China Oceanwide buys GE sloppy insurance seconds

October 24, 2016

The private conglomerate run by Lu Zhiqiang is paying $2.7 bln for U.S. insurer Genworth Financial, which was spun out of the industrial giant and has since wasted away. It is not clear the Chinese buyer has what it takes to turn around Genworth, but the deal puts it on the map.

Philippines U.S. “goodbye” can fix China FDI gap

October 21, 2016

President Rodrigo Duterte's boast of ditching America for China plays well in Beijing. Cash is a major motivation. China is under-invested in the Philippines compared to elsewhere in Southeast Asia. Funds from the People's Republic can help Duterte deliver on big promises.

Alibaba courier aims high with New York IPO

October 18, 2016

Chinese logistics group ZTO Express wants to raise up to $1.3 bln through a New York flotation. Sales are soaring, thanks to the e-commerce boom. But rival couriers are also scaling up. ZTO lacks the market dominance or margins to justify an Alibaba-style premium valuation.

Crown highlights risks of courting Chinese VIPs

October 17, 2016

Shares in Crown Resorts crashed after China detained some staff. Investors had cheered moves by Australia's top casino company to distance itself from Macau. But this episode shows Chinese gamblers, and official attitudes, are crucial to gambling groups across the region.

Huawei and Lenovo salivate at Samsung phone fail

October 12, 2016

The South Korean group's decision to scrap the Note 7 smartphone is a golden opportunity for Chinese rivals like Huawei and Lenovo to capture share in developed markets, while expanding into the premium segment. Execution will be key, and Huawei looks better prepared.

Asia’s buyout barons hail “control” era too soon

October 10, 2016

Minority stake purchases still outweigh full-blown takeovers by private equity firms in Asia. A shift would help an industry flush with funds. But while recent data is encouraging, founders who want to sell and professionals who can run acquired firms are both in short supply.

Hadas: May offers British-style Great Leap Forward

October 7, 2016

The UK prime minister's "quiet revolution" won't rival Mao Zedong's original in tragedy, but her mix of autocratic politics, nationalistic hope and economic nonsense is eerily reminiscent. A Brexit that offers less free trade and more xenophobia is a recipe for economic decline.

HNA’s $10 bln leasing bet could fly

October 7, 2016

The acquisitive Chinese group will pay just over one times book value for CIT's aircraft leasing unit. That is decent compared to recent deals. Competition in leasing is fierce, and returns can be low, but HNA's increasingly global reach means it is well-placed to grow.

Evergrande finally hits on some sensible M&A

October 4, 2016

The debt-laden developer plans to swap assets for control of a mainland rival. By acquiring the $1.6 bln Shenzhen Real Estate, Evergrande may win higher valuations onshore. Assuming the overhaul gets past regulators and investors, this makes more sense than other recent deals.

Golden Chinese shopping spree will tarnish soon

October 3, 2016

China's "Golden Week" holiday will see mainland tourists splurging in bazaars from Milan to Macau. Retailers should enjoy it while it lasts. Tax cuts will make shopping at home less painful, and younger Chinese prefer experiences to handbags. That will cap future growth.