FUNDS

United Photovoltaics Receives $67M From Investment Fund

United Photovoltaics Receives $67M From Investment Fund

Shenzhen-based China Merchants Fund Management Co. Ltd, a financial arm under China Merchants Bank Co. Ltd, has agreed to subscribe RMB420 million (US$67 million) convertible bonds of Hong Kong-listed solar power plant investor and operator United Photovoltaics Group Limited, according to a company announcement. Meanwhile, United Photovoltaics has also entered into joint agreements with Shenzhen […]

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Shenzhen Capital, Matrix Participate $16M Series A In MoFang

Shenzhen Capital, Matrix Participate $16M Series A In MoFang

Beijing-based mobile game media platform MoFang has completed RMB100 million (US$16 million) series A financing led by Shenzhen Capital Group, according to a company announcement. Existing investor Matrix Partners also participated in this round of financing. Founded in February 2013, MoFang received RMB10 million angel investment from Matrix Partners last June.

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Legend Capital Leads $100M Series C In Innovent Biologics

Legend Capital Leads $100M Series C In Innovent Biologics

Suzhou city, Jiangsu province-based Chinese bio-pharmaceutical firm Innovent Biologics, Inc. has raised US$100 million series C financing led by Legend Capital, according to a company announcement. New investors, Singapore's Temasek Holdings and two unnamed investors, as well as existing investors Fidelity Biosciences, Fidelity Growth Partners Asia, Lilly Asia Ventures, and Frontline Bioventures, also participated.

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Banyan Capital Raises $362M For Its Third Venture Fund

Banyan Capital Raises $362M For Its Third Venture Fund

China-focused venture capital firm Banyan Capital has reportedly reached final closing of US$362 million for its second U.S. dollar fund, according to Chinese media reports. The fundraising process took only over one month, and is oversubscribed with more than US$500 million of subscriptions received, according to the reports. Representatives at Banyan Capital did not respond […]

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L Capital Asia Leads $100M Investment In Mall Operator Sasseur

L Capital Asia Leads $100M Investment In Mall Operator Sasseur

Singapore-headquartered pan-Asian private equity firm L Capital Asia is to invest in Chinese mall operator, Sasseur Cayman Holding Ltd., in exchange for a significant minority stake in the company, according to a company announcement. Deal terms were not disclosed, but media reports say the investment could be as much as US$100 million. Existing investor, U.S. […]

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Hosen Capital Acquires Chicago Beef Processor Ruprecht Company

Hosen Capital Acquires Chicago Beef Processor Ruprecht Company

Beijing-based private equity firm Hosen Capital has acquired Mundelein, Illinois-based U.S. beef processor and retailer Ruprecht Company for an undisclosed amount, according to an official announcement. Hosen Capital made the acquisition from a fund under its management, New Hope Investment Fund. The deal follows the fund's purchase of a majority stake in Australia's fourth biggest beef […]

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TBP Capital Leads $15M Series B In Yuntongxun.Com

TBP Capital Leads $15M Series B In Yuntongxun.Com

Beijing-based cloud technology developer Yuntongxun.com has received US$15 million series B financing from TBP Capital, according to unverified media reports. In 2013, the company received US$4 million series A financing from Sequoia Capital, according to the company's official website. Founded in May 2013, the platform has currently gathered more than 10,000 developers and over 500 […]

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Xiaomi, Shunwei, Matrix In $20M Series C For Lizhi.FM

Xiaomi, Shunwei, Matrix In $20M Series C For Lizhi.FM

Guangzhou, Guangdong province-based radio mobile app developer Lizhi.FM has received US$20 million series C financing from Xiaomi Inc., Shunwei Capital, Matrix Partners China, and Morningside Ventures, according to media reports. In December 2011, the company received US$10 million series B financing from Matrix and Morningside. In December 2010, it received millions of U.S. dollars series […]

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CDH Investments To Pay Back Loan Backed By WH Group Shares

CDH Investments To Pay Back Loan Backed By WH Group Shares

Beijing-based alternative investment firm CDH Investments, the largest financial shareholder in Hong Kong-listed Chinese pork giant WH Group, is in the process of paying back a loan backed by part of its shareholding of WH Group, according to media reports. In October 2014, CDH Investments took out a loan of US$500 million with its approximately […]

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ECONOMY

China's HSBC Flash PMI Increases To 49.8 In Jan

China's January HSBC flash manufacturing purchasing managers’ Index (PMI) ticked up by 0.2 percentage points, coming in at 49.8, slightly higher than December's 49.6, beating the market consensus, according to data released by the HSBC Group. January HSBC Flash China Manufacturing Output Index came in at 50.1, compared with 49.9 in December.

