China Digest

Economics and policy from China’s newspapers

Thursday September 21, 2017

China Unicom makes progress in enterprise reform

China Unicom is in negotiations with Baidu, Alibaba, Tencent and JD.com over possible future cooperation in retail, cloud computing, home internet and Internet of Things (IoT), China Securities Journal reported on Wednesday.

Tencent to buy 12% stake in CICC share issue

The China International Capital Corporation announced on Wednesday it has introduced Tencent as a strategic investor, Caixin reported. According to the signed agreement, Tencent will purchase 207.5 million shares of CICC’s newly issued H shares, a 12.1% holding.

China makes push into cross-border e-commerce

Premier Li Keqiang announced on Wednesday that China is set to boost cross-border e-commerce by setting up dedicated “experimental zones,” China Securities Journal reported on Wednesday.

Jia Yueting agrees to LeSports equity transfer

Jia Yueting, the controller of LeSports, has signed an equity transfer agreement with new investors, Sohu.com reported on Wednesday, citing an insider familiar with the case.

Private equity funds break 10 trillion yuan mark

The amount of private equity funds in China increased by 260 billion yuan (US$39.55 billion) in August, reaching a total amount of 10.21 trillion yuan — breaking the 10 trillion yuan barrier for the first time, Yicai.com reported.

Guangdong tops household savings in China

The coastal province of Guangdong leads the nation in household savings, according to a new report by the National Bureau of Statistics recently, Yicai.com reported on Wednesday.