China Economic ReviewInsurance group Prudential said it has received approval from the China Securities Regulatory Commission to set up a fund management joint venture with mainland financial services group CITIC, AFP reported. Prudential and CITIC will hold equal stakes in the CITIC Prudential Fund Management Company, with the remainder held by China-Singapore Suzhou Industrial Park Venture Company […]
Expanding its already large share of the China market, UK insurer Prudential may announce next week a fund management joint venture with Chinese financial giant, Citic, Prudential's current partner in a life insurance joint venture, the Financial Times reported. With 11 new funds already founded this year, the fund management market is increasingly competitive and […]
The US Carlyle Group could become the first foreign group to buy control of a big, state-owned Chinese Mainland company, the Standard of Hong Kong reported Friday, citing market sources. Carlyle has agreed to pay up to US$300 million for an 85% stake in Xuzhou Construction Machinery, China's largest maker of construction equipment, according to […]
Foreign investors will be allowed to take majority stakes in infrastructure projects in northeast China as part of government efforts to rejuvenate the region, The South China Morning Post reported, citing a government official. The government will permit overseas companies to own stakes of more than 50% in projects in the gas, heating and water […]
Venture capital firm SAIF Partners said it plans to invest about 70% of the US$643m it raised for its second technology fund into Chinese companies, The South China Morning Post reported, citing SAIF's managing partner Andrew Yan. Hong Kong-based SAIF, which claims to be the largest technology venture capitalist in China, closed its second fund […]