Category: China Deals

Developer Makes Largest Ever Investment by China in UK

On May 29, Chinese developer Advanced Business Park signed a $1.5 billion deal with London Mayor Boris Johnson to develop a 35-acre complex of offices and shops at the Royal Albert Dock near London’s airport aimed at attracting Asian companies....

/ June 18, 2013

Pioneer and Sinochem Close to Forming Partnership to Drill in Texas

On May 30, the Dallas Business Journal reported that Pioneer Natural Resources is close to entering a joint venture with China’s Sinochem Group through its US subsidiary Sinochem Petroleum USA LLC  for drilling interests near Midland, Texas. Pioneer will sell...

/ June 18, 2013

AIG Enters Joint Venture to Sell Life Insurance in China

On May 30, American International Group Inc. formed a joint venture with People’s Insurance Co. (Group) of China and PICC Life Insurance Co. Ltd., China’s largest insurance company, to sell life insurance in China. PICC Life and AIG will form...

/ June 18, 2013

China’s Fosun and AXA Private Equity Make Bid to Buy Club Med

On May 27, the two largest shareholders of Club Mediterranee SA (Club Med), France’s AXA Private Equity and China’s Fosun International Ltd., made an offer of $719 million to buy the rest of France’s famous resort operator. The two bidders...

/ June 18, 2013

Shuanghui’s Purchase of Smithfield Foods Could Be Record Deal

On May 29, China’s largest meat processor Shuanghui International Holdings announced it was buying Virginia-based Smithfield Foods Inc., the world’s largest pork producer, for $4.7 billion in a takeover that would be China’s biggest acquisition of a US company. Before...

/ June 3, 2013

China’s Foreign Exchange Administration Opens First US Office

China’s State Administration of Foreign Exchange (SAFE), which manages its currency reserves, has set up an office in New York, according to the Wall Street Journal. The New York branch is expected to invest in private equity, real estate and...

/ May 20, 2013

India and China Sign 8 Agreements on Trade

During Chinese Premier Li Keqiang’s four-day visit to India from May 19-22, eight agreements were signed to enhance trade between China and India. The two sides agreed to set up working groups to enhance trade, exchange best practices in agriculture,...

/ May 20, 2013

Israel and China Sign Agreement to Boost Exports

During a five-day trip to China, Israeli Prime Minister Benjamin Netanyahu and Chinese Premier Li Keqiang signed an agreement on May 8 to increase exports by offering exporters from both countries extra financial protection. The deal increases the amount of...

/ May 20, 2013

Zhejiang University Signs Agreement to Create London Campus

Zhejiang University, which is based in Hangzhou, signed a memorandum of understanding with Imperial College London on May 15 to make it the first Chinese university to set up a campus overseas. The proposed $228 million site could host up...

/ May 20, 2013

Goldman Sachs Sells Remaining Stake in China’s ICBC

Goldman Sachs Group Inc. is selling the rest of its stake in Industrial & Commerce Bank of China Ltd. for about $1.1 billion. Goldman made the investment about seven years ago. If the sale is successful, the Wall Street Journal...

/ May 20, 2013