Ireland Strategic Investment Fund, CIC Capital Announce €150M Fund To Back Irish And Chinese Tech Firms

The Ireland Strategic Investment Fund, a €8.0 billion sovereign development fund managed and controlled by Ireland National Treasury Management Agency, has teamed up with China’s CIC Capital Corporation to establish a €150 million fund to invest in high-growth Irish technology firms with an ambition to access the Chinese market, and Chinese firms seeking to use Ireland as a base for European operations.

Trump May Win The Trade Battle With China But Lose The War

An earlier version of this story first appeared on Tribune Interactive.  The long-predicted China-U.S. trade war is here. The U.S. government under Donald Trump on Tuesday listed US$50 billion worth of Chinese exports that could be hit with 25% tariffs, ranging from electric cars to education material and medicine. China quickly retaliated with a list of similar duties on key U.S. imports including soybeans, planes, cars, beef and chemicals. The tariffs won’t go into effect right away. The U.S. said it …

China Southern-Boeing Aircraft Deal Highlights Risks Of Trade War

China Southern Airlines recently gave the U.S. aerospace giant Boeing Company a present in the form of an agreement to buy US$3.6 billion worth of aircraft. But on Tuesday, the airline’s Chairman Wang Changshun made a thinly veiled warning: if the U.S. engages in a trade war, the deal could be threatened.

Chinese Netizens Shrug Off State Media Merger As Young People Finds News And Entertainment Online

Chinese netizens are indifferent to the news that China will merge its three national radio and television media outlets to create a mega broadcasting conglomerate. Majority of the young population in China now consume news and entertainment on their phones. Television programs, especially state-run TV shows, are mainly watched by older citizens.

FBI Prosecutes Chinese AI Scientist As Sino-US Tech Rivalry Escalates

For the hundreds of thousands Chinese scientists trained overseas returning home, there is now a more palpable concern when making this increasingly popular career move. As the FBI accused a top Chinese AI expert for fraud last week, the action was interpreted by China as part of a "technology cold war" waged by the U.S. against the country and its top scientists.

Beijing Warns Three Major Insurance Companies Over Foreign Investments

China’s government took further steps to clamp down on the nation’s insurance sector by issuing warning on Saturday to three major insurers related to their overseas investments, just one day after the government seized temporary control of Anbang Insurance Group. China Insurance Regulatory Commission (CIRC) issued warning notices to Ping An Insurance (Group) Co. of China, New China Life Insurance and China Re Asset Management Co., saying they had violated official rules regarding overseas investments. The notices did not, however, provide …

China To Scrap Presidential Term Limits Allowing Xi Jinping To Stay On, People’s Reaction Mixed

China’s Communist Party (CCP) has proposed revising the country’s constitution that would allow President Xi Jinping to continue serving as the country’s leader with no limits on terms. CCP said in an announcement via state-owned media outlets today that it will remove the provision that states Chinese President and Vice President "shall serve no more than two consecutive terms" from the constitution. There were over a dozen other proposed changes, but the key action is clearly the deleting of the …

China’s Insurance Regulator To Take Over Troubled Anbang, Chairman Wu Xiaohui Prosecuted For Alleged Economic Crime

China’s insurance regulator has decided to takeover Anbang Insurance Group, a once high-flying insurance company headed by Wu Xiaohui, ex-husband to the granddaughter of former Chinese paramount leader Deng Xiaoping. In a statement posted on the China Insurance Regulatory Committee (CIRC), Wu Xiaohui, Anbang’s ex-chairman, has been prosecuted for alleged economic crimes by a court in Shanghai.

US Securities Regulator Blocks Chinese Takeover Of Chicago Stock Exchange

The U.S. Securities and Exchange Commission ("SEC") decision to block a Chinese-led investor group from buying the Chicago Stock Exchange ends a two-year campaign to turn the small , 136-year old exchange into a venue for international IPOs. It also marks the latest in a string of blocked deals involving Chinese companies trying to buy major U.S. assets.

China’s Huawei Tests 5G Network In Canada Despite Calls For Ban In US

Huawei may be facing a virtual sales ban in the United States, due to alleged security concerns, but that hasn’t stopped the Chinese company from launching tests of its 5G wireless technology just north of the border in Canada. On Wednesday, Huawei unveiled an urban trial of 5G wireless-to-the-home services in Vancouver, in partnership with Canadian carrier Telus. The trial is believed to be the first of its kind in North America. “This trial represents continued progress toward the launch of 5G, …

China Says No More Local Government Guarantees For Corporate Bonds

Chinese companies issuing bonds can no longer seek debt guarantees from local governments, or tell their investors that their bonds are backed by local governments, according to a new measures announced by China’s top State planning body. A notice detailing new rules for corporate bond issuance issued Monday by the National Development and Reform Commission stated: "It is strictly forbidden for reporting enterprises to require or accept the local government and its subordinate departments in various names to provide guarantee …

China’s Dalian Wanda, HNA May Stage Fire Sale To Balance Books

The great unwinding has begun. Driven by overstretched balance sheets and a government crackdown on lavish overseas spending, China’s two biggest corporate shoppers, Dalian Wanda Group and HNA Group, are set to go on a selling spree. And early indication are that we are about to see a fire sale. Speaking Monday as his company announced results, Wang Jianlin, CEO of Dalian Wanda said the company he heads "will resort to every financial tool to reduce debt, including the disposal of …

China’s Direct Investment In US Drops 35% With Value Of New Acquisitions Reduced By 90% In 2017 Due To Regulatory Hurdles

China’s direct investment in the United States dropped by 35% in 2017 to US$29 billion in completed deals, and the value of newly announced Chinese acquisitions in the U.S. dropped by 90% compared to 2016, due to regulatory hurdles from both countries, according to a report by Rhodium Group, a research consultancy based in New York. 

Beijing Considers Policies To Potentially Ban Bitcoin Mining In China

Chinese regulators are rumored to take another forceful action toward the Bitcoin industry, potentially asking bitcoin mining companies in China to exit the business soon. This is another and final major blow to China’s Bitcoin industry after Beijing closed all Bitcoin exchanges and banned initial coin offerings last fall.