china

China is strengthening oversight of outbound investment through new regulations from July 1 that are designed to safeguard national interests, following an earlier ban on Meta’s acquisition of AI firm Manus.

The US pharmaceutical giant will pay $650m upfront to support 12 cancer medicine programmes with HKEX-listed Innovent; the collaboration includes co-commercialisation rights in the US and Europe.

Hong Kong's finance secretary Paul Chan said the deal will "attract more cross-boundary Rmb financing and trading activities to Hong Kong".

Three brokers, including Hong Kong’s largest online brokerage Futu, have been heavily penalised by Chinese regulators, in an effort to clean up market misconduct and to curb illegal outflows.

Chinese regulators have blocked Meta’s acquisition of AI firm Manus, and fined a Chinese food firm using new overseas listing rules, as tech security concerns rise.

Rather than relying solely on exports, Chinese companies are gradually integrating into Europe’s industrial fabric, argues Collabrium Partners' Adam Zhang Yu.

The HKEX listed aluminium giant will use the money to stockpile bauxite, refinance debt, to invest in overseas projects, share repurchases and for general corporate purposes; it also made a concurrent share repurchase.

The sale price was 7% below the price of the last trading day which reflected “market conditions”, and as a result CATL’s shares declined 6.88% on April 28.

Several warnings, including from ratings agencies, have been issued, as the two giant Chinese property developers continue to struggle as losses mount.