Since its introduction by Chinese President Xi Jinping in 2013, the “one belt, one road” initiative, which entails the revitalization of the ancient overland and maritime Silk Road trade routes, has attracted considerable attention. For good reason: The project implies unprecedented opportunities – and challenges.
2016-01-15
Qingdao Haier Co., Ltd. has agreed to buy the electric appliances business of General Electric for US$5.4 billion in cash, as part of a strategic cooperation framework between the two companies, according to a company announcement. The deal is the third largest acquisition of a U.S. company by a Chinese buyer, and the biggest China […]
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2016-01-15
Chinese solar energy firm Asia Clean Capital Ltd. has received a US$40 million project finance loan from Goldman Sachs to accelerate the expansion of its rooftop solar systems in China, according to a company announcement. "Today's announcement signifies a substantial vote of confidence in the future of Asia Clean Capital and also in the fundamentals […]
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2016-01-15
Burberry and Richemont sales glow doesn’t extend beyond mainland
2016-01-15
German specialty chemicals company Evonik is investing an undisclosed amount in GRC SinoGreen Fund III, expanding its venture capital activities into Asia, says a company announcement. "By investing in GRC III, we are opening the door to the fast growing start-up community in Greater China," says Bernhard Mohr, head of venture capital at Evonik. GRC, […]
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2016-01-15
Chinese battery maker Fujian Nanping Nanfu Battery Co., controlled by Chinese private equity and venture capital firm CDH Investments, is near completion of a reverse merger to become listed on China's New Third Board, according to disclosure documents (in Chinese). The reverse merger was first disclosed in September 2015 by Ningbo Yajin Technology Co., Ltd., […]
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2016-01-15
JD Finance, the Internet financial services arm of Beijing-based e-commerce firm JD.com Inc., is in the process to raise between RMB5 billion (US$759 million) to RMB6 billion (US$911 million) in its series A funding round led by Sequoia Capital, according to an internal document obtained by Tencent Finance. The news follows rumors last month that […]
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2016-01-15
China’s new RMB loans declined sharply to RMB597.8 billion in December 2015, down from RMB708.9 billion in November, below market expectations of RMB700 billion. The lower-than-expected new loans suggest that credit demand remained weak, and commercial banks were still reluctant to lend due to rising credit risks, says a research report by ANZ. Aggregate financing […]
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2016-01-15
Stamford, Connecticut-headquartered Point72 Asset Management, a family office managing the assets of U.S. hedge fund SAC Capital Advisors' founder Steven A. Cohen (pictured), has named Marc Desmidt as chief executive officer for its Asia Pacific region, according to a company announcement. "Marc has spent a quarter century investing, managing and leading in Asia in two […]
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2016-01-15
Hong Kong-based investment firm Bravia Capital has acquired a stake in Rent Alpha Private Limited, an Indian equipment leasing company, for an undisclosed amount, according to a company announcement. "The growth trajectory of the Indian economy will need the support of specialized asset financing structures," says Sujit Cherian, head of India business for Bravia Capital. […]
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2016-01-15
New York Stock Exchange-listed Xinyuan Real Estate Co., Ltd. says its U.S. arm has acquired a parcel of land in Midtown Manhattan for US$57.5 million, says a company announcement. The city block-front parcel, located on 10th Avenue and between 44th Street and 45th Street, has 200 feet of frontage on 10th Avenue and includes both […]
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2016-01-15
Hong Kong-headquartered Abax Global Capital, an Asian mid-market multi-strategy investment firm, has raised US$235 million for its second Asia special situations fund, according to someone with direct knowledge of the matter. The fund, which was closed in December, has a strong focus on the Chinese markets. Founded in 2007, Abax is led by chief executive […]
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2016-01-15
App Annie, a data tracker of the mobile app industry, has raised US$63 million in a new funding round led by Greenspring Associates, with participation from existing investors e.Ventures, Greycroft Partners, Institutional Venture Partners (IVP) and Sequoia Capital, says a company blog post. The new capital will be used to improve and expand product offerings, […]
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2016-01-15
Chinese real estate group Wanda signed a cooperation agreement with UK's International Hospitals Group Limited in Beijing to build three hospitals in China. Wanda Group will invest CNY15 billion to build three comprehensive international hospitals…
2016-01-15
The reformers will prevail, from Beijing to Tokyo, Delhi, Brussels, London and Washington, writes Lionel Barber
2016-01-15
There is an optimistic outlook in which the world’s reformers prevail, writes Lionel Barber
2016-01-15
Letv cloud, the cloud computing-based video open platform of Letv.com, announced that it reached a two-year global strategic cooperation with …