People's Bank of China governor Zhou Xiaochuan said Sunday that the bank will remove controls on foreign currency purchases and remittance procedures to allow companies to use their own funds to invest outside the mainland, Bloomberg reported. "Financial institutions are playing an important role in supporting overseas investments, but it is still not enough," Zhou said. […]
Category: Investment
Rosetta Stone Capital, a private equity firm founded by former Morgan Stanley Asia chief economist Andy Xie, has made its first investment, in the overseas-listed arm of a Chinese state-owned company, Economic Observer reported (in Chinese). Rosetta Stone invested in the NASDAQ-listed China Natural Resources. Asked why he chose to invest in the US as opposed […]
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China encourages Caribbean investments
China plans to provide US$530 million in low-interest loans to Chinese companies over the span of three years to invest in Caribbean countries, state media reported. At the ongoing second China-Caribbean trade and economic cooperation forum held in Fujian province, Vice Premier Wu Yi said China will also help train 2,000 government officials and professionals […]
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New home-grown VC funds in Tianjin
China is set to approve as many as 10 domestic venture capital funds in Tianjin's Binhai New Area, the Financial Times reported. The funds, led by the Yindao Fund, which will have US$260 million to invest in innovative Chinese companies. The funds, together worth US$2.6 billion, are intended to boost the development of the new […]
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Shopping overseas
As Beijing invests its growing wealth, it may have more trouble with the nationalists at home than the protectionists abroad