Chinese group-buying platform Pinduoduo is hoping to raise $1.63 billion by issuing over 85 million US depositary shares on the Nasdaq, reports Caixin. Upper estimates expect the company to raise $1.87 billion in the IPO. Shares will be priced between $16 and $19, according to the company. Pinduoduo is China’s third largest e-commerce brand by […]
Category: Brief
Chinese Premier Li Keqiang took on an inclusive and reconciliatory tone during his meeting with EU leaders in Beijing on Monday, Reuters reports, calling on China, Europe, the US and Russia to move forward together in upholding the international trade system. “Leaving behind any other country – let’s not even talk about leaving behind the […]
Official economic data for the month of June provided further evidence that China is due to experience a slowdown in the second half of 2018, with GDP growth slowing to 6.7% year-on-year (y/y) in the second quarter – a seven-quarter-low. The growth figure comes in line with the market estimate provided by a Bloomberg survey of analysts […]
Investment in China’s property market grew at its slowest rate in six months in June, according to official data released on Monday, with developers struggling with fewer financing channels and new purchases also weakening. Growth in real estate investment fell to 8.4% year-on-year last month, from 9.8% y/y in May. New construction, measured in terms […]
In a rare display of dissent from the government’s policy direction, a chief researcher for China’s central bank criticised the country’s fiscal policy as a means of bolstering economic growth, at a time when Beijing is trying to balance a slowing economy with strict deleveraging. Xu Zhong, director-general of the research bureau of the People’s […]