Alibaba Group has completed acquisition of South China Morning Post. To put a footstep with revealing the acquisition, readers have got free access to the once subscribed online newspaper. The move allows the 113-year-old newspaper to approach towards becoming a global leader in news arena.
China news
The Chinese central bank governor has warned over rising debt levels. To tackle the abnormal situation, the central bank feels necessity for promulgation of regulation guarding excessive leverage in foreign currencies. Meanwhile, the Chinese government vows to respond according to the call of time.
The state backed venture funds of China have raised around ¥1.5 trillion ($231 billion) during 2015. The local fund managers are working to collect another ¥2 trillion which seems to be impossible to handle. Shortage of skilled fund managers and eligible startups has been analyzed as the major hurdles in managing such huge funds.
Gree, the largest Chinese air conditioner maker has been witnessing sluggish growth in its home appliance business. The home appliance manufacturer has announced on Monday acquiring electric vehicle manufacturing company Yinlong New Energy Co. Through this acquisition, another giant steps into the emerging electric car market.
Ma is going to expand his control in media arena through acquiring stake in Caixin Media. However, the media company has confirmed that the potential investors primarily agreed not to interfere in Caixin’s editorial interest. Details of the possible deal hasn’t been available from either party.
China has been widely criticized for strict cyber laws. On Sunday, the communist government has mulled its legislative power to impose ban on accounts of former Chinese tycoon, Ren Zhiqiang. While around 40 Chinese journalists have been confined in jail as victims of tougher cyber laws, the communist government is going to enact further tougher laws on March 10.
China’s central bank, the People's Bank of China is putting the largest amount of cash into the financial system in nearly three years which is around 340 billion yuan. The move was done as the bank is preparing for lots of cash out as it is nearing the Lunar New Year.
JD.com, China’s largest online direct sales company, has raised $1 billion, for its JD Finance subsidiary from investors including Sequoia Capital China, China Harvest Investments and China Taiping Insurance.
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