Chinese official media firm Xinhuanet.com plans to raise RMB1.5 billion (US$216 million) in an A-share initial pubic offering. Its IPO application will be examined by the securities regulator this Wednesday. Xinhuanet.com plans to issue 51.9 million new shares and list on the Shanghai Stock Exchange, with proceeds from the IPO earmarked to strengthen its mobile […]
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China Securities Regulatory Commission (CSRC) has been tasked to draft a new regulation to oversee the domestic private investment fund industry, the country’s State Council said in an announcement. The proposed new law is listed as among dozens of urgent projects that need to be completed on a priority basis, according to a statement posted […]
China reported solid export data, with exports in RMB terms grew 18.7% year-on-year in March, up from a 20.6% contraction in February, beating market expectations of a 14.9% gain. But the figure needs to be interpreted with caution as the distortions in February and March often cause wild swings of the exports growth figures, ANZ […]
Greater China-focused hedge fund managers posted gains in March and were up 4.69%, as fresh stimulus came out of China at the beginning of the month injecting more liquidity into the Chinese economy, according to preliminary numbers released by Eurekahedge. The gains follow two months of declines suffered by Chinese hedge funds, with performance down […]
Chinese e-commerce giant Alibaba Group Holding Ltd. has agreed to buy a controlling stake in Southeast Asian online retailer Lazada for approximately US$1 billion to accelerate expansion into the region. Alibaba will buy around US$500 million newly issued shares of Lazada and acquire shares from existing shareholders including Germany’s Rocket Internet and British supermarket giant […]
Chinese investment in Australia has returned to positive growth, rising very strongly with a record number of deals and a 32.9% year-on-year growth in total deal value to US$11.1 billion for the year, according to KPMG. Seven mega transactions worth AU$500 million or more helped propel the growth to mark the second highest inflow year […]
As China’s capital outflows stabilizes, UBS AG says it will maintain its current USD/CNY forecast of 6.8 by year end, but sees increasing risk that the CNY may not depreciate by as much against the U.S. dollar and may end the year at 6.6 to 6.7. Capital outflow and depreciation pressures have let up visibly […]
China’s foreign exchange reserves rose by US$10 billion in March to US$3.213 trillion, higher than the US$6 billion decrease expected by the market. But the good number may belie bigger concerns underneath, says a research report by BofA Merrill Lynch Global Research. Market reaction to the news was limited as the magnitude of the surprise […]
China is reportedly considering merging several financial supervisory bodies with its central bank, in line with global trend and may help the country better manage financial systemic risks, according to a research report by ANZ AG. The proposal to merge the country’s banking, insurance and securities regulatory entities with the People’s Bank of China will […]
Faced with a challenging investment environment, central banks, sovereign wealth funds (SWFs) and government pensions are adapting their investment models to be more agile, according to a new research report by State Street Corporation. After surveying over 100 central banks, sovereign wealth funds and government pensions globally, State Street says these official institutions are diversifying […]