FUNDS

Cathay Capital Invests In French Web Localization Firm Datawords

Cathay Capital Invests In French Web Localization Firm Datawords

Sino-French private equity firm Cathay Capital Private Equity has led an undisclosed investment in French web localization and marketing firm Datawords, according to a company announcement. Keensight Capital, Cathay Capital's key backer, French investment firm Bpifrance, as well as existing investor French investment firm Capzanine, also participated in the round.

Continue Reading

SAIC Capital Leads New Funding Round In SDC Materials

SAIC Capital Leads New Funding Round In SDC Materials

Tempe, Arizona-based automotive material maker SDC Materials, Inc. has completed an undisclosed round of new financing led by SAIC Capital, the venture capital investment arm of Chinese car maker SAIC Motor Corporation, according to a company announcement.

Continue Reading

ChinaEquity Group Leads $13M Series A In Livall Riding

ChinaEquity Group Leads $13M Series A In Livall Riding

Shenzhen-based smart cycling helmet maker Livall Riding has completed RMB80 million (US$13 million) series A financing led by ChinaEquity Group, according to Chinese media reports.

Continue Reading

Jiuxian.Com Raises $80M In New Funding Round

Jiuxian.Com Raises $80M In New Funding Round

Beijing-based alcoholic beverage e-commerce company Jiuxian.com has raised RMB500 million (US$80 million) in a new round of financing from undisclosed Chinese investors, according to Chinese media reports. The company says its valuation has been increased to RMB6.5 billion (US$1.05 billion) after this new round.

Continue Reading

Carlyle Invests $85M In Chinese Vending Machine Operator Ubox

Carlyle Invests $85M In Chinese Vending Machine Operator Ubox

The Carlyle Group has invested RMB530 million (US$85 million) in Chinese vending machine operator Beijing Ubox Technology & Trade Co., Ltd. for an undisclosed amount, according to a company announcement. The global private equity giant made the investment via its RMB fund, Carlyle Beijing Partners Fund, L.P., which was established with the support of the […]

Continue Reading

CIC Capital Officially Launched, Targets $100B In Total Capacity

CIC Capital Officially Launched, Targets $100B In Total Capacity

An overseas direct investment fund launched by China Investment Corporation earlier this year has officially begun operation, and plans to reach US$100 billion in total investment capacity eventually, according to Chinese media reports. The new investment platform, named CIC Capital Corporation, was registered in January with US$5 billion in capital. It will be responsible for […]

Continue Reading

CIC To Acquire Australian Office Block From Morgan Stanley

CIC To Acquire Australian Office Block From Morgan Stanley

China Investment Corp. has emerged as the winner of an auction, paving the way for it to acquire a property portfolio of nine Australian office buildings from Morgan Stanley's real estate investment arm for an undisclosed amount, according to a company statement.

Continue Reading

New Horizon Leads $36M Series B In Zhaosuliao.Com

New Horizon Leads $36M Series B In Zhaosuliao.Com

Guangzhou city, Guangdong province-based online plastic trading platform Zhaosuliao.com has completed US$36 million series B financing led by New Horizon Capital, according to Chinese media reports. GX Capital, Qiming Venture Partners, IDG Capital Partners, and Zhenshun Fund also participated in the round.

Continue Reading

Tsinghua Unigroup Backs Xueda Education Privatization And Re-list Deal

Tsinghua Unigroup Backs Xueda Education Privatization And Re-list Deal

New York Stock Exchange-listed Chinese student tutoring service firm Xueda Education Group has agreed to be acquired by Shenzhen-listed Xiamen Insight Investment Co., Ltd., which is controlled by Tsinghua Unigroup Limited, according to a company announcement. Xiamen Insight has raised its offer and plans to acquire all of Xueda Education's shares for US$5.50 in cash […]

Continue Reading

ECONOMY

China's Caixin Flash PMI Drops To 48.2 In July

The flash Caixin/Markit China Manufacturing Purchasing Managers' Index (PMI) dropped to 48.2, the lowest reading since last April and a fifth straight month below 50, the level separating contraction from expansion.

