FUNDS

Legend Holdings Files For Hong Kong IPO, Seeks $3B

Legend Holdings Files For Hong Kong IPO, Seeks $3B

Beijing-based Chinese conglomerate Legend Holdings Limited, the parent company of Hong Kong-listed personal computer maker Lenovo Group Limited, has filed for an initial public offering in Hong Kong, according to a securities filing. The IPO, which reportedly seeks to raise as much as US$3 billion, is expected to be completed in the third quarter of […]

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Zhong An Insurance To Raise $1.45B In First Financing Round

Zhong An Insurance To Raise $1.45B In First Financing Round

Shanghai-based Internet insurance company Zhong An Insurance, co-founded by three Chinese online entrepreneurs, is in the process of raising approximately RMB9 billion (US$1.45 billion) in its first round of financing, according to Chinese media reports. China International Capital Corporation Limited (CICC) and Morgan Stanley are participating in the financing round, which is expected to close […]

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Xiaomi, Shunwei, Sequoia, WestSummit Invest $80M In Ninebot

Xiaomi, Shunwei, Sequoia, WestSummit Invest $80M In Ninebot

Beijing-based personal transportation robot maker Ninebot Inc. has received US$80 million investment from Chinese smartphone maker Xiaomi Inc., Shunwei Capital, Sequoia Capital and WestSummit Capital, according to an announcement. At the same time, Ninebot says it has acquired rival, Segway PT. Deal terms were not disclosed. Ninebot was officially founded in 2012 by a group […]

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Intel Capital Launches Debut Angel Fund in China

Intel Capital Launches Debut Angel Fund in China

Intel Capital, Intel’s global investment and M&A arm, has launched a RMB80 million (US$13 million) China angel fund designed to provide capital support to the country’s innovative makers, and focus on enabling smart device maker ecosystem development in China, according to a company announcement. This is the first angel fund and the fourth investment fund […]

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Accel Partners, KPCB Invest In Chinese Drone Maker DJI

Accel Partners, KPCB Invest In Chinese Drone Maker DJI

Shenzhen-based Chinese consumer drone maker SZ DJI Technology Co. is in the process to raise hundreds of millions U.S. dollars in new funding at a valuation of U$10 billion, making it the most valuable consumer drone manufacturer in the world, according to media reports. Investors in the round may include Accel Partners and Kleiner Perkins […]

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Asia Alternatives Management Raises $1.8B For New Funds

Asia Alternatives Management Raises $1.8B For New Funds

Asia-focused private equity fund-of-funds (FoF) manager Asia Alternatives Management LLC has reached final closing of over US$1.8 billion for its fourth fund, Asia Alternatives Capital Partners IV, L.P., as well as its related fund vehicles, according to a company announcement. The firm's fourth fund, along with its sleeve fund focused on investments outside Japan, closed […]

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Welkin, Prosperous Alliance Invest In Vietnamese Restaurant Chain

Welkin, Prosperous Alliance Invest In Vietnamese Restaurant Chain

Two Hong Kong-based investment firms have participated in a US$15 million series C financing round in Vietnamese restaurant chain operator, Huy Vietnam Group Limted, according to a company announcement. The round is led by Templeton Emerging Markets Group. Hong Kong-based private equity firm, Welkin Capital Management, and Hong Kong-based family office, Prosperous Alliance Investments Limited, […]

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China Media Capital, SMG, FremantleMedia Form China Joint Venture

China Media Capital, SMG, FremantleMedia Form China Joint Venture

China Media Capital, Shanghai Media Group and London-headquartered television production firm FremantleMedia have agreed to establish a joint venture to create entertainment products for the China market, as well as to take proprietary China content to the world market, according to a joint announcement. No financial details of the venture were announced. FremantleMedia will develop […]

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Venture-Backed Sungy Mobile Receives Go-Private Proposal

Venture-Backed Sungy Mobile Receives Go-Private Proposal

Guangzhou-based Chinese mobile content and service provider Sungy Mobile Limited says that it has received a preliminary non-binding proposal from the company's senior executives to take the company private, according to a company announcement. Sungy Mobile's chairman and CEO, Deng Yuqiang, and company co-chief operating officer Zhu Zhi, propose to acquire all of the company's […]

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ECONOMY

China's New Loans Stay Elevated At RMB1.18T In March

China's new RMB loans remained elevated in March, reaching RMB1.18 trillion, up from the RMB1.02 trillion recorded in February, according to data released by the People’s Bank of China. The aggregate financing continued to remain lukewarm at RMB1.18trn in March, compared with RMB2.1trn during the same period of last year. The M2 growth moderated to […]

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China's Exports Fell Sharply In March, Down 15%

China's exports contracted 15% year-on-year in March, after a surge of 48.3% in February, against market consensus expectations of a 12% increase, according to data released by China's General Administration of Customs. Imports shrank 12.7% year-on-year, an improvement from last month's decline of 20.5%, but was still below market expectations' of a 10% contraction.