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China's GDP Slows To 7.4% In 2014

China’s GDP growth expanded by 7.4% in 2014, the slowest pace since 1990 and down from 7.7% in 2013, according to China's National Bureau of Statistics.

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China's New Loan Slides To RMB697B In December

China's new RMB loans reached RMB697.3 billion in December, lower than market consensus of RMB880 billion, according to data released by the People’s Bank of China.

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China's Exports Growth Jumps To 9.9% In December

China's exports jumped 9.9% from a year ago in December, beating consensus estimates of a 6.8% increase and also stronger than a 4.7% climb in November, according to data released by China's General Administration of Customs. Imports fell 2.3% in December, narrower than a forecast drop of 7.4% and following November's much larger 6.7% decline.

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China's CPI Climbs 1.5% In December

China consumer price index (CPI) increased 1.5% year-on-year in December, up by 0.1 percentage points from the previous month, driven by higher fresh food prices, according to data released by China's National Bureau of Statistics.

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China's Official PMI Drops To 50.1 In December

China’s official PMI, the bellwether of large industrial firms, declined to 50.1 in December, the lowest level in 2014, higher than the market consensus of 50.0, according to data released by China’s National Bureau of Statistics.

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China's HSBC Flash PMI Declines To 49.5 In Dec

China's December HSBC flash manufacturing purchasing managers’ Index (PMI) came in at 49.5, slightly lower than November's 50.0 and reaching a seven-month low, according to data released by the HSBC Group. December HSBC Flash China Manufacturing Output Index came in at 49.7, compared with 49.6 in November, a two-month high.

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China's New Loan Bounces Back To RMB852.7B In November

China's new RMB loans reached RMB852.7 billion in November, 55.5% higher than that of the prior month, beating market expectations RMB655.0 billion, according to data released by the People’s Bank of China.

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China's CPI Weakens To 1.4% In November

China consumer price index (CPI) increased 1.4% year-on-year in November, a five-year low and down by 0.2 percentage points from the previous month, according to data released by China's National Bureau of Statistics.

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BUSINESS

Assets Of Global Alternative Investment Sector Near $7T

Assets Of Global Alternative Investment Sector Near $7T

The global Alternative investment industry scores another record year in 2014, with total assets increasing US$690 billion to reach a total sector assets of US$6.91 trillion, according to data released by data tracker Preqin. The alternatives industry, which includes private equity, hedge fund, private debt, real estate and infrastructure fund managers, registered asset gains larger […]

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Dalian Wanda Invests $52M In Club Atlético de Madrid

Dalian Wanda Invests $52M In Club Atlético de Madrid

Chinese conglomerate Dalian Wanda Group has invested €45 million (US$52 million) to acquire a 20% equity stake in Club Atlético de Madrid, a Spanish football club, to help shore up its balance sheet and support its expansion in China, according to a company announcement. This is the first time a Chinese company has invested in […]

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Itochu, Charoen Pokphand To Acquire 20% Of CITIC Limited For $10.4B

Itochu, Charoen Pokphand To Acquire 20% Of CITIC Limited For $10.4B

Japanese corporation Itochu Corporation and Thai conglomerate Charoen Pokphand Group are to jointly acquire a 20% stake in Hong Kong-listed financial services firm, CITIC Limited, for approximately HK$80 billion (US$10.4 billion), according to a company announcement. The investment will be made through a joint investment vehicle, Chia Tai Bright Investment Company Limited, of which Itochu […]

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Mobile Technology Contributes 3.7% To China's GDP

Mobile Technology Contributes 3.7% To China's GDP

Mobile technology contributed 3.7% to China's overall GDP, a higher ratio than that of the U.S., where mobile technology represented 3.2% of the country's GDP, according to a report by the Boston Consulting Group. The mobile technologies industry generated revenues of almost US$3.3 trillion worldwide in 2014, and is directly responsible for 11 million jobs. […]

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Alibaba, Ant Financial To Invest $575M In India's One97

Alibaba, Ant Financial To Invest $575M In India's One97

China's e-commerce giant Alibaba Group Holding and its affiliate Ant Financial Services Group have agreed to invest around US$575 million in Indian online-payment and marketplace platform One97 Communications, according to media reports.

