Until last year, Fidelity International’s most significant cornerstone commitments on the Hong Kong initial public offering (IPO) market dated back to 2021, when Chinese short-video platform Kuaishou Technology raised US$5.4 billion and healthcare firm Medlive Technology completed a US$543.4 million listing. Then for the next four years, the asset manager went quiet. Late last y...

With China’s currency having steadily strengthened in recent months, the central bank has rolled out a pair of measures to lower foreign exchange hedging costs and support cross-border yuan financing. In a notice on Thursday, the People’s Bank of China refined the framework for domestic banks to conduct cross-border yuan interbank financing, explicitly endorsing their role in pr...

Beijing is encouraging equity investors to pursue representative action against unscrupulous listed or delisted firms in an apparent effort to bolster confidence in the country’s stock markets, as trading resumed on Tuesday following a 10-day break. The Supreme People’s Court, mainland China’s highest judicial organ, also announced at a press conference that it would issue more ...

People across China are buying up gold in large volumes ahead of the Lunar New Year holiday, as surging prices for the precious metal fuel its popularity as both a festive gift and an investment. From migrant workers splashing out on gold-coated jewellery, to white-collar workers pouring their savings into gold-linked investment funds, the metal is widely seen not only as a mark...

China’s state-backed investors are stepping up funding for artificial intelligence-driven drug developers as Beijing pushes for technological self-reliance, with at least one company already advancing an AI-designed therapy into late-stage clinical trials. Hangzhou-based METiS TechBio, founded in 2020, raised 400 million yuan in Series D financing in August last year, led by the...