A long-running dispute between the U.S. and China over the ability to vet auditors of Chinese companies listed on American exchanges could be edging toward a breakthrough, The Wall Street Journal reports. Two big U.S.-listed Chinese companies— Alibaba Group Holding Ltd.and Baidu Inc.—and their outside auditors are preparing for audit inspections by officials from the […]
Category: Business Practice
With investment opportunities sparse amid the country’s weakest economic expansion in a quarter century, Chinese firms reported an 18% jump in cash holdings during their latest quarter, the biggest increase in six years. The $1.2 trillion stockpile – which excludes banks and brokerages – grew at a faster pace than in the U.S., Europe and […]
China’s Dalian Wanda Commercial Properties Co Ltd said on Monday one of its largest shareholders intends to approve the developer’s Hong Kong delisting proposal, Reuters reports. In a stock exchange filing, Wanda Commercial said China Life Insurance Co Ltd – which owns around 7.4% of its Hong Kong shares – has sent a letter of […]
Chinese real estate and entertainment conglomerate Dalian Wanda Group has held talks with Viacom Inc about acquiring a minority stake in its Paramount Pictures unit, according to Reuters. Wanda’s interest adds new urgency to deliberations over Paramount’s future, which has become the flashpoint of a bitter row between Viacom Chief Executive Philippe Dauman and the […]
The chairman of HNA group, the acquisitive Chinese conglomerate, is looking to do more deals because he is confident about the growth of tourism in spite of the country’s economic slowdown. “Of course!” Chen Feng said when asked in an interview with the Financial Times whether mergers and acquisitions will continue. HNA owns Hainan Airlines, […]