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Standard Chartered RMB Globalization Index Up 1.2% In November

Standard Chartered RMB Globalization Index Up 1.2% In November

Standard Chartered Renminbi Globalisation Index (RGI), a measure of the Chinese currency's advancement of internationalization, went up by 1.2% to 2,048 points in November over a month earlier, mainly driven by increasing levels of cross-border RMB payment, according to an emailed company announcement. RMB payments accounted for 22% of all traded goods in November, of […]

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Asian Private Equity Funds Hit A Record Year In Exit Deals

Asian Private Equity Funds Hit A Record Year In Exit Deals

Private equity funds in Asia received an aggregate US$42 billion through exits in 2014, 68% higher than that of 2013, despite the number of exit deals dropping 16% to 270 last year, according to data firm Preqin. Globally, private equity funds enjoyed a year of strong exit activities as stock markets rallied. A total of […]

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Ropes & Gray Appoints Eduard Sheremeta As Partner In Hong Kong

Ropes & Gray Appoints Eduard Sheremeta As Partner In Hong Kong

Global law firm Ropes & Gray LLP is has appointed Eduard Sheremeta as a partner in the firm's Hong Kong office, in an effort to enhance its global real estate investments and transactions practice, according to a company statement. Sheremeta has nearly 15 years of experience in real estate law in Asia, including China and […]

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China's Venture Capital Industry Saw Deals Double In 2014

China's Venture Capital Industry Saw Deals Double In 2014

China's venture capital industry drew a close to another strong year. In 2014, a total of 504 venture capital financing deals were announced in the Greater China region, up 15% from a year earlier. Total transaction value reached US$12.8 billion, up 212% compared to 2013, according to data tracker Preqin. Globally, a total of 7,474 […]

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OPINION

China’s Dim Sum Bond Market Growth Will Accelerate

China’s Dim Sum Bond Market Growth Will Accelerate

The authors are Fitch Ratings' senior directors Matt Jamieson and Sabine Bauer The currency of China continues its ascent among global payments settlement, trade, and currency investment. With support from a rapidly expanding network of offshore Yuan clearing centers, Fitch Ratings expects the proliferation of these offshore clearing centers to drive greater issuance of Dim […]

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China Scrutinizes Bank Margin Loan Practices

China Scrutinizes Bank Margin Loan Practices

The Chinese regulators are disciplining bank margin trading loan practices in order to restrain speculation in the stock market, perhaps as a precursor to the central bank's monetary easing policies, according to a research report by Nomura Holdings. China’s benchmark interest rates cut on November 21, 2014 helped to trigger a 40.7% surge in the […]

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Despite China's Economic Slowdown, Private Investors Remain Optimistic

Despite China's Economic Slowdown, Private Investors Remain Optimistic

The author is Brett Tucker, partner at private equity firm Baird Capital China continues to be a rising power in the global economy, but accessing private equity opportunities in this evolving market has become more complex in the recent past. After years of high growth, China’s GDP growth grate hit its lowest mark in five […]

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Will 2015 Be The Year Of Recovery For China's Housing Sector?

Will 2015 Be The Year Of Recovery For China's Housing Sector?

China's housing sector showed sign of recovery as prices of new commodity residential properties for 70 medium-to-large-sized cities surveyed by the National Bureau of Statistics declined by 0.42% month-on-month in December, after falling 0.59% in November and compares with average monthly decline of 1% during the third quarter. At the same time, Soufun's 100-city average […]

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Is China's Shadow Banking In Quiet Resurgence?

Is China's Shadow Banking In Quiet Resurgence?

The resurgence of non-bank-loan financing in December might suggest Chinese financial regulators have eased their grip on shadow banking activities in an effort to support growth, according to a BofA Merrill Lynch Global Research report. In December, new loans surprised on the downside while total social financing (TSF) surprised on the upside. The RMB697 billion […]

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China's December Export Surprises On The Upside

China's December Export Surprises On The Upside

Strong demand from the U.S. and improvements in China's property sector and infrastructure investment drove China's strong foreign trade performance in December, says a report by BofA Merrill Lynch Global Research. Export growth came in above expectations at 9.9% compared to 4.7% year-on-year in December, while import growth surprised on the upside at a 2.4% […]

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A Great Leap Forward For Margin Trading?

A Great Leap Forward For Margin Trading?

At the end of 2014, Chinese A-share's total margin balance as a percentage of total market cap reached a 2.4%, among the highest in the world and on par with that of the New York Stock Exchange and much higher than other markets with data available, according to a research report from BofA Merrill Lynch […]

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The Way Forward For RMB Internationalization

The Way Forward For RMB Internationalization

The internationalization of China's RMB continued to progress quickly in 2014, and will keep its fast pace in 2015 and into the future to become a major trading and reserve currency by the end of the decade, says a report by the Australia and New Zealand Banking Group Limited (ANZ). The People’s Bank of China […]

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Is China Launching A New Stimulus Plan?

Is China Launching A New Stimulus Plan?

China’s National Development and Reform Commission (NDRC) announced this morning that China will accelerate investment in seven key strategic sectors. Media reported that the overall investment plan will exceed RMB10 trillion, and RMB7 trillion projects will kick off this year. The seven sectors include oil and gas, healthcare, environmental protection, clean energy, food, transportation, information […]

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