Continue Reading

China's GDP Growth Flat At 7% During Q2

China's GDP growth stayed flat at 7% year-on-year in the second quarter, helped by a notable pickup in the services sector, according to data released by the National Bureau of Statistics. Property sales grew strongly in June and the second quarter, but a sizable inventory overhang in most cities led to the continued double-digit contraction […]

Continue Reading

China's New Loans, M2 Continue To Improve In June

China’s new RMB loans picked up to RMB1.27 trillion in June, up from RMB900 billion in May, beating market expectations as a result to recent monetary easing measures, according to data released by the People’s Bank of China. During the first six months, new RMB loans totaled RMB6.56 trillion, compared with RMB5.7 trillion for the […]

Continue Reading

China's Exports Rose 2.1%, Imports Down 6.7% In June

China's exports in rose 2.1% year-on-year in June, compared with a decline of 2.8% the prior month, according to data published by the General Administration of Customs. Export numbers are above market consensus of a 1.2% gain. During the first six months of the year, exports rose about 0.9% year-on-year in RMB terms.

Continue Reading

China's CPI Edges Up To 1.4% In June

China's consumer price index (CPI) edged up slightly to 1.4% year-on-year in June, up from 1.2% in the prior month, as food prices rebounded in the month, according to data released by China's National Bureau of Statistics. On a monthly basis, the CPI remained unchanged, versus a 0.2% decline in the prior month. Producer price […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

BUSINESS

Alibaba Pushes Cloud Unit Aliyun Expansion With $1B Investment

Alibaba Pushes Cloud Unit Aliyun Expansion With $1B Investment

Alibaba Group Holding Limited is investing US$1 billion to accelerate the global roll out of its cloud-computing business, according to its corporate news website Alizila. The investment underscores the importance Alibaba gives to cloud computing as a future revenue driver.

Continue Reading

BlackRock Obtains China's QDLP License

BlackRock Obtains China's QDLP License

BlackRock Inc. has been granted a Qualified Domestic Limited Partnership (QDLP) license to raise onshore funds in China to invest overseas, according to media reports. In September 2013, six global hedge fund management companies, including Man Group Plc, Winton Capital Management, Oaktree Capital Management, Citadel LLC, Och-Ziff Capital Management Group and Canyon Partners, each received […]

Continue Reading

Asian Hedge Funds Down 1.58% In June

Asian Hedge Funds Down 1.58% In June

Asia ex-Japan hedge funds suffered their worst month in June since 2013, down 1.58% and recorded US$1 billion performance-based losses as the Shenzhen and Shanghai Composite Indices declined by 11.78% and 7.25% during the month respectively, according to data released by Eurekahedge.

Continue Reading

Alibaba Invests In Luxury Flash Sales Firm Mei.Com

Alibaba Invests In Luxury Flash Sales Firm Mei.Com

Alibaba Group Holding Limited has made an undisclosed investment in Chinese flash sales platform Mei.com as part of a strategic cooperation between the two parties, according to a company announcement. Alibaba will help enhance Mei.com’s supply chain, logistics, IT infrastructure, while Mei.com is to get traffic and consumers from Alibaba's B2C platform, Tmall.com.

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

OPINION

Chinese Consumers Enjoy Freebies Amid Venture-Fueled App Boom

Chinese Consumers Enjoy Freebies Amid Venture-Fueled App Boom

By Nina Xiang Unlike the dot-com bubble at the turn of the millennium, the current explosion of mobile apps – and the astronomical amount of venture money poured into it – are actually bringing real tangible perks to Chinese consumers. In the morning, users can book a private car via Didi Kuaidi's mobile app to […]

Continue Reading

Profiting From Asia's Normalization Era

Profiting From Asia's Normalization Era

By Gabriel Yap, executive chairman of Singaporean investment firm, GCP Global Pte Ltd. I had always wondered what is it like to retire before 40 years old and enjoy the world? What is it like to smell the roses everyday and enjoy every sip of my cappuccino? I summoned up the courage to do just […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading