Chen Tianqiao, the founder of Shanda Group who a decade ago was China's youngest billionaire, has led the purchase of an 11.7 percent stake in online lender Lending Club Corp, according to a filing with the US Securities and Exchange Commission.
China's internet giant Tencent Holdings Ltd is said to be in talks to buy control of one of the top-earning game developers in the world from SoftBank Group Corp, in a deal worth $5 billion.
Years ago, I heard some media guru commenting that the internet would make some writers very rich. I remember thinking aloud, "Yeah, right. Easy for you to say so."
The outbound mergers and acquisitions by Chinese companies are set to continue after the record-breaking growth in the first quarter of the year, despite the broad rising regulatory headwinds, senior executives of US investment bank Goldman Sachs Group said.
China Shipbuilding Industry Corp, one of the country's two major shipbuilding conglomerates, plans to integrate six of its shipyards into three. It will focus more on building high-end vessels as the industry remains in choppy waters amid waning global demand.
China's State-owned commercial lenders have made strong progress in promoting renminbi internationalization, with the currency falling 5.6 percent against the US dollar in the past year.
China Three Gorges South Asia Investment Ltd, an offshoot of the world's largest hydropower operator China Three Gorges Corp, is to offer up to 19 percent of its equity to outside investors, according to a senior executive.
Services-related online consumption in China saw a surge in the past five years, said a report jointly released by the China Academy of New Supply-side Economics and research company Ant Financial, the financial arm of Alibaba Group Holding Ltd.
When President Xi Jinping visited BGT Materials Ltd based in the University of Manchester in October, he was shown the world's first graphene light bulb, which was manufactured in China.
In a major technological breakthrough, Guangzhou OED Technologies in Guangdong province, in collaboration with Chongqing Graphene Tech Co Ltd, has developed a new type of electronic paper that industry experts have dubbed "the world's first graphene e-paper".
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