In light of a new corruption probe among high-level Chinese government officials, a U.S.-based law firm says it is now investigating securities claims against PetroChina Company Ltd. Greater China media are reporting on a corruption probe into former security chief and mainland China Politburo Standing Committee member Zhou Yongkang. The proble will reportedly cover Zhou's […]
Quartz reports: In China, home to the world’s largest (and mostly empty) mall, the boom is leading to such a high vacancy rate that many malls have not only been waiving rent, but actually paying retailers like H&M and Zara…
New risk for multinationals operating in China with local partners emerges with increasing opposition to Indian Apollo to buy Cooper Tire
Hermès, Ferragamo and Brunello Cucinelli post strong sales, shrugging off concerns about the effects of slower economic expansion in China
U.S.-based NCR Corporation says it has sold 240 new point-of-sale terminals to four major shopping malls in China. Those four shopping malls are Beijing Baishang Life Mall, Chengdu Global Shopping Mall Ocean Amusement Park, Chengde Golden Dragon Royal Shopping Mall and Baoding Ginza Mall. The malls in Beijing, Chengdu, Chengde and Baoding are partnering with […]
The authors are IMF's Tamim Bayoumi and Franziska Ohnsorge. The views below do not represent the views of the IMF China’s 12th Five-Year Plan pledges to accelerate capital account liberalization. This would be a major event in the global financial architecture. Despite steps to ease restrictions and some circumvention over the past decade, much of […]
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Yihaodian.com, a Chinese B2C e-commerce website and Internet retailing subsidiary of Wal-Mart, announced a new mobile phone strategy. Wei Huazhen, vice president of Yihaodian.com, said during the company's latest press conference that the company will attach more importance to the mobile phone sector. Based on its "D50" pricing strategy, the company will continue to expand […]
Lenders take big losses on non-performing loans as slowing economic growth and overcapacity in some industries put pressure on struggling borrowers
For two decades, as one Asian economy after another boomed, Japan’s economy remained virtually stagnant. Now, with Asia’s two giants, China and India, slowing down – and perhaps impeding economic performance in much of the rest of Asia – Japan is recording its strongest growth since the 1980’s.
TV confession of British fraud investigator Peter Humphrey raises questions about what forensic accountants can and cannot do in China
Nanjing, Jiangsu Province-based Simcere Pharmaceutical Group says it has entered into a definitive agreement for a management buyout led by its founder Ren Jinsheng for around $490 million. The buyer is a consortium headed by Simcere's founder Ren Jinsheng. Simcere's current CEO Liu Hongquan and Beijing-based private equity firm Hony Capital are also participating in […]
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Private equity giant The Carlyle Group and The Townsend Group announced a strategic partnership with Shanghai Yupei Group, one of the largest logistics warehouse developers in China. The three parties plan to invest in 17 modern warehouses in China. Carlyle and Townsend will commit approximately $200 million to acquire equity interests in five warehouses owned […]
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China's e-commerce market is expected to overshadow that of the United States this year to become the world's largest, according to a report released by Bain & Company. China's e-commerce market has grown at an average rate of 71% from 2009 to 2012. The total size of the market is expected to reach RMB3.3 trillion […]
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China's State Council says the country will further expand a pilot program to develop its asset-backed securities market. The People's Bank of China says the expansion will be based on strict risk control measures. China's central bank started the experiment to develop the asset-backed securities pilot program in 2005. Between 2005 and 2008, 11 Chinese […]
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Hugo Barra, the vice president for Android product management at Google, has taken a new job at China-based smartphone maker Xiaomi. Foreign media have reported extensively over the past day that Barra's departure from Google is a dark omen for the search engine, but a boon for the Chinese startup Xiaomi, which values itself at […]
Qiming Venture Partners has invested in Cachejoy in the company's series B financing, according to Chinese media reports. The details of the investment was not disclosed. Founded in 2011, Beijing-based Cachejoy is a Chinese mobile gaming developer founded by former vice president at Kingsoft Games, Yong Zhu. Previously, Cachejoy received investment from Innovation Works, an […]
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Beijing-based Miao Pai Video says the company has completed series B financing. The round amounts to $25 million. Chinese online portal Sina.com led the investment. Redpoint Ventures and Morningside Ventures also participated in the round. Founded in 2011, Miao Pai Video is also named Pai Ke and Yi Xia Video. The company produces a mobile […]
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CHE reports: Around two-thirds of China’s top research universities still have policies that can be used to limit the proportion of women students, despite tighter government regulations issued this year against gender discrimination in universities and the workplace. In some…