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Stake in Tencent-backed WeBank to be auctioned after court ruling


A stake of Chinese private lender WeBank is being auctioned with a price tag of $63.63 million following a court ruling.

Chinese developer Guangzhou R&F Properties plans $1.4b HK share sale

The extra money would strengthen the company’s finances, improve its credit rating outlook and help to lower funding costs.

China to set up new trading zone in Shanghai for high-tech companies

China is expanding efforts to keep its most promising companies from going public in Hong Kong or the U.S.

China tests tighter regulations on financial firms including Ant Financial

The pilot scheme, designed to rein in debt risks among financial holding companies, also included retail conglomerate Suning.com and large state-owned companies such as China Merchants Group and Shanghai International Group.

Tencent says has invested in over 100 unicorns, announces investment shift

The Chinese firm has invested more than RMB 100 billion ($14.5 billion) in over 600 companies.

China’s Shunwei Capital announces close of new funds at $1.21b

An SEC filing earlier this year suggests that the fundraising was for Shunwei China Internet Fund IV and Shunwei China Internet Opportunity Fund III.

Chinese music education platform VIP Peilian snags $150m Series C

Other investors that participated in the round include existing backers Tencent Holdings, Orchid Asia, GSR Ventures and Bluerun Ventures.

Warburg Pincus cancels plan to invest $500m in China’s Lianjia: Report

Warburg Pincus earlier expressed interest to join in Lianjia’s $2-billion funding round that values the Chinese firm at $13 billion.

Wealthy Asians driving family office boom in HK, Singapore

As the wealthy target greater investment diversification and as business owners hand over the reins to successors, family offices are sprouting in the Asian financial hubs, taking advantage of incentives such as tax breaks and residency being offered.

Alibaba cuts sales forecast on economic uncertainty, trade fears

The move comes ahead of Singles’ Day which last year netted the firm over $25 billion in sales.