Victor Jong, Partner, Advisory Services, PwC, is based in Shanghai and has practiced in the insolvency and corporate reorganization field since 1994. He transferred to PwC’s Shanghai office in 2004 to develop the restructuring and insolvency practice in mainland China. He has advised on numerous debt restructurings, distressed investments, receiverships and liquidation assignments in the Greater China region.
Chinese investment firm ZZ Capital International (8295.HK) said it would terminate a deal to acquire U.S. energy index provider Alerian MLP Index. Aretex Capital Partners, a private investment fund launched this year by two executives at ZZ Capital, will be acquiring Alerian for an undisclosed price, ZZ Capital said in a statement today.
AlphaX Partners, a Chinese venture capital firm founded by three veteran Chinese investors, have raised its debut fund with RMB2 billion (US$314 million) in total capital commitments, the firm announced today.
NewsDog, an Indian news aggregation and personal recommendation mobile app operator, has completed a US$50 million series C round led by Chinese tech giant Tencent Holdings Ltd.
China will cut import tariffs for automobiles and car parts , the country’s finance ministry said today, in a major concession aimed at easing trade tensions with the United States.
Chris Lee, formerly chief executive officer of crypto exchange OKEx, has resigned and joined rival Huobi, both Huobi and Li announced today.
In this episode of China Money Podcast, listen to all the news headlines in the week of May 14-18, 2018 with host Nina Xiang. Topics covered include Alibaba’s founder Jack Ma’s views on blockchain, the world’s largest Bitcoin miner Bitmain leading US$110 million in Goldman Sachs-backed Circle, and Chinese autonomous driving start-up Roadstar.ai raising a massive US$128 million financing round. Be sure to subscribe to China Money Podcast for free in the iTunes store, or subscribe to our weekly newsletter. …
OneSpace Technology, China’s first private rocket producer, has successfully launched its first single-stage OS-X solid rocket earlier today, according to state media reports, marking an important step for China’s nascent commercial launch industry.
Global investment firm KKR today announced the appointment of real estate veteran John Pattar as member and head of KKR’s real estate business in Asia Pacific.
Zhejiang Ebang Communication Co., Ltd., a Chinese telecommunications equipment and Bitcoin mining machine manufacturer, is in the process of applying for an initial public offering in Hong Kong, according to people with knowledge of the matter.
The Financial Supervisory Service (FSS) of South Korea will assist the Korean Financial Intelligence Unit (KIU) and Financial Services Commission (FSC) in evaluating the balance sheet of UPbit, the country’s largest cryptocurrency exchange. The regulators will also review existing regulations on cryptocurrency exchanges in the country.
Hong Kong’s proximity to China has long been its stronger selling point. But according to a new Fitch Ratings report, it is having a bad influence on the city’s banking sector.
HSBC and ING Bank have used Corda blockchain technology to finance a shipment of soya beans from Argentina to Malaysia for food and agriculture conglomerate Cargill, HSBC said on its Twitter account.
Chinese ride hailing giant DiDi said it will suspend its hitch service nationwide for a week for rectification, following a murder case earlier this week. The case comes at a time when Didi is reportedly planning an initial public offering this year or next, and is facing increasing competition from strong new players in China’s ride hailing market including Meituan Dianping and Ctrip.
China’s live game streaming firm Huya Inc. will price its initial public offering of 15 million American Depository Shares (ADS) on the New York Stock Exchange (NYSE) at US$12 per ADS, according to media reports. If correct, the company will raise US$180 million.
Taiwanese blockchain start-up OwlTing has received a strategic investment in the company by Japan’s SBI Crypto Investment, a wholly-owned subsidiary of SBI Holdings, the company announced. The investment is an eight figure U.S. dollar investment for 20% equity, according to the announcement.
The Shanghai No.1 Intermediate People’s Court made a public verdict on former Anbang Insurance Group boss Wu Xiaohui regarding his fundraising fraud and infringement case, sentencing Wu long-term imprisonment and confiscation of property, China’s Xinhua News Agency reported.
GIC, the Singapore investment firm managing the state’s foreign reserves, has led a US$260 million (RMB1.653 billion) series B financing in CStone, a Chinese bio-pharmaceutical company.
Stockholm-headquartered EQT Partners has reached final closing of the EQT Mid Market Asia III fund with total commitments of US$800 million. The fund seeks to make control or co-control investments in companies in Greater China and Southeast Asia with significant growth and development potential, the firm said today.
Alibaba Group is continuing its acquisition spree in South Asia with news that it has acquired one of the region’s largest e-commerce platform, Daraz Group.
Jason Tan (pictured), a former Tiger Global executive, has joined investment firm Jeneration Capital Management as partner and chief investment officer, the firm announced today.
In this episode of China Money Podcast, listen to all the news headlines in the week of April 30-May 4, 2018, including Chinese robot maker Ubtech scoring a US$820 million around, and Baidu’s financial services arm securing a US$1.9 billion round. Be sure to subscribe to China Money Podcast for free in the iTunes store, or subscribe to our weekly newsletter. Follow us on Twitter @chinamoneypod, follow us on our LinkedIn page. Please scan the QR code below to follow …
OC Horizon FinTech, an Asian crypto investment fund, has reported a 29% return during the past six months after it commenced operations last November, the firm announced today.
China Orient Asset Management Co. (COAMC), one of the big four Chinese state-owned asset companies tasked with dealing with the country’s bad debt, is planning to raise around RMB100 billion (US$16 billion) to invest in China’s non-performing loans.
Crypto traders and managers believe that Bitcoin could achieve new highs soon, barring any major negative regulatory actions by governments. China Money Network recently caught up with three crypto experts to get their predictions, and here is what they had to say.
Chinese internet giant Baidu Inc. has sold a majority stake in its Financial Services Group (Baidu FSG) for US$1.9 billion to an investor group led by TPG and The Carlyle Group, with participation from Taikang Group, ABC International Holdings and others.
Sky9 Capital, a venture capital firm founded by a former partner at Lightspeed Venture Partners, announced today that it has completed the final closing of a new fund with total commitments of US$200 million.
In this episode of China Money Podcast, listen to all the news headlines in the week of April 23-27, 2018, including Baidu’s new AI fund, a number of VC fund closings and six mega VC rounds each worth US$100 million and more. One round was a whopping US$1.9 billion. Be sure to subscribe to China Money Podcast for free in the iTunes store, or subscribe to our weekly newsletter. Follow us on Twitter @chinamoneypod, follow us on our LinkedIn page. …
Chinese online travel service provider Ctrip.com International (NASDAQ: CTRP) says it wants to bring supersonic air travel to China.
Arctic Green Energy, a renewable energy company focusing on creating zero-emission cities, has completed a new funding deal from CITIC Capital, China Everbright Ltd. and Asian Development Bank. CITIC Capital, an early investor in Arctic Green Energy since 2015, has exercised its conversion rights to acquire equity of US$30 million in Arctic Green Energy. China Everbright Ltd. has purchased shares and an exchangeable bond issued by Arctic Green Energy for a total of US$70 million. Previously, Arctic Green Energy announced …
Sinovation Ventures, a Chinese venture capital firm founded by former Google China head Kai-Fu Lee, today announced the close of its new US$500 million Fund IV to invest in early and growth stage Chinese and U.S. technology companies.