A number of Chinese firms are putting the brakes on domestic listing plans as the country’s largest outbreak of Covid-19 in two years presents a barrier to information gathering and due diligence, upsetting an estimated $9 billion-plus in fundraising, reports Reuters. Over the past week, 15 companies seeking initial public offerings (IPOs) on Shanghai’s tech-focused […]
Category: Markets
International investors have been pulling money out of China on an “unprecedented” level since the Russian invasion of Ukraine, a report by the Institute of International Finance (IIF) has shown, and the yuan may well face increasing pressures over the coming months, reports the South China Morning Post. High-frequency data detected large portfolio outflows from […]
Chinese tech giant Alibaba Group took led a $60 million investment round in Chinese augmented reality (AR) glasses maker Nreal, reports Bloomberg. The so-called Series C+ funding round brings the total Nreal raised within 12 months to $200 million, the Beijing firm said, without disclosing its latest valuation. The startup was valued at $700 million […]
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FDI in China reaches record levels
China brought in a record $334 billion in net foreign direct investment (FDI) last year, a 32% year-on-year increase, reports Caixin. Net FDI inflows are a large part of total net overseas investment into China, which itself jumped 13% to $661.6 billion in 2021, according to the State Administration of Foreign Exchange (SAFE). Another major […]
China’s largest brokerage, CITIC Securities, posted a 55.01% increase in profit for last year thanks to strong gains in securities investments, reports Reuters. Net profit for the 12 months ended December rose to RMB 23.1 billion ($3.6 billion) from RMB 14.9 billion a year earlier, on the strength of investments, the company said in a […]