DCM is not the first name that comes to mind for Silicon Valley entrepreneurs looking to raise venture capital. While DCM hasn't scored access to the same blockbuster deals in the U.S. that have made billions for other firms on Sand Hill Road, Asia is a different story.
Du Ronghai received an urgent phone call from his private banker at Industrial & Commercial Bank of China Ltd. about an investment opportunity promising a 10 percent annual return. Only for the privileged few, he was told.
Li Shufu, the Chinese billionaire chairman of Volvo Cars, said China should allow foreign carmakers to control their operations in the world’s largest auto market to encourage competition and bring down prices.
China’s property trusts, grappling with repayments equivalent to the size of Puerto Rico’s economy, face rising default risks as a former central bank adviser dubs real estate the biggest threat to the economy.
Chinese buyers have overtaken Americans to become the biggest investors in Australian property, drawn by the nation’s strengthening housing market, as their government tightens rules on buying at home.
Baosteel Group Corp., the parent of China’s biggest publicly-traded steelmaker, sold shares in Guangzhou Shipyard International Co. for a HK$155.7 million ($20.1 million) profit in less than three weeks.