Chinese and Russian sovereign wealth funds are ready to double the size of their joint equity fund and increase its investment projects this year. Kirill Dmitriev, CEO of Russian Direct Investment Fund, told China Daily it plans to double its joint private equity fund with China Investment Corporation to $4 billion. Six to seven new [...]
The central bank is mulling broad changes to the interbank bond market in the wake of scandals that have led to the arrest of several executives working for large financial institutions. It has temporarily halted since April 25 the opening of new Class C accounts, which have been extensively abused and are the focus of [...]
China’s Purchasing Managers’ Index (PMI) for the manufacturing sector fell to 50.6 percent in April from 50.9 percent in March, the China Federation of Logistics and Purchasing (CFLP) said on Wednesday. It was the seventh consecutive month in which the PMI figure stayed above 50 percent, which demarcates expansion from contraction, according to a statement [...]
A total of 24 tourists have been rescued after they fell into a river from a tilted suspension bridge at a popular tourist town in central China on Wednesday night. They had been sent to hospitals and only two who suffered from minor injuries remained in hospital for further observation, according to the government of [...]
The Red Cross Society of China caused controversy on Monday when it apologized for using a 2008 donation of 84.72 million yuan ($13.73 million) for different charity projects than those originally agreed upon. The society, the biggest humanitarian organization in the country, said in an online notice that the money donated by more than 100 [...]
China’s direct investment in the United States showed strong momentum in the first three months of this year despite a weak fourth quarter of 2012 and the negative impact of “national security” concerns on some deals. During the first quarter, Chinese companies concluded eight mergers or acquisitions and nine greenfield investments — those involving construction [...]
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