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BEIJING: Chinese billionaire Zhang Jindong secured a US$1.36bil (RM5.65bil) state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily-indebted conglomerates.
The investment between US and China dropped to US$15.9 billion in 2020, much less than the US$70 billion invested in 2016, according to a reportUS capital invested in China dropped by roughly a third from the year earlier to US$8.7 billion last year
HONG KONG (Bloomberg): The bigamy conviction got a lot of the attention but Lai Xiaomin received a death sentence on Tuesday (Jan 5) over a much more serious issue troubling China.
SHANGHAI/BEIJING, July 4 (Reuters): Chinese regulators adopted shock and awe tactics on Saturday to target misbehaving shareholders of banks and insurers by naming and shaming 38 corporate investors for having "gravely" violated rules and laws in their first such exercise.
SEOUL: South Korea’s Mirae Asset Global Investments says it has terminated a US$5.8bil deal to buy 15 United States hotels from China’s Anbang Insurance Group
HONG KONG: Dalian Wanda Group Co., the Chinese conglomerate that borrowed billions of dollars to fund an acquisition binge, is facing a double whammy this year: a wall of maturing debt and a deadly virus that has hampered its operations.
BEIJING: China took over management of debt-laden HNA Group Co.’s liquidity risks after the coronavirus outbreak scared off travelers and cut off the conglomerate’s main source of income, forcing the government to take extraordinary steps to contain the fallout from the epidemic.
BEIJING: China's banking and insurance regulator said on Saturday it had finished running Anbang Insurance Group, and the revamped entity Dajia Insurance Group was close to a decision on introducing a batch of strategic investors.