By Bloomberg News
Evergrande will feel the pressure too from local players, like BYD Co., which has been a big beneficiary of electric-car subsidies from Beijing.
IQiyi Inc. intends to cultivate a social media-oriented video sharing platform geared toward entertainment.
Tencent follows a slew of Chinese tech companies from JD.com Inc. to Didi Chuxing that’re shaking up their ranks to tide them over tougher times.
The strategy shift marks a turn of fortunes for the Chinese co-working industry, whose rapid expansion has helped operators such as Ucommune, MyDreamPlus and Kr Space raise hundreds of millions of dollars.
Chinese companies completed $43 billion of first-time share sales overseas last year, the most since 2014.
The latest round comes shortly after Yijiupi closed its $200 million Series D round five months ago, which was led by Meituan and Tencent.
Firms including Blackstone Group LP and GAW Capital Advisors are in talks with banks in Asia for loan deals of more than $2 billion so far this year.
RedBox completed the property purchases using the $50 million committed by Chinese real estate investment manager InfraRed NF.
Gaw-led groups snapped up properties worth HK$35 billion ($4.5 billion) in Hong Kong in less than two years.
Shanghai’s Nasdaq-style Science and Technology board marks a radical shift from the current lengthy and cumbersome process for IPOs.