A somewhat negative statement from China’s antitrust regulator has cast doubt on the viability of Qualcomm’s $44 billion buyout of NXP Semiconductors, following the US firm’s second refiling of their application. A spokesman for the Chinese Commerce Ministry, Gao Feng, said that a review of the application found “related issues that are hard to resolve, […]
Category: Brief
More detailed data on China’s first quarter economic performance show that the 6.8% growth rate, which beat estimates and outstrips the government’s annual target of 6.5%, was driven by accelerating construction and manufacturing sectors. Together, the two sectors grew 6.3% year-on-year (y/y), from a 5.7% rate in Q4 2018, making up 39% of the first […]
Shares of major Chinese carmakers faltered during yesterday’s trading in response to the government’s announcement to remove foreign ownership caps on domestic production, the Financial Times reports, as markets question the ability of China’s firms to go it alone. Hong-Kong listed Guangzhou Automobile Group (GAC) finished down 10%, whereas Shanghai’s SAIC Motor Corp., known as […]
Debt-stressed Chinese conglomerate HNA Group has continued its fire-sale of its assets this week by selling off its holdings in a Hong Kong-listed bank based in Guangzhou for $191 million, Caixin Global reports. Aerial Wonder Co, a unit of HNA, sold its 295 million shares in Guangzhou Rural Commercial Bank in two batches over the past week, […]
The chief of one of China’s state asset management firms, Huarong, has been placed under investigation by the Communist party’s anti-graft agency, the South China Morning Post reports this morning, though details of any allegations have not been made public. Lai Xiaomin, Huarong CEO and previous PBOC economist, has been accused of “serious discipline violations”, […]