, Up 4.85%

Hedge funds investing in Asia ex-Japan have delivered the best returns globally and were up 2.08% in March, led by Greater China-focused funds that gained 4.85% for the month, according to data released by Eurekahedge. Greater China equities were a major winning theme, with the CSI 300 Index soared 13.74% amid speculation that the government […]

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Alibaba Transfers E-Pharmacy Business To Alibaba Health

Alibaba Transfers E-Pharmacy Business To Alibaba Health

Hangzhou-based Chinese e-commerce giant Alibaba Group Holdings has agreed to transfer its online pharmacy business to Hong Kong-listed Alibaba Health Information Technology, formerly named CITIC 21CN, in exchange for majority ownership of the digital healthcare company in a US$2.5 billion deal, according to a company announcement. Alibaba Group will inject the e-pharmacy operations of its […]

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Venture Capital Investments Up 50% To $27B During Q1

Venture Capital Investments Up 50% To $27B During Q1

Global venture capital investments set another record during the first quarter, up 50% year-on-year to reach US$27.4 billion from US$18.1 billion during the same period last year, according to data released by industry research firm Preqin. There has been a slight drop in the number of companies receiving venture capital investment globally, which decreased 6% […]

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Baring Asset Management Appoints Edmund Chong In Senior Role

Baring Asset Management Appoints Edmund Chong In Senior Role

Baring Asset Management has appointed Edmund Chong as head of sales, client service and business development – distribution, Asia ex Japan. He is based in Hong Kong and reports to Gerry Ng, chief executive officer, Asia ex Japan, according to a company announcement. Chong joins Barings from HSBC Global Asset Management, where he was the […]

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OPINION

BofA Merrill: Sell Into Any Rally After Market Support Measures

BofA Merrill: Sell Into Any Rally After Market Support Measures

After a number of market supporting measures implemented by the Chinese government over the weekend, BofA Merrill Lynch is recommending investors to sell into any potential rally as a result of these moves, says a research report issued by the bank. There is a de facto suspension of IPOs in the A-share market. Twenty-one major […]

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China Cuts Interest Rates, More Easing To Come

China Cuts Interest Rates, More Easing To Come

The Chinese central bank's announcement to cut policy rates is not surprising given the country's weak economic fundamentals, but monetary policy easing so far has limited impact on improving the growth momentum, pointing to an ineffective policy transmission process, says a report by ANZ. The People's Bank of China said tonight that it would cut […]

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Increase Of Debt Swap Quota Will Benefit Economy

Increase Of Debt Swap Quota Will Benefit Economy

The Chinese government has allocated another RMB1 trillion (US$160 million) local government debt swap quota, after a similar move in March. The debt swap program allows local governments to issue bonds to refinance debt that was issued through local government financing vehicles, and this latest move increases the total quota for this program to RMB2 […]

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Baring Recommends Chinese Stocks After Pull-Back

Baring Recommends Chinese Stocks After Pull-Back

After a strong start to the year, with the MSCI China Index up 20.4% in U.S. dollar terms year-to-date, the recent pull-back in the market is an attractive opportunity for participation in China’s long-term growth story at a lower entry point, says Baring Asset Management in a report. The Chinese government’s on-going emphasis on reform […]

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Top Hedge Funds Reveal Their Best Chinese Stock Picks

Top Hedge Funds Reveal Their Best Chinese Stock Picks

By Nina Xiang If you are ever going to take stock tips, make sure to attend the Sohn Conference. Now in its 20th year, the Sohn Conference has featured some of history's most successful hedge fund managers, including Carl Icahn, David Einhorn, and Paul Tudor Jones. These billionaire investors share real, actionable investment ideas with […]

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Chinese Stock Market Risks Are Rising

Chinese Stock Market Risks Are Rising

As China's stock market continue its seemingly unstoppable rally, investors should become more cautious and watch out for excessive risks in the market, says a research report by BofA Merrill Lynch Global Research. The bank has favored Chinese stocks since August 2014 when investor angst about corporate defaults and the property market was high, while […]

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For China's Private Equity, The Risk Of Selling Too Early

For China's Private Equity, The Risk Of Selling Too Early

If you are a private equity fund manager in China and you have sold shares of your portfolio companies this year, chances are you are hitting yourself on the head right now. Gabriel Li, managing director at US$3 billion China-focused private equity firm Orchid Asia Group, shared his teeth-biting story at the Hong Kong Venture […]

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China Will Not Reverse Monetary Easing Policies

China Will Not Reverse Monetary Easing Policies

The reported liquidity drain of over RMB100 billion by China's central bank does not indicate the start of the country's monetary policy reversal. China will continue deploying further loosening policies via interest rate cut and bank reserve requirement ratio (RRR) cut, says a BofA Merrill Lynch Global Research report. The People's Bank of China (PBoC) […]

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Alibaba's Challenges Pressure Stock's Near-Term Performance

Alibaba's Challenges Pressure Stock's Near-Term Performance

The author is founder and CEO of T.H. Capital Tian X. Hou Alibaba Group Holdings will report its fiscal fourth quarter, 2015 results on Thursday, May 7th. We believe that we most likely won’t see any positive surprises in its earnings as it is facing pressure from both short term negatives and fundamental changes. One […]

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