State-owned China Overseas Land & Investment has announced it will purchase residential property assets from 25 cities across China from state-run conglomerate Citic for RMB31 billion (US$4.8 billion), Bloomberg reported, citing a statement to the Hong Kong Stock Exchange. China Overseas will sell 1.1 billion shares at HK$27.13 (US$3.50) apiece to the Citic companies concerned […]
Category: Banking & Finance
Mainland insurance firm Anbang has agreed to purchase US luxury hotel owner Strategic Hotels & Resorts from private equity group Blackstone for US$6.5 billion, The Financial Times reported, an unnamed source. Anbang bought the famous Waldorf Astoria from Blackstone for nearly US$2 billion in late 2014. The latest deal with the well-connected Anbang – founded […]
Government-backed venture capital funds in China raised roughly RMB1.5 trillion (US$231 billion) in 2015, bringing the total under management to RMB2.2 trillion, Bloomberg reported, citing data compiled by consultancy Zero2IPO Group. Consultancy firm Preqin said the pool of money – housed in 780 government guidance funds whose capital comes from tax revenue or state-backed loans […]
Hong Kong’s Securities and Futures Commission is developing policies and data protection for a new system of required identification codes that will enable it to identify the investors behind trades being made in real time, Bloomberg reported, citing Keith Lui, the agency’s executive director for market supervision. At present the commission can monitory live trading […]
The latest round of funding for Ant Financial Services Group, the financial-services affiliate of Alibaba Group Holding, valued the company at more than US$50 billion, The Wall Street Journal reported, citing unnamed sources. Ant Financial was said to be undertaking a funding round from new and existing investors that could total up to RMB20 billion […]