Twinnie Siu

UBS becomes first foreign bank approved for majority stake in China JV

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.

HNA Technology scraps plan to buy Chinese e-commerce firm Dangdang

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.

China to launch nationwide inspections of ride-hailing companies

The inspections, starting from Sept. 5, will cover all ride-hailing service platforms nationwide

Alibaba to buy minority stake in digital marketing firm Focus Media

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.

Foxconn unit targets Shanghai IPO, to raise capital for 5G projects

The unit, which makes industrial robots, plans to issue up to 10 per cent of its enlarged share capital.

Lenovo to be removed from benchmark Hang Seng Index

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.

China: HNA unit Tianjin Tianhai plans to buy Dangdang’s e-commerce assets

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.

Taiwan’s Foxconn to invest $342m in AI, industrial internet

iPhone supplier Foxconn’s core manufacturing business has come under pressure due to a slowdown in demand for smartphones globally.

China Huishan Dairy asks lawyers to prepare for provisional liquidation

Provisional liquidation signals Huishan will likely be wound-up, with its assets sold off to help pay off billions of dollars owed to creditors.

Yingde Gases shares suspended, pending delisting from HK exchange

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 »