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China's CPI Remains Steady In March, Up 1.4%

China's consumer price index (CPI) remained steady in March, increasing 1.4% year-on-year, according to data released by China's National Bureau of Statistics. On a monthly basis, the CPI fell by 0.5%, from 1.2% previously, as food prices declined after the Chinese New Year. Producer price index (PPI) continues to fall, declining by 4.6% year-on-year in […]

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China's Official PMI Edges Up To 50.1 In March

China's official manufacturing purchasing managers index (PMI) edged up to 50.1 in March from 49.9 in February, against market consensus of 49.7, according to data released by China’s National Bureau of Statistics. "We believe that recent easing efforts by Chinese authorities should have helped stabilize the growth momentum somewhat. In addition to monetary and fiscal […]

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China's HSBC Flash PMI Drops To 49.2 In March

China's HSBC flash manufacturing purchasing managers index (PMI) slipped to 49.2 in March, from a final reading of 50.7 and a flash reading of 50.1 in February. It is an 11-month low for the index. "The (reading)…signaled a slight deterioration in the health of China’s manufacturing sector in March. A renewed fall in total new […]

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China's New Loans Reach RMB1.02T In February

China's new RMB loans reached RMB1.02 trillion in February, beating market expectations of RMB750 billion, according to data released by the People’s Bank of China. Outstanding RMB loan grew by 14.3% in February year-on-year. The aggregate social financing was RMB1.35 trillion, also beating market consensus. China's M2, a broad measure of money supply, increased 12.5% […]

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China's CPI Increases 1.4% In February

China's consumer price index (CPI) increased 1.4% year-on-year in February, up by 0.6 percentage points from the previous month, beating market consensus, according to data released by China's National Bureau of Statistics. Producer price index (PPI) was below market consensus, declining 4.8% year-on-year in February, compared with January's 4.3% drop. The gauge has remained in […]

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China's Exports Surprise On The Upside In February

China's export increased 48.3% over a year earlier to US$169.2 billion in February, much higher than market consensus, according to data released by China's General Administration of Customs. Imports declined by 20.5% on a year-on-year basis in February to US$108.6 billion. This led to the record high trade surplus of US$60.6 billion for the month.

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China's Official PMI Remains Weak At 49.9 In February

China’s official purchasing managers index (PMI), the bellwether of large industrial firms, inched up to 49.9 in February, up by 0.1 percentage points over a month earlier, according to data released by China’s National Bureau of Statistics. The output sub-index fell by 0.3 percentage points to 51.4, affected by the weak activity during the Chinese […]

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BUSINESS

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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Asia Pacific Hedge Funds' Total Assets Up 30% To Reach $145B

Asia Pacific Hedge Funds' Total Assets Up 30% To Reach $145B

The Asia Pacific hedge fund industry has reached US$145 billion in aggregate assets-under-management at the end of 2014, up 30% from US$112 billion a year ago. Hedge funds based in the region have also outperformed global peers, returning 11.91% on an annualized basis over the past three years, compared to 8.88% for global hedge funds, […]

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ANZ Expands RMB Cross-Border Financing Teams

ANZ Expands RMB Cross-Border Financing Teams

The Australia and New Zealand Banking Group Limited (ANZ) has made a number of senior appointments in its RMB banking and trading teams, in an effort to support growing volumes of RMB denominated cross-border financing activities, according to a company announcement. Lucy Chen has been recruited as global head of RMB transaction banking, a new […]

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Lifespan Of Private Equity Funds Stretches To 13.2 Years

Lifespan Of Private Equity Funds Stretches To 13.2 Years

The median lifespan of global private equity funds across all sectors and geographies has reached an unprecedented 13.2 years, up from 11.5 years in 2008, according to an analysis conducted by online private equity market place, Palico. Only some 12% of funds liquidated in 2014 were wound up by their tenth year, which is the […]

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Citi Appoints Catherine Cai As Head Of China Investment Banking

Citi Appoints Catherine Cai As Head Of China Investment Banking

Citi has appointed Catherine Cai as managing director, chairman and head of China investment banking, reporting to Mark Slaughter, head of corporate and investment banking for Citi in Asia Pacific, according to a company announcement. Catherine will oversee Citi’s China investment banking team, and continue the strong partnership between China investment banking and industry coverage, […]

