Warburg Pincus LLC will invest close to $700 million in China Huarong Asset Management Co, people with knowledge of the matter said, in the biggest investment in the nation's financial industry by a foreign buyout firm.
Country has large reserves but location makes exploration difficult
The Shanghai Clearing House signed a memorandum of understanding with Chicago-based CME Group Inc, one of the world's largest derivatives marketplaces, to develop products and services for global users as China accelerates its market liberalization and yuan internationalization.
Foreign institutional investors are topping up their holdings of China A shares in anticipation that they will be included in a global equity benchmark following the start of the Hong Kong-Shanghai Connect Program in mid-October.
China should strengthen cooperation with countries along the Silk Road economic belt to offset the negative impact of rising labor costs, economists said.
World Economic Forum stresses need to create high-value jobs
Try not to have a party before payday this month. You may need money earlier than you thought if you want to show off that new iPhone 6 to your colleagues.
The mainland's benchmark stock index rose to a 15-month high, led by defense and technology companies, amid speculation the government will increase military spending as part of its efforts to bolster economic growth.
With overcapacity and weak demand putting the sector in the red, the government is taking drastic steps, reports Du Juan.
The value of precious metals held by China's biggest lenders surged 66 percent year-on-year during the first half as banks leased more gold to customers to get around rules that made it harder to lend cash.
Move follows scandal at Shanghai facility, which sold expired products
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