Chinese major Dalian Wanda Group mulls IPO for Internet finance unit

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The plan is part of a broader goal to capitalize other units including its film, tourism and sports businesses via stock listings, Wang, China’s richest man, said at the Asia Financial Forum.

Chinese P2P lender becomes world’s most valuable fintech startup. Raises $1.2b, deal values company at $18.5b

Lufax raised $924 million from new investors in a so-called B round of financing, as well as an additional $292 million from investors who had bought stakes in the company in an initial funding round.


Chipmaker Qualcomm in $280m joint venture with Chinese province

Qualcomm Inc and the provincial government of Guizhou in southwest China unveiled on Sunday a $280 million joint venture for the design, development and sale of advanced server technology, as the U.S. chipmaker deepens its Chinese relations.


Blame, anger, frustration as China’s stock rescue effort looks defeated

A Chinese government campaign to restore confidence in the country’s volatile stock markets appeared to be in tatters on Friday as the benchmark Shanghai index wiped out all the gains made since the depths of last year’s crash. Among a flurry of measures, a so-called national team of institutional investors… Read more »


Bondholders offer China developer Kaisa another debt recast plan

A group of bondholders in debt-laden Chinese developer Kaisa Group Holding, including Farallon Capital and BFAM Partners, have drawn up a debt restructuring plan even as the company pushes ahead with its own proposal, a source close to the two funds said on Friday. The bondholders proposal, which follows one launched by… Read more »


Xiaomi misses 2015 target as competition bites

Smartphone maker Xiaomi Inc said on Friday it had shipped more than 70 million handsets in 2015, undershooting its own target and casting doubts about the growth prospects of China’s most valuable tech startup in a cut-throat market. The figure was announced in a photo featuring Xiaomi President Lin Bin which was posted on… Read more »


Chinese bidders circle Bain Capital-backed FTE Automotive

Chinese bidders are circling FTE Automotive, a German clutch maker being readied for a sale or listing by U.S. buyout group Bain Capital, two people familiar with the matter said on Friday. Bain is pursuing a so-called dual track strategy but a sale is seen as the more likely outcome, the sources… Read more »


China’s JD.com finance arm raises $1b from Sequoia, others

China’s largest online direct sales firm, JD.com, said on Saturday it will raise 6.65 billion yuan ($1 billion) for its JD Finance subsidiary from investors including Sequoia Capital China, China Harvest Investments and China Taiping Insurance. The financing values JD Finance at 46.65 billion yuan on a fully-diluted, post-investment basis…. Read more »


China-led Asian infra lender AIIB launches signalling a shift in economic power balance

Despite opposition from Washington, U.S. allies including Australia, Britain, German, Italy, the Philippines and South Korea have agreed to join AIIB in recognition of China’s growing economic clout.


GE to sell appliances business to China’s Haier for $5.4b

GE said the deal values the appliance business at 10 times last 12 months EBITA