China wants to sell a total of 100,000 domestically produced industrial robots every year and leap into the Top 10 of the world’s most intensively automated nations by 2020, says a Chinese official. Wang Ruixiang, president of the China Machinery Industry Federation, stated that the country’s target is to reach 150 industrial robots per 10,000 […]
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The Chinese government is considering new policies that could ban venture funds from investing in A-share listed companies, according to Chinese media reports citing a speech made by a senior securities regulator. Venture funds will be prohibited from investing in A-share listed companies, a field reserved for private equity investment entities, according to Liu Jianjun, […]
Chinese drug maker Jilin Zixin Pharmaceutical Industrial Co., Ltd. has agreed to invest US$42 million in Nabsys 2.0, a U.S. high definition genome mapping firm. Zixin Pharmaceutical plans to initially invest US$6 million or its RMB equivalent, then contribute around US$36 million or its RMB equivalent to acquire 67% of Nabsys 2.0, which means the […]
China’s sovereign wealth fund China Investment Corp (CIC) reported a dollar-denominated net return of negative 2.96% on its overseas investment last year, due to volatility in international financial markets and foreign exchange losses triggered by an appreciating U.S. dollar. The negative return drove its accumulated annualized investment return to 4.58% since inception in 2007 until […]
China’s largest ride sharing giant Didi Chuxing has denied rumors that the company and its key rival Uber China have any plans for a potential merger or alliance. In a statement, Stephen Zhu, vice president for strategy at Didi Chuxing, stated that the company “is ahead of our rival in every city we operate. We […]
Though deals to private artificial intelligence (AI) companies (excluding incubator and accelerator rounds) fell 10% during the second quarter to 121 transactions, aggregate funding value reached an all-time high of over US$1 billion, thanks to three mega-rounds including a US$154 million series A round in Shenzhen-based healthcare startup iCarbonX. The other two mega-rounds are a […]
After a US$1.24 billion takeover of Norwegian online browser firm Opera Software failed to obtain regulatory approval on time, a Chinese buyer consortium has agreed to take over Opera’s core consumer business for US$600 million. The buyer group, led by private-equity firm Golden Brick Capital Management Ltd., now plans to acquire Opera’s browser business, the […]
China inked 97 outbound M&A deals worth US$40.7 billion during the second quarter, 23% and 132% higher than the same period in 2015, according to a new report issued by Baker & McKenzie. The focus of China’s outbound investments was on technology and industrials. The former saw 15 deals worth US$17 billion, and the latter […]
A unit of China Resources Holdings has invested an undisclosed amount in Meituan-Dianping, the largest on-demand local services provider in China, according to a company announcement. The strategic investment will see the state-owned conglomerate to establish a strategic partnership with Meituan-Dianping, initially on projects that will combine China Resources’ retail assets with Meituan-Dianping’s online platforms. […]