Ping An Insurance (601318.SH, 2318.HK), China’s largest insurer by market capitalization, announced that it will invest an additional US$3.1 billion to raise its stake in Shenzhen Development Bank (000001.SZ), the Wall Street Journal reported. The move comes as Ping An reported a 33% increase in its first-half net profit, mainly due to the strength of […]
Category: Investment
China Vice Premier Li Keqiang unveiled plans to expand the development of Hong Kong’s renminbi-denominated asset market during a visit to the island yesterday, Reuters reported. Li said foreigners will “soon” be able to buy up to US$3.1 billion worth of renminbi-denominated stocks and bonds on the mainland with renminbi. He also said that Beijing […]
Foreign direct investment in China rose 19.8% year-on-year in July as economies in Europe and the US exhibited continuing weakness, the South China Morning Post reported. According to statistics from the Ministry of Commerce (MofCom), July FDI totaled US$8.3 billion, and inbound investment over the first seven months of the year totalled US$69.2 billion, up […]
China’s Bright Food Group is close to acquiring approximately 75% of Manassen Foods Australia in what would be one of the largest overseas acquisitions yet by a Chinese food company, the Wall Street Journal reported. The state-owned dairy, packaged snacks and confectionary maker plans to buy the stake from Sydney-based Champ Private Equity in a […]
China increased its holdings of US government debt by 0.5% to US$1.17 trillion in June, the third monthly increase in a row, even as other foreign investors shed their exposure to US Treasuries, Bloomberg reported. China’s larger purchases may have been driven by the country’s expanding trade surplus, which reached a two-year high of US$31.5 billion. […]