Greater China hedge funds dropped by 1.44% in May, with losses of 5.73% on a year-to-date basis, outperforming the CSI 300 Index that has declined 15.05% as of May 2016, says Eurekahedge. It has been tough for hedge funds this year. Around 48% of managers were in the red this year, compared to 20% of […]
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Everyday at China Money Network, we monitor where smart money including private equity and venture capital is investing in the country. But reading the following news made we wonder if some venture capitalists have completely lost their minds? The founder of so-called knowledge sharing mobile app Zaihang and its new Wechat-based product Fenda announced via […]
China’s export growth in U.S. dollar terms declined 4.1% year-on-year in May, compared to -1.8% in April, largely in line with market expectations. Imports growth in U.S. dollar terms picked up to a slight decrease of 0.4% year-on-year from -10.9% in April, much stronger than expected. The export numbers provide little indication of external demand […]
China will give a RMB250 billion (US$38 billion) investment quota to the U.S. under the Renminbi Qualified Foreign Institutional Investor (RQFII) scheme, the largest after Hong Kong, paving the way to finally broaden the use of the Chinese currency in the world’s largest economy. Chinese central bank vice governor Yi Gang announced the first such […]
The eighth China-US Strategic and Economic Dialogue (SED), the flagship dialogue started in 2009 to facilitate cooperation between the two largest economies in the world, will likely focus on bilateral investment treaty, China’s excess capacity and the RMB exchange rate scheme, says a research note by Mizuho Securities Asia Ltd. This year, the China delegation […]
China Renaissance has hired ex-Bank of America Merrill Lynch executive Xia Yang as managing director and global head of equities, based in its Hong Kong office, says a company announcement. In this role, Xia will lead the Chinese investment bank’s equities and research teams globally and report to Bao Fan, chairman and group chief executive […]
China’s state pension manager, the National Council for Social Security Fund (NCSSF), says it achieved annual return of 15.2% in 2015. Its average internal rate of return for the past 15 years since its establishment was 8.82%, compared to inflation rate of 2.35% during the same period. In an announcement, the NCSSF says its total […]
China’s securities regulator has approved resignation applications by a number of top officials, continuing a talent flight that has seen department heads opting to work in the industry, according to Caixin Media citing insiders familiar with the matter. The China Securities Regulatory Commission (CSRC) has lost many top talent at a time when it is […]
Going to industry conferences has been part of my job as a financial journalist. My calendar is highlighted by a few personal favorites: January’s World Economic Forum in Davos, April’s Berkshire Hathaway’s annual meeting in Omaha. Then, there is the Sohn Conference Hong Kong in June. But after writing about the stock picks shared by […]
The pace of Chinese companies’ initial public offerings continues to slow down in May, with a total of 18 companies having raised an aggregate of RMB8.2 billion (US$1.2 billion) in the month, compared to 23 companies raising RMB6.4 billion the month before, according to data released by ChinaVenture. The number of IPOs and the aggregate […]