介绍:
China's Legend Holdings Edges up in Hong Kong Debut
China's Legend Holdings Corporation, the parent company of the world's biggest PC maker Lenovo Group, debuted on the Hong Kong Stock Exchange on Monday.
Shares of Legend Holdings rose slightly on the day after the company raised nearly 2 billion U.S. dollars in an initial public offering (IPO).
The IPO was priced near the top of a 39.8 Hong Kong dollars or about 5.1 U.S. dollars to 43 Hong Kong dollars per share marketing range.
Legend Holding's Chairman and Executive Director Liu Chuanzhi attended the ceremony to mark the company's listing at the Hong Kong Stock Exchange.
He says he is focused on the long-term development of the company.
"I am excited because this is a new milestone for myself and my colleagues. I am calm because we do not pay too much attention to the ups and downs of the stock market. What we care about is our long-term future."
The company secured 950 million U.S. dollars worth of commitments from 24 cornerstone investors.
Among them are Hong Kong tycoons Cheng Yu Tung and Walter Kwok, mainland Chinese investors such as Fosun International, CITIC and the asset management unit of Industrial and Commercial Bank of China.
China Plans for up to 30% Pension Funds to Enter Stock Market
It's being reported that China will release a plan as soon as this week that will allow pension funds to be invested in the country's stock market.
According to China Business News, up to 30 percent of pension funds are likely to be freed up for investment in the stock market.
The paper also says that the National Council for the Social Security Fund may take the helm for such investments.
The ministry has made no comment so far on the matter.
Pension funds account for about 90 percent of China's total social security funds.
Official stats show China's urban and rural pension funds amounted to 3.5 trillion yuan or about 563 billion U.S. dollars at the end of last year.
However, they face a severe depreciation risks as they earn interest at an annual rate of only two percent.
U.S. Cosmetic Giant Estee Lauder Lowers Prices in China
U.S. cosmetic giant Estee Lauder Companies is set to reduce the price of some of its most popular products in China from July 1.
It comes after the Chinese government lowered import tariffs to stimulate domestic consumption.
The price cut will cover all skincare and make-up brands owned by the company, including Estee Lauder, Clinique, La Mer, Origins, MAC, Bobbi Brown and Lab Series.
The reduction in price ranges from 11 percent on a best-selling La Mer facial cream to 23 percent on an Origins essence.
In May, French cosmetic company the L'Oreal Group announced that it will reduce the price of most of its imported products.
Analysts say the move is considered to be a countermeasure to the slowdown in the Chinese market.
Nikkei to Sponsor Asian PMI Series
Financial research group Markit says Japan's Nikkei business daily is set to sponsor the Asia purchasing managers' indices.
The sponsorship with Nikkei branding includes ten PMI surveys in the Asia-Pacific such as Hong Kong Whole Economy PMI, India Manufacturing PMI and Japan Manufacturing PMI.
It also includes two new PMI surveys for Malaysia Manufacturing and Singapore Whole Economy.
Compiled by Markit, the Asia PMI series are based on data collected monthly from 5-thousand purchasing or other senior managers in the region.
The PMI surveys provide advance indications of economic developments by tracking variables such as new orders, employment and prices.
China's Huawei to offer more training opportunities for African students
Chinese telecom equipment and service giant Huawei is going to offer more training opportunities for African students in the next five years.
The company is planning to enroll over one thousand students across Africa into a "Seeds for the future" program and fund them to travel to China.
Training opportunities will be given to top students from across Africa who are majoring in information and communications technology.
The program aims to help build information and communications technology capabilities in Africa.
GAC to Launch Two Industrial Funds
Guangzhou Automobile Group is going to launch two industrial funds namely Emerging Industry Acquisition Fund, and Automotive Industry Investment Fund.
The Emerging Industry Acquisition Fund has a total capital of 5-hundred million yuan or some 80 million U.S. dollars.
The fund will invest mainly in strategic emerging industries such as the upstream and downstream sectors of automotive industry, advanced manufacture, and financial services.
Meanwhile, the Automotive Investment Fund has a total capital of one billion yuan.
The fund will focus on the innovation and technology of automobiles.
大家还在听