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Mobile Technologies To Account For 4.8% Of China's GDP By 2020

Mobile Technologies To Account For 4.8% Of China's GDP By 2020

Mobile technologies account for 3.7% of China’s GDP, or US$365 billion. China’s mobile GDP, now the second largest in the world, is poised to grow to 4.8% of GDP by 2020 due to the global expansion of China’s manufacturers and its strong patent position in mobile technologies, according to a new report by the Boston […]

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Alibaba Group Acquires $383M Stake In Enlight Media

Alibaba Group Acquires $383M Stake In Enlight Media

Chinese e-commerce giant Alibaba Group Holding Ltd. has purchased a RMB2.4 billion (US$383 million) stake in Beijing-based television and film company Enlight Media Group, according to a securities filing. Enlight Media has issued 99 million new shares at RMB24.22 apiece to Hangzhou Ali Venture Capital Co., a financial arm of Alibaba Group, via a private […]

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OPINION

More Chinese Developers Will Likely Default In 2015

More Chinese Developers Will Likely Default In 2015

The earnings and profitability of some Chinese property developers could deteriorate further in 2015, and more defaults cannot be ruled out, says a report published by Standard & Poor's Ratings Services (S&P). The annual results for 2014 indicate that many developers are in significantly worse shape than in the previous year. Although most of these […]

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Strong Southbound Flows To Narrow A/H Share Premium

Strong Southbound Flows To Narrow A/H Share Premium

The strong capital flows from mainland investors to Hong Kong, triggered by government policies to ease restraints on such investments, may carry on for some time, and the A/H premium may narrow in the coming weeks, says a research report by BofA Merrill Lynch Global Research. In recent weeks, the Chinese government has announced a […]

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China's First-Tier Cities To Benefit From Property Policy Easing

China's First-Tier Cities To Benefit From Property Policy Easing

The Chinese government's recently announced easing measures for the property could provide some modest support to growth in the remainder of the year, says a report by the Australia and New Zealand Banking Group Limited (ANZ). On March 30, the People's Bank of China (PBoC) urged financial institutions to support home purchases using a combination […]

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China's Local Government Debt Swap Is A Right Step Forward

China's Local Government Debt Swap Is A Right Step Forward

China's decision to launch local government debt swap is the right step in restructuring its massive local debt problem, and should be done on a much larger scale to help manage the country's rising debt pile, says a research report by UBS AG. China's Ministry of Finance (MoF) has given local governments permission to issue […]

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China's RMB Becoming A Major Reserve Currency?

China's RMB Becoming A Major Reserve Currency?

China's currency is likely to enter into the IMF's Special Drawing Right (SDR) scheme this year, and could have the potential weighting of approximately 13%, above the British pound and Japanese Yen, which could make the RMB the seventh largest reserve currency in the world, says a research report by BofA Merrill Lynch Global Research. […]

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Fitch: Macau's Gaming Revenue Is Likely To Decline 22% In 2015

Fitch: Macau's Gaming Revenue Is Likely To Decline 22% In 2015

Macau's gaming revenues is likely to decline 22% in 2015, due to Chinese government's anti-corruption crackdown, tighter credit availability, and the recently implemented smoking and visa restrictions, says a research report by Fitch Ratings. The rating agency cautions that there is some risk that the visa and smoking rules will become more restrictive, and that […]

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Jack Perkowski: Five Predictions For China In The Year Of The Goat

Jack Perkowski: Five Predictions For China In The Year Of The Goat

The author is Jack Perkowski, founder and managing partner at JFP Holdings The Shanghai Stock Exchange Index soared 59% last year, making Shanghai one of the world's best performing stock markets. Will Chinese stocks continue their impressive rise in 2015? Will the Year of the Goat become known as the Year of the Capital Markets? […]

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China's Large Banks Will Be Resilient In A Property Market Crash

China's Large Banks Will Be Resilient In A Property Market Crash

China's small to mid-size banks would be at greater risk in the extreme scenario that the Chinese property market crashes, given their geographic concentration and weaker customer credit profiles. Larger banks should prove more resilient, says a Standard & Poor's report. "If property prices drop 20% over the next year, the increase in gross non-performing […]

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A Preview Of China's 12th National People's Congress

A Preview Of China's 12th National People's Congress

The Third Session of the 12th National People's Congress (NPC), China's top legislature, will open on March 5th. During the meeting, Beijing could lower the GDP growth target for 2015 to around 7.0% from around 7.5% in 2014, says a report by BofA Merrill Lynch Global Research. The major reason is China's declining potential growth, […]

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