The ceiling for foreign currency deposits of less than $3 million in the Shanghai Free Trade Zone (FTZ) will be removed, effective on March 1. The change will apply to both corporate and retail accounts, the People's Bank of China's (PBoC) Shanghai branch says today. This is an important policy move towards further interest rate […]

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Siguler Guff's managing director Patricia Dinneen has left the firm to join the Emerging Markets Private Equity Association (EMPEA) as a senior advisor, according to media reports. Dinneen joined Siguler Guff in 2004, where she built the BRIC (Brazil, Russia, India and China) private equity investment business, focusing on Brazil, Russia, India, China, and select […]

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Mountain View, California-based professional social media platform LinkedIn is planning to set up a joint venture with Sequoia China and China Broadband Capital (CBC) to expand its business in China, according to media reports. As part of the deal, Sequoia China and CBC will each contribute $5 million in cash for a 7% stake of […]

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Beijing-based online home textile company Umanto has raised tens of millions U.S. dollars in series B funding, according to Chinese media reports. SIG China led the round. Existing investor Ventech Capital also participated. Previously, Umanto received angel funding from Chinese entrepreneurs and angel investors Xu Xiaoping, Wu Ying and Liu Xiaosong in 2012. It also […]

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Mills under construction set to outpace plant closures that were ordered as part of the government's plan to reduce pollution

In his 1979 novel The Island of Crimea, Vasily Aksyonov imagined the region’s flourishing independence from the Soviet Union. But Aksyonov's prophecy has been turned on its head: Today’s Crimea does not want independence from Ukraine; it wants continued dependence on Russia.

Following a crescendo of terrifying violence, the Ukrainian uprising has had a surprisingly positive outcome. But whether Ukrainians' newfound unity endures will depend on how Europe responds.

For a half-century, the US, which wrote Japan’s postwar “peace” constitution, has pressed Japan to play a greater role in maintaining Asian and global stability. But now that Japan finally has a leader who agrees, the US is getting nervous.

Cambodia’s government has been getting away with murder. It is not the kind of genocidal slaughter conducted by the Khmer Rouge in the 1970’s, but it is murder nonetheless: Cambodian citizens are being deliberately targeted by their country’s security forces.

Uighur academic Ilham Tohti detained since January has been charged with ‘separatism’ in the restive far western region of Xinjiang

HSBC Bank (China) Company Ltd. (HSBC China) says it has completed its first individual RMB cross-border settlement under mainland China’s current account in the Shanghai pilot free trade zone, according to a company announcement. HSBC China assisted an individual customer who works in the pilot zone to transfer their RMB income to their overseas RMB […]

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GlaxoSmithKline scandal and Beijing crackdown spark concerns about complying with local laws and drives more spending on compliance

Chinese e-commerce group Alibaba announced plans to invest in online English learning website TutorGroup. Along with investors Temasek and Qiming Venture Partners, the total investments made in this round with Alibaba are nearly USD100 million. This is reportedly the second round financing for TutorGroup. The company said that with the new investments, TutorGroup plans to […]