Investment management company China Southern Fund Management raised US$6.6 billion for an overseas equity fund Wednesday, becoming the country's first fund to invest in overseas equities, the Financial Times reported. The fund is part of government plans for Chinese investors to put money into international markets. Analysts predict individual overseas investments for mainland Chinese could […]
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SFE to trade gold futures
China Securities Regulatory Commission (CSRC) has given approval to the Shanghai Futures Exchange (SFE) to trade gold futures, Xinhua reported (in Chinese). This will be the fourth new futures product approved by CSRC after zinc, colza oil (a type of vegetable oil) and polyethylene in the year of 2007. SFE has finished basic preparation and […]
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CCB confirms domestic IPO plan
China Construction Bank confirmed on Tuesday that it would be launching what is likely to be the mainland's largest ever initial public offering, raising up to US$7.8 billion. The bank, China's second largest by assets, said it was consulting institutional investors on pricing the offer, the South China Morning Post reported. It will issue as […]
Beijing-based commercial property developer Soho China plans to raise around US$1 billion through an initial public offering in Hong Kong in October, the Wall Street Journal reported. According to documents seen by the newspaper, up to a third of the company will go public, with the funds raised earmarked for project development and general working […]
The Ministry of Finance will issue a second tranche of special treasury bonds worth US$26.7 billion to finance the country's foreign exchange reserves investment firm, state media reported. The bonds will eventually be sold by the central bank to the public, with maturities of more than 10 years. Bonds from the first tranche will be […]