Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Haier Smart Home Sees Profit Drop as Revenue Grows
Trending in China: Can You Stop People Giving ‘Too Much’ Money to Their Favorite Live-Streamers?
Trending in China: Concerns Over Traditional Chinese Comedy ‘Selling Out’ In the Digital Age
ByteDance Doubles Down On Education
Chinese Biotech Firm Gracell Nets $100m From Wellington, OrbiMed, Others
Alibaba’s Hometown Could Become First in China to Issue Facial Recognition Ban
Battery and Hybrid Cars Will Dominate China’s Roads in 15 Years
Trending in China: Do The Sins Of The Father Fall On Their Sons? Social Media Lambast Pop Star with ‘Deadbeat’ Dad
Chinese Electronics Panel Maker CSOT Reports Profit Growth as Demand Soars
Xiaomi Invests in Home Improvement Firm Amid Push into Internet of Things
TikTok Escalates Patent Fight With Triller Amid Sale Talks
Chinese Self-Heating Hot Pot Brand Zihaiguo Nets Over $50m in Series C Round Led by CICC
Xiaomi Leads India’s Smartphone Market with 26.1% Share
Trending in China: Are China’s Blue-Collar Wages Really Higher Than Graduate Salaries?
Trending in China: An End to Spam Calls? Real Estate Company to Give Money to Anyone Who Receives One
Trending in China: Patriotic War Film Overpowers Foreign-Made Feature, But Not Everyone Is Impressed
Shopify Partners with TikTok to Drive Online Sales
Lawson Tests Next Step of Convenience Store Evolution in China
PUBG Creator Krafton Hires Bankers for Possible Record IPO
Mobile Browser Crackdown Ensnares Big Names
IFC Mulls $80m Loan to Chinese Pig Rearing Firm Guangxi Yangxiang

By DealStreetAsia / Sep 24, 2020 04:50 PM / Finance

International Finance Corporation (IFC), a member of the World Bank Group, is considering a 560 million yuan ($80 million) loan to pig breeding and farming firm Guangxi Yangxiang Co Ltd (Yangxiang), according to a disclosure.

The proposed loan will help finance the expansion of Yangxiang’s pig breeding and farming capacity and its ancillary facilities in Guangxi. The firm estimates that the cost of the expansion will be about $264 million.

Established in 1998 by Yang Xiang in Guigang, Guangxi Zhuang Autonomous Region, the company has grown to become one of the top pig rearing companies in China. Its businesses are the breeding and farming of pigs and other pig farm services.

This is not the first time IFC is providing financing to Yangxiang. In 2016, IFC extended a $50 million loan to the company to help finance the expansion of its stock sows and the hiring of contract farmers to raise 2 million pigs.

“IFC’s long-term loan is much needed by the company to improve its debt maturity profile and mitigate sector cyclicality in major expansions,” the lender said.

The proposed financing also serves as a stamp of approval for the company’s planned public listing, IFC said in its disclosure. It, however, did not provide details about Yangxiang’s capital market plans.

Yang, the firm’s founder, directly and indirectly owns 42.56 per cent of the company. The other shareholders are the employee-owned funds, 46 individual shareholders, Continental Feed, and two university funds.

IFC noted how Yangxiang implemented innovations in African Swine Flu (ASF) prevention and recovery. It aims to bring these practices to other industry players in Asia.

“IFC will support the company’s continuous efforts in obtaining higher standards in animal welfare and responsible use of antibiotics to make demonstration effects in the industry,” IFC said.

In April, IFC also proposed a $150 million loan to China’s live hog producer Muyuan Foods Co to help finance the construction of 10 new pig farms, primarily in the frontier regions of China.

Related: China’s 20,000 New Pig Farms Won’t Ease Pork Prices Just Yet

Share this article
Open WeChat and scan the QR code