Singapore's Oversea-Chinese Banking Corp. Ltd. recently launched a $100 million private equity fund to invest in onshore Chinese companies over the next five years. The said fund will managed by OCBC Capital Equity Investment Management Co. based in Shanghai.
China
CSOP Asset Management, Source launch first London-listed renminbi qualified foreign institutional investor exchange traded fund
The first renminbi qualified foreign institutional investor exchange traded fund or RQFII ETF listed in the London Stock Exchange was launched by Hong Kong-based CSOP Asset Management and London-based Source, Reuters reported.
Tencent invests in Chinese taxi app Didi
Tencent Holdings Ltd, the biggest Internet firm in Asia, invested an unconfirmed amount in China-based cab booking app Didi Taxi to promote its payment service to mobile web users.
China's Qihoo 360 denies rumors of Alibaba stake purchase
Qihoo 360 Techology Co., China's second-largest search engine by users, on Thursday dismissed rumors that e-commerce major Alibaba Group Holding would pick up a stake in the company. Qihoo shares surged 9.3% on Wednesday on speculation the two companies were in talks over a deal.
Wanxiang sweetens bid for US car maker Fisker in battle with Hybrid
China-based car parts conglomerate Wanxiang has sweetened its bid for failed US electric car maker Fisker Automotive in a battle with its rival suitor, Hong Kong-based firm Hybrid Technology.
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As the Chinese government plans to consolidate production, Anhui Conch Cement Co said it plans to increase its capacity to 30 million metric tons through acquisitions, Bloomberg reported.
As China's central bank makes regulations regarding digital currencies stricter, Alibaba Group Holding will be banning the sale of Bitcoin and other related products, Bloomberg reported.
Chinese billionaire Chen Guangbiao has dialed back his bid to acquire The New York Times Co. over a week after making his interest public, saying that the level of difficulty is great. Times chairman Arthur Ochs Sulzberger Jr. recently said that the prestigious media company is not for sale.
Oil and gas companies in the West, like that of Scotland-based Weir Group, are heading to China to bet on the birth of the country's shale gas industry, the Financial Times reported.
Bourbon, a Paris-based operator of supply and crew ships for the oil industry, sold a dozen vessels to China's ICBC Financial Leasing as part of its plan to make a dent on its debt, Bloomberg reported.
Alipay, an online payment affiliate of Alibaba Group Holdings Ltd., has struck a deal with Sina Corp. to launch and online payment service as competition rises between Alibaba and rival Tencent Holdings Ltd. Alibaba last year bought an 18% stake in Sina Weibo.
China's State Council has suspended the ban the government had put in place for 14 years which barred the selling of foreign video game consoles, potentially opening doors for technology firms to enter the Chinese video game market, Reuters reported.
China's state-owned Greenland Holding Group will invest £1.2 billion ($2 billion) on two property projects located in Wandsworth and Canary Wharf in London. The real estate developer is also looking to enter Canada, France and Singapore this year.
Citing a copy it obtained of Document 107, Reuters reported that the State Council of China has published guidelines that aim to fortify regulation against the risky practice of shadow banking.
