The author is ANZ Greater China chief economist Li-Gang Liu The People’s Bank of China (PBOC) recently sealed new bilateral currency swap agreements with the Bank of England and European Central Bank. Following that, the U.K. and China Governments agreed to establish direct conversion of GBP and CNY. Such a development will equip Continental European […]

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Shanghai-based Chinese outdoor billboard technology company SolarVista Media says the company has competed its series B financing led by Nokia Growth Partners (NGP). Ease Management, existing investors including Northern Light Venture Capital, Tuspark Ventures and FnH also participated. The investment size was not disclosed. SolarVista Media says it will use the proceeds to roll out […]

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Beijing-based Chinese mobile game developer Chukong Technologies Inc. Co., Ltd. says the company has raised $50 million of series B financing. New Horizon Capital led the round. Northern Light Venture Capital, Steamboat Ventures, Sequoia Capital and GGV Capital also participated. Chukong says it will use the proceeds to expand its current line of business in […]

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With 90 days left to bridge the ideological and partisan divide before another crisis erupts, the fuse on America’s debt bomb is getting shorter and shorter. As a dysfunctional US government peers into the abyss, China – America’s largest foreign creditor – has much at stake.

The decision by Asia’s richest man to drop the ParknShop supermarket sale is part of wider adjustments of his portfolio that bear watching

Recent upswing in the local shipbuilding industry has raised hopes of an end to a five-year slump that has forced smaller Asian yards out of business

Chinese schools with British-sounding names have found immense popularity in a country that admires the British education system

Following Taobao.com's cooperation with FamilyMart in Taiwan, Alibaba's third-party Internet payment subsidiary Alipay.com has also announced plans to enter the Taiwanese market in 2014. Fan Zhiming, vice president of Alipay, said that once approved by Taiwanese regulators, Alipay will launch a big promotion to enter the Taiwanese market during the first half of 2014. Fan […]

Japan-based Mitsubishi Electric Corporation has established a company in Beijing to provide energy-system sales, engineering and related services. The new company is named Mitsubishi Electric Power & Electrical Infrastructure Systems (Beijing) Company Ltd., and it will start operating in December 2013. The company plans to open branches in Shanghai and Guangzhou. MEPIC, an offshoot of […]

SocialTouch, one of the many startups in China trying their hand at monitoring Chinese social media, has raised its latest round of investment. The company's Series C investment round was led by Sierra Ventures and included existing investors GGV Capital and Legend Capital. This new round of funding will be used for product development and […]

U.S. private equity firm TPG says it has signed a definitive agreement to acquire 12.15% of Phoenix Satellite Television Holdings Ltd. TPG will purchase the stake from 21st Century Fox's subsidiary, Star Entertainment Holdings. The details of the financial terms were not disclosed. Upon completion of the sale, 21st Century Fox will no longer hold […]

Visit ChinaMoneyNetwork.com for more great China Money Podcast audio and video Internet episodes covering important investment news and financial events in China, as well as daily news updates on important China business news happenings. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.

Scott Price, president and chief executive officer of Wal-Mart Asia, revealed at an investor meeting that the company plans to close 25 underperforming stores in China during 2014. Price further revealed that the sales of those 25 stores only accounted for 2.5% of Wal-Mart's total sales in China. A representative from Wal-Mart China said after […]

Chinese Web browser developer Maxthon formally launched a cloud browser product for the Windows Phone platform. Maxthon now covers the Mac, iOS, Android, Windows, and Windows Phone platforms. According to Maxthon, the company will cooperate with MTK's Rolltech for pre-installation; and it will also work with Lenovo for PCs sold in Europe and South America. […]