New York Stock Exchange-listed Chinese Craigslist-like platform 58.com Inc. has committed 46.5 million newly issued ordinary shares and US$272 million in cash to several unnamed Chinese private equity funds as a limited partner, according to a company announcement. Based on the company's closing price of US$57.02 on the day of the announcement, the share portion […]

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China's exports declined 8.9% year-on-year in July, compared with a 2.1% gain in June. The number came in way below market expectations of a 0.3% contraction. Imports fell 8.6% year-on-year in July, from a 6.7% decline in the previous month, as commodity prices continued to weigh on imports growth. It resulted in a trade surplus […]

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The Carlyle Group has teamed up with Beijing-based conglomerate Huo's Group to acquire a 75% stake in Tongyi Lubricants from Royal Dutch Shell plc for an undisclosed amount, according to a company announcement. The deal, expected to complete by late 2015 or early 2016, signals the end of a joint venture partnership between Shell and […]

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