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FUNDS

Warburg Pincus, Matrix Led $70M Series C In China's Liepin.com

Beijing-based Chinese Internet-based recruitment service provider Liepin.com says that it has completed $70 million series C financing led by Warburg Pincus and Matrix Partners China, according to a company announcement.

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TPG, Fosun’s Privatization Target Chindex Receives Higher Takeover Proposal

NASDAQ-listed Chindex International, Inc., the operator of high-end United Family hospitals in China, says the company has received a superior take-private proposal from an unspecified financial bidder, according to a company release.

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Hony-Backed NetJets Plans Mid-Year Launch Of China Service

Global private aviation firm NetJets Inc. says that it is preparing to begin its China business once government approval is finalized, according to a company announcement.

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IDG, China Lodging $56M Private Placement In Quanjude Gets Board Approval

Beijing-based Chinese catering chain Quanjude Group Co. Ltd. says the company plans to raise a total of RMB350 million ($56 million) by offering 24.95 million ordinary shares through a private placement. The deal has been approved by the company's board, according to a regulatory filing. IDG Capital Partners and China Lodging Group, a domestic hotel […]

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Shunwei Capital Targets $525M For Two New Funds

Shunwei Capital Partners has launched two new funds targeting to raise a total of $525 million, according to media reports.

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EQT Partners Plans To Exit Taiwan Gala TV

Swedish private equity firm EQT Partners is planning to exit its investment in Taiwan cable TV network Gala TV (GTV) for NT$6 billion ($200 million), according to Taiwanese media reports.

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Jafco Ventures Reaches $260M Final Close For Fifth Fund

Palo Alto, California-based venture capital firm Jafco Ventures has reached a final close for its fifth fund, raising a total of $260 million, according to a company announcement.

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Baoku.com Completes $10M Series A Round Of Financing

Beijing-based travel solution provider Baoku.com has completed series A round of financing, raising nearly $10 million, according to Chinese media reports.

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AutoNavi's $1.1B Go-Private Deal By Alibaba Wins Board Approval

NASDAQ-listed Chinese digital mapping and navigation firm AutoNavi Holdings Limited says that it has entered into a definitive merger agreement to be acquired by Alibaba Group Holding Ltd. in a go-private deal, according to a company announcement.

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ECONOMY

China's Q1 GDP Growth Slowed To 7.4%

China's GDP growth slowed to 7.4% in the first quarter from 7.7% of the fourth quarter last year, mainly dragged down by slower investment growth, according to the National Bureau of Statistics.

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China's Total Social Financing Rose To RMB2.07T In Mar

Chinese banks made RMB1.05 trillion ($168.8 billion) new RMB loans in March, in line with forecast of RMB1 trillion, according to data released by the People's Bank of China.

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China's CPI Rises 2.4% In March

China’s March consumer price index (CPI) reached a year-on-year increase of 2.4%, up from 2.0% in February, according to data released by the National Bureau of Statistics.

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China's Trade Continues To Drop In March

China’s exports dropped 6.6% while imports were down 11.3% compared to the same period in 2013, according to data released by China's General Administration of Customs. Although the high base last year was suspected to be fabricated, the new data was still below expectation. The value of exports in March was $170.1 billion and that […]

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China's Official PMI Rises To 50.3 In March

China’s official manufacturing purchasing managers’ index (PMI) climbed to 50.3 in March from February’s 50.2, suggesting the first rise since November last year, according to China’s National Bureau of Statistics. The low readings in January and February have led to market expectations that China’s economy is slowing down. "The recent vow by the government to […]

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China's Flash HSBC PMI Fell To 48.1 In Mar

The flash Markit/HSBC Purchasing Managers' Index (PMI) fell to 48.1 in March, compared with a final reading of 48.5 in February. This is an eight-month low for the measure.

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BofA Merrill Lynch Cut China Growth To 7.2% This Year

Bank of America Merrill Lynch has cut China's GDP growth in 2014 to an annual rate of 7.2% from its previous forecast of 7.6%, according to a report released by the bank.

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Growth Of China's Home Prices Moderated In Feb

Prices of new residential properties for 70 medium-to-large-sized Chinese cities increased 8.6% year-on-year in February, down from a growth of 9.5% in January, according to data released by the National Bureau of Statistics.

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China's Feb Data Points To Broad Economic Weakness

China's major economic indicators showed overall weakness in February. Industrial production slowed to 8.6% year-on-year in the period between January and February, down from 9.7% in December, and much lower than market consensus, according to data released by China's National Bureau of Statistics.

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BUSINESS

S&P Downgrades Fosun International's Credit Rating

Shanghai-headquartered Chinese privately owned conglomerate Fosun International Ltd. has been downgraded by Standard & Poor's Ratings Services because of the company's increasing leverage level as a result of its acquisitions, according to a notice issued by S&P.

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World Faces Enormous Challenges To Counter Global Warming

World Faces Enormous Challenges To Counter Global Warming

Global emissions of greenhouse gases grew more quickly between 2000 and 2010 than in each of the three previous decades, despite a growing number of policies to reduce climate change, according to a new report by the Intergovernmental Panel on Climate Change (IPCC).

