The Chinese programme of island reclamation is testing America’s reach
2015-06-10
The Chinese government has allocated another RMB1 trillion (US$160 million) local government debt swap quota, after a similar move in March. The debt swap program allows local governments to issue bonds to refinance debt that was issued through local government financing vehicles, and this latest move increases the total quota for this program to RMB2 […]
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2015-06-10
After a strong start to the year, with the MSCI China Index up 20.4% in U.S. dollar terms year-to-date, the recent pull-back in the market is an attractive opportunity for participation in China’s long-term growth story at a lower entry point, says Baring Asset Management in a report. The Chinese government’s on-going emphasis on reform […]
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2015-06-10
Hong Kong-headquartered Luqa Pharmaceuticals, a dermatology and other specialty company, has completed US$15 million new round of fund raising led by Morningside Ventures, according to a company announcement. Proceeds will be used to expand, develop and fund on-going operations and commercialization of Luqa's product range. Since the launch of its first product in 2013, Luqa […]
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2015-06-10
Shenzhen-based Chinese sports lottery firm 500.com Limited says that Chinese technology conglomerate Tsinghua Unigroup Co., Ltd. has agreed to invest approximately US$123.8 million in exchange of a 15.2% stake of the company, according to a company announcement. Tsinghua Unigroup, majority owned by Tsinghua Holdings Co., Ltd. which is 100% owned by Tsinghua University, will purchase […]
Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in China. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.
2015-06-10
This week’s G-7 meeting at Schloss Elmau in the Bavarian Alps marked a major breakthrough in climate-change policy. The seven largest high-income economies made the revolutionary decision to end their economies' dependence on fossil fuels during this century.
2015-06-10
New York Stock Exchange-listed real estate services firm E-House (China) Holdings Limited has received a non-binding proposal from two of its executives and board members to take the company private for US$7.38 per American Depository Share (ADS), according to a company announcement. Xin Zhou, co-chairman of the board and chief executive officer of E-House, and […]
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2015-06-10
London-headquartered private equity firm Apax Partners has agreed to sell Chinese high-end restaurant chain Golden Jaguar to Hong Kong-listed Carnival Group International Holdings for HK$253.4 million ($33 million), according to a regulatory filing. Apax Partners acquired the buffet-style restaurant chains in 2011, reportedly for US$250 million. Due to China's anti-corruption campaign and the company's own […]
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2015-06-10
Shanghai-listed Bright Dairy & Food Co., Ltd. plans to sell approximately 559 million shares at RMB16.10 apiece to raise RMB9 billion (US$1.45 billion) in a private placement deal to introduce strategic partners and to finance acquisitions, according to a regulatory filing. Six institutional investor, including Hony Capital, CITIC Goldstone and SAIC Motor Corp’s investment unit […]
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2015-06-10
Kingston Technology Company Inc. is selling one of its technology subsidiaries to a Chinese firm. Kingston's fully-owned subsidiary, Payton Shenzhen Company Ltd., will be acquired by Shenzhen Kaifa Technology Company Ltd. for an undisclosed sum. Kaifa will assume a 100% equity stake in Payton. The agreement and transfer of equity will be complete once all […]
2015-06-10
Cyber attack on government employees attributed to Beijing