Standard Chartered Private Equity (SCPE) and Tiger Group Investments, a Hong Kong-based private investment firm focused on investing in the maritime sector, agreed to jointly invest US$95 million in Shanghai-based Greathorse Chemical Ltd., according to a joint announcement. Other unnamed financial investors are investing an additional US65 million in Greathorse Chemical, says the statement, making […]

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China's second largest state-owned oil company, China Petroleum & Chemical Corp. (Sinopec Corp.) says one of its subsidiaries has sold 29.99% of itself to 25 privileged domestic and foreign investors for RMB107.1 billion (US$17 billion), according to a regulatory filing. As part of China's effort to bring private capital to diversify its state-owned enterprises, the […]

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Primary school voting is to teach pupils virtues such as responsibility, scholastic involvement and how to compete with others in a civilised way

Chinese conglomerate Fosun International has launched a last-minute counter offer for Club Méditerranée last Friday, offering to acquire the French holiday firm at €22 per share, outbidding an earlier proposal, according to a company announcement made by Fosun. The new deal, which values the vacation group at €839 million (US$1.1 billion), has the backing of […]

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Beijing-based car rental service provider Yongche has received an undisclosed series D round of financing, led by Singapore sovereign wealth fund GIC Private Limited, according to Chinese media reports. Several unnamed investors also participated in the round. The investment is reported to total as much as US$100 million. Last December, Yongche received US$60 million series […]

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After the third Israeli war on Gaza in less than six years, many Palestinians are questioning the purpose of continuing to fight – and hoping for a solution that does not increase their suffering. Can Hamas, with its newly acquired position at the forefront of Palestinian politics, provide such a solution?

In this episode of China Money Podcast, guest Zennon Kapron, founder and managing director of Shanghai-based market research firm Kapronasia, talked with our host Nina Xiang about his new Bitcoin book, Bitcoin's history in China, why the virtual currency became a speculative fad and its spectacular fall from the peak, and what he sees as […]

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Premature departure of Dai Haibo underlines concerns about the FTZ after scant progress on loosening capital controls or liberalising interest rates

Beijing-based social networking platform for Chinese individual investors, XueQiu.com, has completed US$40 million series C financing led by New York Stock Exchange-listed Chinese social networking firm Renren.com, according to Chinese media reports. Morningside Ventures also participated. Launched in late 2011, Xueqiu.com received RMB20 million (US$3.26 million) series A round from Sequoia Capital that year. It […]

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Beijing-based business-to-business e-commerce platform DHgate.com has received an undisclosed series D round of financing from Chinese venture capital firms China Growth Capital and TDF Capital, according to a company announcement. DHgate.com, an e-commerce platform focused on connecting China-based small and medium enterprises with buyers overseas, says the latest investment amount to several hundred million RMB […]

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Poll shows almost half of Hongkongers believe pan-Democrat politicians should veto Chinese plans for territory’s democracy

Standard Chartered Private Equity (SCPE) has acquired a significant minority stake of Vietnam-based restaurant chain Golden Gate Restaurant Group for US$35 million from Vietnam-focused private equity firm Mekong Capital, according to a company announcement. Through the investment, Mekong Capital has made a full exit from Golden Gate, with a net return multiple of 9.1 times.   […]

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Data for new RMB loan in August turned in line with expectations, reaching RMB703 billion, though RMB10 billion less over one year earlier, according to data released by the People’s Bank of China. China’s broadest measure of money supply, M2 growth data was 12.8%, as announced by China's Premier Li Keqiang during the summer Davos […]

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Chinese search engine company Baidu announced that Zhang Yaqin, former president of Microsoft Asia Pacific Research and Develop Group, officially joined Baidu as president responsible for leading emerging businesses. Before joining Baidu, Zhang was Microsoft's global senior vice president and Asia-Pacific Research and Development Group president, leading Microsoft's comprehensive scientific research and product development in […]