International Business Opportunities

China IT service provider DCITS has received million in venture capital funds, according to the Private Equity Help Desk.

The deal is part of a spin off of DCITS. The company was previously part of Digital China Holdings Ltd. Infinity I-China Fund and China Singapore Suzhou Industrial Park Ventures Co. together led this round of funding.

“DCITS is the largest and most prominent company in which the Infinity I-China Fund has ever invested; and, Digital China is the strongest domestic brand in China's IT industry. Its market presence within major accounts in government and industry, execution capabilities, strategy as well as an unrivaled management team, all put DC and its spin-off in a clear leadership position. Our M investment in DCITS makes Infinity a partner in this great company. Moreover, this deal marks a major milestone in Infinity's implementation of its core strategy, essentially investing in leading Chinese companies which can also help Israeli and other foreign companies penetrate the Chinese market. With this new investment, such IT companies now have a natural partner in China,” said Avishai Silvershatz, managing partner of the Infinity I-China Fund, in a press release.

© sweethappychick1985

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A post in Seeking Alpha pointed out today the China's auto sales are down in August - for the first time in three years.

Is this the start of a post-Olympic trend? Inflation in China is at a 12 year high. The stock market is in a slump.

For the year, auto sales are still up about 14%.

“The August decline is mainly because of one-off factor of the Olympics that deterred consumers' attention,'' said Yale Zhang, director at CSM Asia in Shanghai. “Car sales growth may recover as soon as September as automakers start to add new models and offer incentives again.''

As Seeking Alpha points out, one statistic doesn't make a trend. I guess we'll see…

© Marc van der Chijs

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Private equity investment in China is down. On August 27 Business Week reported that PE investment was down over the first seven month of the year by over 42%. The came the Xinhua story on the August drop - with PE down 70% compared to last August.

“There were only three private equity investments in August, all into expanding or profit-making entities, according to the report from China Venture Investment Consulting Group.” according to Xinhua.

China's slumping stock market definitely plays a role in the decline. And even with the decline, there's still been over billion in investment. Some 73 companies in China have been on the receiving end of PE investment.

With the pressure of inflation and the uncertainty of what a post-Olympic economy will do, PE investors are likely to hold on to their money for a while longer. But the size of the Chinese market is likely to make investment hard to resist over the long term…

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Hua An Fund Management Co. warned today that it could suffer “potentially heavy losses” from bankruptcy of U.S. investment bank Lehman Brothers, according to the Industry Standard.

No numbers were given.

The Hua An Fund is a “qualified domestic institutional investor,” or QDII. Hua An Fund Management was the first fund approved to conduct overseas investments under the QDII program. It is one of a dozen funds worth 72.6 billion yuan (.6 billion) managed by Shanghai-based Hua'an.

© cogdogblog

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After five years of tight monetary policy, China's central bank announced a cut in a key interest rate Monday.

According to an AP report, the bank said it was lowering the rate on one-year yuan-denominated loans by 0.27 percent to 7.20 percent effective Tuesday.

China has had relatively tight monetary policy since 2003 in an effort to keep inflation low and prevent the economy from overheating. But the slowing of the Chinese economy has evidently now become more of a concern. Analysts think the move will help stop the decline in China's stock markets.

© Montrasio International

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Forex Factory made an interesting point yesterday about the up side of China stock crash: it has led to a stronger bond market in China.

Since it reached wild peaks in October of last year, the Shanghai Stock Exchange has lost over half its value. If you're own the outside looking in (like the vast majority of foreign investors), you're probably thankful that China's policies on foreign investment kept you at arm's length from the market in those heady days.

Forex Factory suggests that the bond market is more important to the Chinese economy than the stock market, anyway. So perhaps the growth of China's bond market is a silver lining. And we all know that stocks there recover…

© lumaxart

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What is the difference between a Chinese bank and an American bank? A Chinese bank has money…

Okay, I stole that joke from Richard Brubaker over at All Roads Lead to China. He goes on to point out that China's yuan RMB is the currency that supports both US and Chinese banks (I guess since China buys so many treasury notes).

And he points out the irony that five years ago American banks were bemoaning the fact that 20-30% the loans at Chinese banks were non-performing.

Life's funny…

© Aaron.huo

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Matt over at bizCult had a great piece yesterday on the difficulty involved in getting you money (in Chinese currency) home to America (or wherever) when you leave.

The rules about transferring yuan out of China are complicated. Matt looks at a number of strategies - not all of them completely legal in the eyes of the PRC. You can carry it physically out of China with you - up to 20,000 RMB. There's always Western Union, or a more traditional bank transfer.

Matt also looks at the option of changing your yuan into dollars before you leave China. Interesting piece…

© ArchiM

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China’s stock markets Monday maintained the momentum it gained last Friday on major government market boosts.
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Chinese stocks jumped for a second day on Monday, gaining nearly 8 percent amid surging volume, as investor confidence got a further boost.
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