China Business Blog - Aggregated China Business Blogs
Aggregated China Business Blogs

China’s official PMI, the bellwether of large industrial firms, declined to 50.3 in November, below market consensus of 50.5 and down from 50.8 in the previous month, according to data released by China’s National Bureau of Statistics. The output sub-index dropped by 0.6 percentage points to 52.5%, and the new order sub-index fell by 0.7 […]

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The recent decision by the Bank of Japan to increase the scope of its quantitative easing is a signal that another round of currency wars may be under way. The cause of the latest currency turmoil is clear: In an environment of public and private delev…

Chinese brokerage firm Haitong International Securities Group Limited and an undisclosed third party investor have agreed to acquire TPG Capital's stake in Shanghai-based car dealership China Grand Automotive Services Co., Ltd., according to a regulatory filing submitted by Haitong Securities. A unit of Haitong International is to invest HK$2.1 billion (US$270 million) to take a […]

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Alibaba, Tencent founders invest in private placement by China’s second-largest insurer

Canada-based financial services group Manulife has appointed Roy Gori as president and chief executive officer of Manulife Asia based in Hong Kong, effective March 1, 2015, according to a company announcement. Gori will report directly to Manulife president and chief executive officer, Donald A. Guloien, and will become a member of the company's executive committee. […]

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Hong Kong-listed Chinese property developer China Aoyuan Property Group Limited says that Huaxia Life Insurance Co., Ltd. has injected RMB1 billion (US$160 million) in one of its its subsidiaries for a significant minority stake, according to a company announcement. The wholly owned subsidiary, Guangzhou Aoyu Real Estate Development Company Limited, will be 54% and 46% […]

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Chinese president emphasises ‘win-win co-operation’ in major address

Campaign group says Chinese group will decimate local stores if it avoids sales levy

The world's leading sports supplies retailer Decathlon revealed that the company currently has 100 stores in China and they plan to increase the number to 500 within five years. Decathlon has been accelerating its expansion in the Chinese market since 2009. By store expansion, the company opened ten new stores in 2010, 16 new stores […]

Beijing-based Chinese mobile social instant message app developer Momo Inc., backed by a long list of venture capital and private equity firms, has priced its NASDAQ IPO, hoping to raise as much as US$256 million, according to an updated regulatory filing. Momo says it is to issue 16 million American Depositary Shares (ADS) at the […]

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Fujian province-based shoe O2O (online-to-offline) platform Wanxie Cloud Mall has received RMB120 million (US$19.5 million) angel investment from Shenzhen-based home furnishing firm Bofu Group, according to Wanxie Cloud Mall's official Weibo account. Launched in June this year, Wanxie Cloud Mall provides e-commerce platforms and offline shoe stores to help consumers purchase shoes in a more […]

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Shenzhen-based Ping An Insurance Group Co of China Ltd., the country's second-largest insurer, has raised HK$36.8 billion (US$4.75 billion) in a private placement of its H-shares in the largest private placement deal ever in Hong Kong, according to a regulatory filing. Ping An Insurance issued 594.056 million new H-shares at HK$62 per share to between […]

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China's State Council announced a draft plan yesterday to establish a national deposit insurance program, in another major step toward liberalizing the country's interest rates, according to a posting on the State Council's official website. The proposed deposit insurance program, which is expected to be launched in the second quarter next year, will follow practices […]

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Hangzhou-based Chinese personal finance bookkeeping and management app maker Wacai has received US$50 million series B financing led by China Broadband Capital and China International Capital Corporation (CICC), according to its official Weibo account. Existing investors IDC Capital, CDH Investments and Qiming Venture Partners also participated. Founded in 2009, Wacai received angel investment of nearly […]

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Dalian city, Liaoning province-based Chinese international school operator China Maple Leaf Educational Systems Limited (MLES), backed by Sequoia Capital, has completed an IPO on the Hong Kong Stock Exchange, raising a total of HK$961.9 million (US$124 million), according to a regulatory filing. The company issued 334 million shares at HK$2.88 per share, and was 195 […]

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Chengdu City, Sichuan province-based apartment rental platform Uoko.com has received US$22 million series B financing from Matrix Partners, SIG Asia, and Legend Capital, according to the company's official Weibo account. Founded in 2012, Uoko.com received RMB3 million angel investment from Ferry Venture Capital and US$4 million series A from Legend Capital in 2013. Uoko.com focuses […]

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Dozens hospitalised after running clashes between protesters and police

With a weak official purchasing managers index (PMI) reading in November, China is likely to intensify easing efforts in December to accelerate growth momentum, says a research report by the Australia and New Zealand Banking Group Limited (ANZ). China’s official PMI, the bellwether of large industrial firms, declined further to 50.3 in November, pointing to […]

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