billion – Asia Business

Singapore investors snap up US$5 billion of China’s commercial properties, brushing aside trade war concerns

June 15, 2019 AsiaBbillion, brushing, Chinas, commercial, concerns, investors, Properties, Singapore, snap, Trade, US5, war

Singapore’s investors made a strong comeback to China’s property market, becoming the biggest group of asset buyers in the country even as a trade war rages on with the United States, and threatens to spill over into an assault on Chinese technology.Real estate investments by institutions and individuals from the Southeast Asian city state rose to 34.65 billion yuan (US$5 billion) last year, or 42 per cent of total spending by global capital in China, according to data by real estate agency… Source link

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Chinese banks rejected nearly US$144 billion in loans last year using credit scoring system, central bank says

June 14, 2019 AsiaBBank, Banks, billion, Central, Chinese, credit, loans, rejected, scoring, system, US144, year

Chinese banks used the government’s new centralised credit scoring system to reject loan applications worth nearly 1 trillion yuan (US$144 billion) last year, the People’s Bank of China reported Friday, showcasing that its deleveraging campaign to reduce high debt and risky lending is succeeding.In total, 21 banking institutions rejected loan applications worth 911.7 billion yuan (US$131.7 billion) from “high risk” customers, while also receiving alerts on outstanding “high risk” loans worth 1… Source link

Vietnam

Mobile phone and spare part imports hit US$4.91 billion – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

June 13, 2019 AsiaBbillion, Business, Economy, hit, imports, Life, mobile, News, part, phone, Politics, Society, spare, Sports, US491, Vietnam

Việt Nam mostly imported mobilephones from China and South Korea in the period. — Photo cafef.vn HÀ NỘI — Việt Nam spent US$1.1 billion to import mobile phones and spare parts in May, up 36.2 per cent from the same period last year, according to the Ministry of Industry and Trade (MoIT). In the first five months of the year, total imports of the products were worth $4.91 billion, a 3.9 per cent year-on-year decrease. Earlier, imports of mobile phones and spare parts into Việt Nam fell in the…

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Ex-chemistry teacher Zhong Huijuan poised to become China’s third-richest woman after founding US$10.4 billion Hansoh Pharmaceutical Group

June 12, 2019 AsiaBbillion, Chinas, Exchemistry, founding, Group, Hansoh, Huijuan, Pharmaceutical, poised, teacher, thirdrichest, US104, woman, Zhong

Zhong Huijuan quit her job teaching chemistry to teenagers and got into the drug business.The career switch has paid off handsomely.Her Hansoh Pharmaceutical Group, China’s largest maker of psychotropic drugs, is poised to go public on Friday in Hong Kong with a market value of US$10.4 billion. Zhong holds a 68 per cent stake, giving her a US$7.9 billion fortune, according to the Bloomberg Billionaires Index.Zhong, 58, is not even the richest person in the family. Her husband Sun Piaoyang, 60,… Source link

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Will stock picking managers help deliver US$85 billion to China’s A-share market?

June 12, 2019 AsiaBAshare, billion, Chinas, deliver, Managers, market, picking, stock, US85

As global indices compiler MSCI increases the weightage of Chinese A shares in its gauges, it remains to be seen if stock picking managers, who last month pulled record levels of capital out of China’s domestic stock market through the stock connects, will bolster their positions and increase there exposure.Investment banks have forecast that as much as 80 per cent of a potential US$70-$85 billion in net inflows into A shares this year, on the back of the increase in MSCI weightage, could come… Source link

Vietnam

Venture capital funds commit almost half a billion dollars to VN startups – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

June 12, 2019 AsiaBbillion, Business, capital, commit, dollars, Economy, funds, Life, News, Politics, Society, Sports, startups, venture, Vietnam, VN

Agreements signed between the Ministry of Planning and Investment and investment funds at the summit. — Photo kinhtedothi.vn HÀ NỘI – Eighteen local and domestic venture capital funds have committed investment of about VNĐ10 trillion (US$429.2 million) to Vietnamese start-ups over the next three years. A number of cooperation agreements were inked at the Vietnam Venture Summit 2019 which opened on Monday in Hà Nội with the participation of leading global venture capital firms such as Temasek, Golden Gate Ventures, Softbank Vision Fund, CyberAgent Ventures, Insignia Ventures Partners and…

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China healthcare platform Waterdrop raises 1 billion yuan in funds from investors including Boyu Capital

June 12, 2019 AsiaBbillion, Boyu, capital, China, funds, healthcare, including, investors, platform, raises, Waterdrop, yuan

Waterdrop, a Chinese online insurance platform backed by Tencent, has raised more than a billion yuan (US$145 million) in a funding round led by private equity firm Boyu Capital.Other backers of the series C round include CICC Capital, while earlier investors including Tencent and Gaorong Capital also took part, the Beijing-based start-up said in a release on Wednesday.Founded by former Meituan Dianping executive Shen Peng in 2016, Waterdrop started as a health care crowdfunding platform for… Source link

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Hangzhou raises US$16.4 billion from land sales in just five months, amid construction binge for 2022 Asian Games

June 6, 2019 AsiaBAsian, billion, binge, Construction, games, Hangzhou, land, months, raises, sales, US164

Hangzhou, the provincial capital of the third most indebted Chinese region, raised more funds through land sales than any other Chinese city in the first five months of this year, as the local authority grapples with how to pay for a massive infrastructure and construction binge ahead of the 2020 Asian Games.The city renowned for its picturesque West Lake raised 113.5 billion yuan by selling 295 land parcels in the five months through May, according to calculations by the South China Morning… Source link

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ESR Cayman, Asia-Pacific’s largest warehouse landlord, set to raise up to US$1.2 billion in Hong Kong’s biggest IPO so far this year

June 5, 2019 AsiaBAsiaPacifics, biggest, billion, Cayman, ESR, Hong, IPO, Kongs, landlord, largest, raise, set, US12, warehouse, year

ESR Cayman, the largest logistics landlord in Asia-Pacific backed by private equity firm Warburg Pincus, has shrugged off the impact of the US-China trade war on the capital markets by launching Hong Kong’s biggest IPO so far this year.The company is seeking to raise up to HK$9.76 billion (US$1.24 billion) by issuing 560.7 million shares at an indicative offer price range of HK$16.2 to HK$17.4 per share. It has reserved the option of issuing an additional 15 per cent or 84.1 million shares,… Source link

Vietnam

Agriculture sector gains trade surplus of $3.3 billion in five months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

June 3, 2019 AsiaBagriculture, billion, Business, Economy, gains, Life, months, News, Politics, sector, Society, Sports, surplus, Trade, Vietnam

Export shrimp processing line. The agriculture sector achieved a trade surplus of US$3.3 billion in the first five months of this year. – VNA/VNS Photo Vũ Sinh HÀ NỘI – The agriculture sector gained a trade surplus of US$3.3 billion in the first five months of this year, according to the Ministry of Agriculture and Rural Development. The nation achieved an export value of $16.1 billion from agricultural, forestry and aquatic products during the period, a year-on-year increase of 1.2 per cent, including $3.6 billion in May. The sector spent $12.8 billion…