China has launched a trial program that will allow foreign companies to invest Chinese currency raised offshore back into the mainland, the latest step in the country’s gradual progress toward opening its rigid capital account, Dow Jones Newswires reported. On a case-by-case basis, foreign companies will be allowed to use renminbi raised offshore to set […]
Category: Investment
Hedge-fund firm Paulson & Co, the largest shareholder in Sino-Forest Corporation (TRE.TSE), has disposed of its entire stake in the company following reports that the Chinese tree-plantation owner overstated the value of its holdings, Bloomberg reported. In a regulatory filing, Paulson & Co reported selling 34.7 million shares in Sino-Forest. The Chinese company has seen […]
Harbin Electric (HRBN.NASDAQ), an electric motor company, has denied a report by short-seller firm Citron Research that questioned the chief executive’s proposal to take the company private, saying the allegations contained “factual errors” and “out-of-context information,” the Wall Street Journal reported. Tianfu Yang, the chief executive of Harbin Electric, and Abax Global Capital, which collectively […]
Chinese software maker Xunlei has published detailed plans to launch an initial public offering (IPO) of up to US$200 million worth of American depositary shares on the NASDAQ Global Select Market under the symbol XNET, Dow Jones reported. Xunlei is seeking to raise cash to acquire content and build data centers; it also wants to […]
The last two days have been fractious ones for a swathe of Chinese institutions, and in most cases China has been on the losing side of the argument. First, the US Trade Representative’s office had itself a nice public gloat, announcing that China has knuckled under to its demands that it cease subsidizing domestic wind-power […]