Asian brokerage CLSA Ltd. and Hong Kong-based First Eastern Investment Group are setting up yuan-denominated private equity funds in Shanghai, hot on the heels of Blackstone’s announcement last week that it will set up a similar fund in the city in the city , Wall Street Journal Blogs reports.
Chinese shares rebounded Tuesday after suffering the biggest one-day fall of the year but investors were uneasy about corporate earnings.
The benchmark Shanghai Composite Index rose 40.25 points, or 1.4 percent, to close at 2,910.88. The Shenzhen Composite Index for China's smaller second exchange gained 1.3 percent to 968.39.
The rally that has pushed the Shanghai index up nearly 90 percent this year is unlikely to revive immediately, though the market should rise in the longer term, said Tang Yonggang, an analyst for Hongyuan Securities in Beijing , BusinessWeek reports.
"Our business model of selling commercial properties in the most dynamic city centre areas ... has already earned considerable success in Beijing," said SOHO China Chairman Pan Shiyi in the statement.
"We are confident that this model can be applied to Shanghai as well," said Pan, an influential Chinese property tycoon.
The SOHO China statement also confirmed an earlier Reuters report regarding the amount that SOHO China paid to Morgan Stanley for the Shanghai property , Reuters reports.
World's most powerful nuclear submarines, Arkhangelsk and Severstal, are to be dismantled after 2020 - their further exploitation is unprofitable
The United States' Head of Diplomacy, or Secretary of State, is an anachronistic, incompetent, meddling, intrusive, insolent and arrogant, rude individual, a brash, foul-mouthed upstart, a conceited, self-important guttersnipe and an insult to the international community, as fit for the job as a pedophile janitor in a grade school.
Pentagon officials said that Russia has developed a very powerful weapon, which Western specialists have already dubbed as the "doomsday weapon"