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News from China
Record 257 M&A deals secured
29th October 2015

CHINESE mainland enterprises sealed a record 257 merger and acquisition deals in the first three quarters of 2015, surpassing the total for the whole of last year, a report showed yesterday.
The number of M&A deals surged 46 percent from the same period of last year while the deal value rose just 5 percent year on year to US$45.1 billion, PricewaterhouseCoopers said in the report.
PwC attributed the increase to the Chinese government actively facilitating outbound investment and a favorable market environment.
“From a financing perspective, easy monetary policies, low interest rates and reserve ratios, and a significant surge in China’s stock markets in the first half of 2015 have helped to drive deals,” said Andrew Li, PwC China advisory services leader.
Listed companies led the mainland’s outbound M&A deals, with the number of deals sealed by them taking up 62 percent of the total in the first three quarters, data showed.
Privately owned enterprises continued to be a key driver as they sealed 167 deals, more than three times that of state-owned enterprises for the period.
“Privately owned enterprises’ outbound activities covered a wide range of sectors with investors searching overseas manufacturers with advanced technology, consumer companies with brand and customer assets and media and entertainment companies with focus on lifestyle improvement,” Li noted.
SOEs sealed US$23 billion in M&As due to mega deals, compared with US$14.5 billion for private companies, the report said.
PwC predicted outbound M&A activities will continue in the fourth quarter and next year.
 

Source: Shanghai Daily
Cable bolt woe forces car recall
28th October 2015

Volkswagen China is to recall 5,906 Bentley Flying Spur and Continental luxury sedans imported into the Chinese mainland over a potential problem with the battery cable, the General Administration of Quality Supervision, Inspection and Quarantine said in a statement yesterday.
The affected cars are from the 2012-2014 model years. They were produced between February 5, 2012, and May 15, 2014.
Their 12-volt battery cable has a bolted connection that may become loose. If it loosens, the battery won’t be able to ignite the engine to start, leaving the cable to overheat and posing a fire risk.
The recall is to replace the battery cable bolts.
Owners of the affected vehicles will be contacted by Bentley dealerships from November 10.
 

Source: Shanghai Daily
Banking assets and liabilities increase
27th October 2015
TOTAL assets and liabilities of Chinese banking institutions rose in September, according to data released yesterday by China’s top banking regulator.

As of the end of September, onshore assets of China’s banking institutions, including commercial banks, policy banks and rural credit cooperatives, rose 15 percent from a year earlier to 188 trillion yuan (US$29.6 trillion), the China Banking Regulatory Commission said.

Total liabilities of these institutions were 174 trillion yuan at the end of last month, up 14.2 percent over the same period of last year.

The growth rates of total assets and liabilities, important signs of the health of the banking industry, slowed compared with levels at the end of August.

The CBRC data showed commercial banks’ total assets gained 10 percent during the period while their liabilities grew 9.3 percent. 

Source: Shanghai Daily
Nepal gets Chinese fuel
26th October 2015

China will provide Nepal with 1.3 million liters of gasoline to help it cope with severe fuel shortages as a result of restricted supplies from neighboring India, officials said yesterday.

The gasoline will be brought to a town near the China-Nepal border, said Nepal Oil Corporation official Deepak Baral. It will take about 100 tanker trucks to transport the gasoline to Kathmandu, Nepal’s capital.

It would be the first time Nepal would be getting fuel from China. The countries share a border that has the world’s highest mountains, but two border crossings were damaged by an April earthquake. One of the crossings reopened this month.
 

Source: Shanghai Daily

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