Evergrande chairman Xu Jiayin seizes top spot on China rich list


Xu’s reported $43 billion wealth – a gain of around $30 billion against last year – comes on the back of a surge in Evergrande’s shares

Wheelock sells HK building to China’s LVGEM for record $1.2b

It is the second-most expensive real estate deal in Asia this year, after CapitaLand’s Blackrock asset purchase.

China Minmetals-owned MMG seeks M&A in copper, zinc, other commodities

MMG may look more towards partnering other companies on the assets it wants to acquire, rather than going for acquisitions paid fully in cash.

China HNA banned from transactions with insurance unit for six months

China Insurance Regulatory Commission told HNA’s Bohai Life Insurance to stop some direct and indirect transactions.

S Korea’s Lotte to sell China Mart stores by year-end, several suitors express interest

Lotte decided to bow out of the business after most of its hypermarkets and supermarkets in China were shut down amid political tensions.

People Digest: Credit Suisse promotes Chow; JLL Apac head; Source Code names Yungang as partner

Chow had joined the bank in 1998 as a managing director, Equity Capital Markets.

Chinese PE firm Orchid Asia to make first and final close of $900m fund in Nov

The latest Orchid Asia fund expects to make equity investments of $20-150 million.

China independent oil refiners set up $5b joint venture

The new alliance, called Shandong Refining & Chemical Group, gathers six independent oil processors and a provincial government-backed fund as investors.

BMW eyes China joint venture with Great Wall Motor

This will be BMW’s second JV in China. It has a joint venture with local carmaker Brilliance China Automotive Holdings.

China: Smartphone recycling firm Huishoubao raises $45m led by Strait Capital

Huishoubao raised $15 million in Series A round led by Shanghai-headquartered investment firm Chengwei Capital last year.