The biggest chunk of outside funding comes from a powerful state-owned institution, Cinda, which is taking a 20% stake in the consumer-finance business.
FINANCE
Ant’s consumer finance unit to boost its capital to US$4.7 billion
The consumer finance unit of China’s Ant Group will boost the company’s capital to 30 billion yuan (US$4.71 billion) from 8 billion yuan, and introduce 4 new strategic investors, an exchange filing …
China Cinda Buys 20% Stake in Ant’s Consumer Finance Unit
Ant Group’s consumer finance unit will receive 22 billion yuan ($3.5 billion) fresh funding from a group of investors including one of China’s state-owned asset managers. China Cinda Asset Management …
State-owned bad bank China Cinda to buy 20 per cent stake in Ant Group’s consumer credit vehicle
A Chinese state-owned asset management company said on Friday that it will spend 6 billion yuan (US$930 million) to buy a 20 per cent equity stake in the consumer credit unit of Ant Group.
Canadian government fines China’s largest bank
Federal regulators have fined the Canadian operations of China’s biggest state-controlled bank $701,250 under the Proceeds of Crime and Terrorist Financing Act. Blacklock’s Reporter reports it was the …
China unveils plan to set up a financial center in Chengdu-Chongqing area
China announced a new plan on Friday to build a financial center in the country’s southwestern Chengdu-Chongqing area by 2025, as part of the country’s larger drive to boost economic growth in the …
Ant’s consumer finance unit to boost its capital to $4.7 billion
The consumer finance unit of China’s Ant Group will boost the company’s capital to 30 billion yuan ($4.71 billion) from 8 billion yuan, and introduce 4 new strategic investors, an exchange filing …
Ant’s consumer finance unit to boost its capital to $4.7 bln
The consumer finance unit of China’s Ant Group will boost the company’s capital to 30 billion yuan ($4.71 billion) from 8 billion yuan, and introduce 4 new strategic investors, an exchange filing …
View: China’s economic engagement and protests in three continents
There have been protests in three countries located on three different continents. The common thread is the presence of Chinese investments.
China Cinda Will Hold 24% Stake in Chongqing Ant Consumer Finance After Deal
By Yifan Wang China Cinda Asset Management Co. said it has agreed to invest 6.0 billion yuan ($941.9 million) in a unit of Ant Group, one of the …
China Green Bulletin: Beijing’s Plan for Setting Eco-Friendly Industry Standards
The Caixin ESG biweekly has been upgraded to the China Green Bulletin! And what you receive is the free biweekly version. Sign up here for our twice-a-week email to keep updated with green, energy and…
China Pushes Back on Strong Yuan by Record Run of Weak Fixes
China set a weaker-than-forecast yuan fixing for a record 15th day on Friday as it seeks to curb currency gains that threaten to undermine its economic recovery.Most Read from BloombergSingapore’s …
Beijing Winter Olympics organisers ‘express regret’ after NHL pull players from Games
Beijing Olympics organisers expressed “regret” on Thursday after the National Hockey League said it would not allow its players to compete at the Winter Games because of disruption to the league …
