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.
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.
After Lai Xiaomin, party secretary and chairman of China Huarong Asset Management Co., Ltd., was under investigation for Huarong’s financial backing of a private firm, the new Huarong chief Wang Zhanfeng is now launching an inspection on its more than 10,000 employees.
Baidu, Inc. (NASDAQ: BIDU) today announced that it has entered into definitive agreements with certain investors relating to the divestiture of its global ad and tools business ("Global DU business"), which provides DU ads and tool apps, including Du Caller, Mobojoy, Photo Wonder and DU Recorder.
China’s Ministry of Industry and Information Technology expects that after robust growth in the country’s blockchain industry, 2018 will prove to be another blockbuster year for the sector with record amount of capital injected into blockchain, according to an industry report published by the ministry today.
Chris Lee, formerly chief executive officer of crypto exchange OKEx, has resigned and joined rival Huobi, both Huobi and Li announced today.
In another high-level executive departure, Baidu Inc. today announced that Lu Qi will no longer serve as chief operating officer of the company starting in July 2018. He will continue to serve as vice chairman of the board of directors.
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.
China’s largest ride-hailing firm Didi Chuxing has released a safety overhaul after it suspended its Didi Hitch service last week, following the murder of a female passenger that shocked the country.
Chinese e-commerce firm JD.com Inc. has invested US$306 million in Warburg Pincus-backed Asian logistics real estate developer and operator ESR Cayman Ltd., according to an announcement by ESR today.
Chinese president Xi Jinping has called for enhanced cooperation on innovation between mainland China and Hong Kong to help make Hong Kong to become an international innovation hub.
CME Group, the Chicago-based derivatives marketplace, has teamed up with London-based cryptocurrency trading platform Crypto Facilities Ltd to launch the CME CF Ether-Dollar Reference Rate. It will provide a daily benchmark price in U.S. dollars at 4pm London time. The pair is also launching CME CF Ether-Dollar Real Time Index, which will allow users access to a real-time Ether price in U.S. dollars.
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.
Singapore-based global provider of logistics solutions GLP said that it had established a RMB10 billion (US$1.6 billion) investment fund dedicated to investing in the logistics sectors in China.
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.
Tencent Holdings’ WeChat app has reportedly removed the first blockchain-based mini-program from its mobile app, because the mini-program operates in areas that is not available on the platform currently, according to screenshots circulating on the Internet today.
Logistics, government and the medical industry are the areas believed to be the most likely to create value via adopting blockchain technology, according to a survey jointly released by PwC and VeChain, a Chinese cloud-based blockchain platform facilitating financial services, supply chain management and smart contracts.
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.
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.
Chinese alternative asset fund manager CDH Investments has proposed to acquire Australian medical device company Sirtex Medical Limited (ASX: SRX) for about A$1.87 billion (US$1.4 billion), according to Sirtex Medical’s announcement today. Sirtex Medical said it had received an unsolicited non-binding, indicative and conditional proposal from CDH Investments to acquire 100% of its shares for a cash price of A$33.6 per share, representing a 14.2% premium over its closing price of A$29.42. With 55.77 million shares outstanding, Sirtex Medical is …
Chinese venture capital activity continued its blistering pace of growth in April, with investors inking 209 deals with venture-backed companies worth a total US$15.59 billion. April’s total VC deal value in China was 166% higher than the monthly average in the U.S., according to the China VC Tracker released by China Money Network today.
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.
A Chinese precision manufacturing and equipment maker is in distress with total outstanding debt of RMB45 billion (US$7 billion). Government officials in Zhejiang province, where DunAn Group is based, and creditors have gathered to discuss solutions for the company’s escalating debt crisis.
HNA Group is selling a property project in Shanghai to Chinese developer Fujian Group for RMB2.9 billion (US$456 million) to shore up its balance sheet, according to a security filing issued today by HNA Capital, the financial services arm of HNA.
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.
China’s tech giant Baidu Inc. (NASDAQ: BIDU) is planning to spin off a majority equity stake in its financial service business, the company announced today when releasing its first quarter financial results.
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 …
Goldman Sachs has led a US$300 million new financing round in Chinese online used-car trading marketplace Renrenche, with existing investors Tencent Holdings Ltd. and Didi Chuxing participating, the company announced today.
Chinese electronics giant Xiaomi Inc. has made an unusual promise that it will limit its net profit margin to 5% for its hardware business, including smartphones, IoT and lifestyle products. The news is significant given Xiaomi is reportedly gearing up for an IPO that some say could value the company up to US$100 billion.