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CITIC Securities Makes Strategic Investment In US Brokerage Firm BTIG

Global brokerage firm BTIG LLC says it has received a strategic investment from Hong Kong-based brokerage firm CLSA. The deal's value and terms are not disclosed, according to a company announcement. BTIG and its global affiliates will continue to operate as fully independent organizations. CLSA is 100% owned by CITIC Securities, China's largest brokerage firms […]

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Asia Pacific CFOs Bullish On Revenues, Less So On Profits

Asia Pacific’s leading chief financial officers (CFOs) are increasingly optimistic that revenues will rise in 2014 compared to last year, but are less optimistic on the outlook for profits, according to a survey commissioned by Bank of America Merrill Lynch.

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China To Launch Shanghai-Hong Kong Stock Connect Program

China To Launch Shanghai-Hong Kong Stock Connect Program

China is planning to launch a Shanghai-Hong Kong cross-border trading pilot program in about six months, according to an announcement released on the website of the China Securities Regulatory Commission.

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ANZ To Accept China's UnionPay Bank Cards In Asia

ANZ To Accept China's UnionPay Bank Cards In Asia

The Australia and New Zealand Banking Group Limited (ANZ) will accept China's UnionPay bank cards at its 120,000 merchant terminals and ATMs throughout Asia Pacific, according to a company announcement.

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Fitch Affirms China's A+ Sovereign Debt Rating

Fitch Ratings has affirmed China's sovereign foreign and local currency bonds rating at A+, with stable outlook, according to an announcement.

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China Led Clean Energy Race With $54.2B Investment In 2013

China Led Clean Energy Race With $54.2B Investment In 2013

Over the past two years, global clean energy investment has declined 20% from a record of $318 billion in 2011. But China is leading the race by making $54.2 billion investment in the sector last year, according to a report released by the Pew Charitable Trusts.

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Weibo's NASDAQ IPO Priced To Raise $380M

Chinese social networking platform Weibo Corporation is planning to raise $380 million million via an initial public offering on the NASDAQ, according to a securities filing.

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OPINION

China's Weak March Credit Numbers Call For Monetary Easing

China's Weak March Credit Numbers Call For Monetary Easing

The author is Nomura economist Zhang Zhiwei China's M2 growth slowed significantly to an unexpected record low of 12.1% year-on-year in March, down from 13.3% in February. This is on back of slower deposit growth and weak liquidity inflows.

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BofAML: China Had No Credit Squeeze, Nor Monetary Easing

BofAML: China Had No Credit Squeeze, Nor Monetary Easing

China's credit data came in better than expected, with new loans rebounded to RMB1,050 billion in March from RMB645 billion in February. Market expectations were RMB1,000 billion. Total Social Financing (TSF) jumped to RMB2,070 billion from RMB939 billion in February, against the market's expectation of RMB1,800 billion. China's foreign exchange reserves rose by $129 billion […]

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China's Slower M2 Growth In March Reflects Weak Demand

China's Slower M2 Growth In March Reflects Weak Demand

The author is Song Yu, China economist at Goldman Sachs Gao Hua China's March M2 supply was substantially below expectations, up 12.1% year-on-year, lower than Bloomberg consensus of 13.0%. While the base was high, which contributed to part of the fall in year-on-year growth, the implied sequential growth also slowed meaningfully.

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Shanghai Hong Kong Stock Link Program Will Lower Valuation Gap

Shanghai Hong Kong Stock Link Program Will Lower Valuation Gap

The author is China International Capital Corporation (CICC) analyst Wang Hanfeng The H-share market rallied 1.9% last week on the back of financial reforms, such as the forthcoming trial of preferred shares and the Shanghai-Hong Kong Stock Connect scheme.

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Implications Of China's Newly Launched Shanghai-HK Stock Connect Program

Implications Of China's Newly Launched Shanghai-HK Stock Connect Program

On April 10, China says it has approved, in principle, the development of a pilot program called the Shanghai-Hong Kong Stock Connect, for establishing mutual stock market access between mainland China and Hong Kong.

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China's Foreign Trade Deteriorated Further On PBoC Policy Squeeze

China's Foreign Trade Deteriorated Further On PBoC Policy Squeeze

The author is ANZ greater China chief economist Liu Li-Gang China’s export growth registered a negative growth for the second straight month in March, falling by 6.6% year-on-year, versus a 18.1% drop in February.

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BoAML Says China Faces No Major Risks On Capital Outflows

BoAML Says China Faces No Major Risks On Capital Outflows

China has massive foreign exchange reserves and requires its banks to hold high levels of reserves. These should leave ample policy room for China to manage any possible capital flight from the country, says Bank of America Merrill Lynch in a report.

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Emerging Market Stocks Will Remain Weak This Year

Emerging Market Stocks Will Remain Weak This Year

The author is Standard Chartered Banks' chief investment strategist Steve Brice Heightened emerging market political uncertainties, poor economic data in China, and the likelihood of the U.S. Federal Reserve's tightening all suggest emerging market under-performance is likely to extend over the next six to twelve months.

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COFCO's Acquisitions Highlight Its Strategic Role In China

COFCO's Acquisitions Highlight Its Strategic Role In China

The author is Fitch Ratings Inc. COFCO Corporation's (COFCO) planned acquisitions of controlling stakes in leading global agricultural products traders, Nidera and Noble Agri Limited (NAL), demonstrate its role as the Chinese government's key policy tool for ensuring food security for the country.

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