Tag Archives: Itochu

MULTINATIONALS: Free Trade Program Gets Boost From Japan, Thailand

Bottom line: A new e-commerce joint venture by Japan’s Itochu and Thailand’s CP Group marks the latest major advance for China’s fledgling free trade zone program, whose policies should eventually expanded to the entire country.

Itochu forms new venture in Shanghai FTZ

China’s fledgling Free Trade Zone (FTZ) program got a new boost last week when a group of corporate giants from Japan, Thailand and China announced a major new retailing joint venture in the original zone in Shanghai. That news came just a week after a major expansion of the Shanghai zone, and the announcement of a plan for 3 additional FTZs in other parts of China.

This sudden expansion of the FTZ program is a welcome development for the many private companies whose growth plans have been stymied for years by China’s huge bureaucracy. That group includes not only big multinationals like Amazon (Nasdaq: AMZN) and HSBC (HKEx: 5; London: HSBA), but also a growing number of homegrown private giants like JD.com (Nasdaq: JD) and Alibaba (NYSE: BABA), which also harbor global aspirations. Read Full Post…

News Digest: May 1-4, 2015

The following press releases and media reports about Chinese companies were carried on May 1-4. To view a full article or story, click on the link next to the headline.
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  • Walmart (NYSE: WMT) To Boost Sam’s Club China Stores By 60 Pct Over 3 Years (Chinese article)
  • WuXi PharmaTech (NYSE: WX) Announces Receipt Of Buyout Proposal (PRNewswire)
  • Itochu, CP Group In E-commerce Venture With Chinese Firms In Shanghai FTZ (English article)
  • ZTE (HKEx: 763) Taps Japan To Help Sell 60 Mln Handsets Globally (English aritcle)
  • ‘Cheating’ Chinese Antivirus Firm Qihoo 360 (NYSE: QIHU) Blames Cultural Differences (English article)
  • Latest calendar for Q1 earnings reports (Earnings calendar)

FINANCE: Citic, Galaxy Kick Off 2015 With Mega Fund Raising

Bottom line: New mega fund-raising by Citic and Galaxy Securities could presage a flurry of global buying in the year ahead as non-banking financial firms look to expand abroad.

Citic raises $10 billion

Massive new fund raising by 2 major Chinese financial firms is showing that these companies remain an attractive option for international investors, even as traditional banks have become a pariah due to their huge volumes of bad debt. The deals by financial conglomerate Citic Ltd (HKEx: 267) and Galaxy Securities (HKEx: 6881) will raise a collective $12.3 billion, and could also presage a new wave of global buying by fast-growing Chinese financial firms outside the nation’s traditional banks. Read Full Post…

News Digest: January 21, 2015

The following press releases and media reports about Chinese companies were carried on January 21. To view a full article or story, click on the link next to the headline.
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  • Itochu, Charoen (Tokyo: 8001) Pay $10.4 Bln for Stake in Citic (HKEx: 267) (English article)
  • China Telecom Incremental Increases Outpace China Mobile, Unicom in 2014 (Chinese article)
  • Spring Airlines (Shanghai: 601021) To Make Trading Debut In Shanghai (Chinese article)
  • New Oriental (NYSE: EDU) Announces Second Fiscal Quarter Results (PRNewswire)
  • Sougou Launches WeChat Headlines, Challenges Today’s Headlines App (Chinese article)