China Digest

Economics and policy from China’s newspapers

Friday September 15, 2017

SoftBank eyes US$500 million investment in ZhongAn IPO

SoftBank Vision Fund, the world’s largest private equity fund, is considering a US$500 million investment in the Hong Kong initial public offering of ZhongAn Online Property and Casualty Insurance Co. Ltd., Caixin reported, citing an insider close to the deal.

BTC China shutdown may herald end of bitcoin era

As one of the oldest cryptocurrency exchanges announced it is shutting down trading, the era of bitcoin might be drawing to an end in China.

Three companies fall short in latest IPO review

The China Securities Regulatory Commission has turned down four out of seven IPO applications and given the green light to the rest during its recent meeting on Wednesday, the China Securities Journal reported.

THAAD tensions prompt Lotte Group to sell discount stores

Lotte Group has begun work to sell its discount store chain in China, an unnamed industry source told, as China steps up its retaliation against the South Korean retail giant due to its support for a US missile defense system.

Energy SOE reform on fast track

China’s state-owned enterprises in the area of energy have been recently been accelerating internal reform in an effort to restructure to a more efficient company system, the Securities Daily reported.

SAFE deputy head backs single value for the yuan

The deputy head of China’s State Administration of Foreign Exchange (SAFE) said on Wednesday that the global yuan market should be combined, reported Caixin on Thursday.