JPMorgan Chase and Japan’s Nomura Holdings have also applied to set up majority-controlled joint ventures. Unlike UBS, neither currently has a mainland joint venture and would need to start any such operation from scratch.
This spells the latest blow to HNA Group which lately has done a series of divestments to slash debt at the aviation-to-financial services group.
The inspections, starting from Sept. 5, will cover all ride-hailing service platforms nationwide
Alibaba will acquire about 6.62 percent in Focus Media for 9.63 billion yuan ($93.8 million) and possibly another 5.0 percent stake in the next 12 months.
The unit, which makes industrial robots, plans to issue up to 10 per cent of its enlarged share capital.
The Hang Seng Indexes Company said it has decided to remove Lenovo from the blue-chip index after reviewing the Hang Seng Family of Indexes for the quarter ended March 30 this year.
The acquisition will allow Tianjin Tianhai to tap into China’s e-commerce market via Dangdang, which is known for its online marketplace for books, clothes, furniture and other consumer goods.
iPhone supplier Foxconn’s core manufacturing business has come under pressure due to a slowdown in demand for smartphones globally.
Provisional liquidation signals Huishan will likely be wound-up, with its assets sold off to help pay off billions of dollars owed to creditors.
Shares of Yingde Gases were suspended on Friday after the company said it might withdraw its Hong Kong listing in September after China’s largest industrial gases company finalizes a privatization plan. In March, Hong Kong-based private equity firm PAG agreed to buy the 42.1 percent stake of three co-founders of… Read more »