State-owned Assets Supervision and Administration Commission (Sasac) head Li Rongrong encouraged state-owned firms to list on the Hong Kong Stock Exchange Monday, state Media reported. Speaking in the wings of the 17th Communist Party Congress, Li added that many state-owned companies, especially those under the State Council's direct control, are increasingly turning to Hong Kong […]
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Alibaba to hold record tech IPO
Chinese e-commerce firm Alibaba has announced plans to raise up to US$1.33 billion in an initial public offering before listing on the Hong Kong Stock Exchange, according to the Wall Street Journal. The expected listing would be the largest ever by a Chinese technology firm. Yahoo, which currently owns 39% of Alibaba's parent company, Alibaba […]
The Shenzhen Stock Exchange has demanded that brokerages release information pertaining to any start-up firms that are looking to go public before it launches its new growth board, state media reported. The exchange also asked for suggestions about how it could make the new board successful and effective. The new fundraising platform comes after Chinese […]
China Reinsurance Group has completed a company restructuring, Xinhua reported (in Chinese). The new company, known as the China Reinsurance Group Company Ltd, was approved by the State Council and China Insurance Regulatory Commission and launched on Wednesday. The new shareholding company was co-founded by the Ministry of Finance (MOF) and the Central Huijin Investment […]
Barclays Capital will partner China Development Bank (CDB) to provide Chinese companies with risk management services in the energy, base metals and emissions sectors, the Financial Times reported. Barclays will train CDB commodities traders and bankers and will be its preferred provider of commodity market risk hedging. Barclays said the partnership would accelerate the bank's […]