Shenzhen-based China Merchants Fund Management Co. Ltd, a financial arm under China Merchants Bank Co. Ltd, has agreed to subscribe RMB420 million (US$67 million) convertible bonds of Hong Kong-listed solar power plant investor and operator United Photovoltaics Group Limited, according to a company announcement. Meanwhile, United Photovoltaics has also entered into joint agreements with Shenzhen […]

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Legal action highlights risks of unpaid debt cascading through financial system

Focus on growth has contributed to environmental degradation and urban sprawl

Chinese banks' reported at the end of last year that their non-performing loan (NPL) ratio jumped to 1.29%, but that number may grossly underestimated the real bad loans among Chinese lenders, and make some investors overlook the dangers of a potential financial crisis in China, says a research report by BofA Merrill Lynch Global Research. […]

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Beijing-based mobile game media platform MoFang has completed RMB100 million (US$16 million) series A financing led by Shenzhen Capital Group, according to a company announcement. Existing investor Matrix Partners also participated in this round of financing. Founded in February 2013, MoFang received RMB10 million angel investment from Matrix Partners last June. "The future strategic plan […]

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‘One Road, One Belt’ strategy targets poorer countries with infrastructure investment to create the need for Chinese products

Chinese telecom device maker ZTE recently revealed that the company achieved operating revenue of CNY81.242 billion in 2014 — a year-on-year increase of 7.99% — and its net profit attributable to shareholders reached a year-on-year increase of 94.17%. Meanwhile, the company reported that its operating profit was CNY104 million during the reporting period and its […]

Turning point highlights shifting power balance in smartphone market