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China s CR Capital ties up with CCBD to set up $7 8b industry fund

China’s CR Capital ties up with CCBD to set up $7.8b industry fund May 10, 2021 Beijing-headquartered CR Capital Management has tied up with state-backed China Council for Brand Development (CCBD) to launch an industry fund with a total capital commitment of 50 billion yuan ($7.8 billion). The fund, which will be launched with a corpus of 10 billion yuan ($155 million), is set to invest in local brands in the consumer sector. Investments will flow into the fund in three tranches, CR Capital said in a WeChat post. Founded by parent company China Resources Holdings in 2006, CR Capital invests in sectors spanning mass consumption, healthcare, green energy, technology innovation, and urban property, among others. As of February 2020, the Hong Kong-based firm managed over 100 billion yuan ($15.5 billion) in assets.

Chinese govt needs to become clean energy supermajor

A man walks near a coal-fired power plant in Harbin, Heilongjiang province, China November 27, 2019. - Reuters CHINA is turning to its state-owned coal power companies to helm the next stage of the country’s renewables push, as the sector becomes less attractive to other investors. Private firms have helped the top-polluting nation become the world’s largest generator of clean energy. Now, as China chases a target to zero out carbon emissions by 2060, and with subsidies for renewables investments ending, government-controlled utilities need to take the lead. The five biggest state-backed power firms have announced plans to develop about 305 gigawatts of new wind and solar capacity in the next five years, according to BloombergNEF, almost twice the amount it estimates the U.S. will install over the same period. At peak generation, the total being added would be about enough to power the whole of Japan.

15 Most Valuable Alcohol Companies - Insider Monkey

15 Most Valuable Alcohol Companies The alcohol industry performed better-than-expected in 2020 as demand grew worldwide. According to a report, the global alcoholic beverage market was valued at $515.2f billion in 2019 and projected to reach $614.7 billion at a compound annual growth rate (CAGR) of 7% from 2021 to 2023. In 2019, the largest region in the global alcoholic beverage market was Asia Pacific which accounted for 41% of the market. North America was the second biggest region, contributing 24% of the global market for alcoholic beverages. Rising Online Demand A report by the market research firm International Wine and Spirit Records, or IWSR, said that online demand for liquor in the U.S. was expected to jump by over 80% in 2020 as a result of the coronavirus outbreak. The report said that alcohol e-commerce sales were expected to come in at $5.6 billion in 2020, up from about $3 billion in 2019.

Tesco completes £8bn sale of Malaysia and Thailand businesses : CityAM

Tesco completes £8bn Malaysia and Thailand business sale prompting £5bn shareholder windfall Tesco sales jumped over the Christmas period, helped by a surge in online shopping (Getty Images) Tesco has completed the £8bn sale of its Thailand and Malaysia businesses and is gearing up to pay a £5bn special dividend to shareholders. The supermarket announced this morning that the division’s have been acquired by C.P. Retail Development Company, which is backed by Charoen Pokphand Group, CP All Public Company and Charoen Pokphand Foods.  Tesco will make a £2.5bn contribution to its pension scheme, and will pay the special dividend on 26 February, subject to the result of a general meeting on 11 February.

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