After China’s largest privately owned steelmaker cut a deal to buy Fosun’s 60% of Nangang Iron & Steel, Nanjing Steel together with Citic swooped in to preempt the transaction

Even after Citic swooped in to help Nanjing Steel preempt its deal, Shagang urges Fosun to honor its $1.97 billion sale agreement

Market turmoil and Covid outbreaks almost wipe out earnings for a conglomerate also mired in a debt crisis

A unit of financial conglomerate Citic is fast-tracking a potential bid to buy 60% of Nanjing Nangang Iron & Steel, sources tell Caixin

Deal for 60% of Nangang is still up in the air as Nanjing Steel has right of first refusal and other bidders may include Citic Pacific and Fangda Steel

While steelmaker Shagang already paid almost half the $2.21 billion deal price, Citic Pacific and Fangda Steel are still lurking in the wings to snap up the Fosun crown jewel

Debt-laden conglomerate gets banks including ICBC, China Minsheng, Shanghai Pudong and HSBC to pony up funds for high-tech, advanced manufacturing and biomedical sectors

Acquisition of contract development and manufacturing organization and shareholder loan will expand the Chinese drugmaker’s footprint in Europe

Billionaire Guo Guangchang says the sprawling conglomerate has 270 billion yuan in total assets versus 100 billion yuan in liabilities at the group level

Offloading Nangang Iron & Steel may be the beginning of the end, or a fresh start for the debt-laden giant

Chinese conglomerate with stakes in Club Med, Lanvin, drugs, retailing and tourism moves to shore up balance sheet and dumps Moody’s following downgrades

The conglomerate will transfer its 60% shareholding in Nanjing Nangang Iron & Steel United to metals giant Jiangsu Shagang Group

A record number of Chinese cities report Covid cases during the National Day holiday. JD.com’s Richard Liu settles a lawsuit with his rape accuser

Lending syndicate including ICBC and China Minsheng Bank may start releasing credit next month to bail out troubled conglomerate, banking sources say

Xi will make his first foreign trip since the Covid-19 pandemic began

The conglomerate says a notice from the local state assets administrator was a routine request for information

CanSino’s net income fell 99% in the first half, while Fosun reported a decline of more than one-third

There’s a long way to go in rolling out the advanced shots for China as Western companies control patents and Chinese companies face technological barriers

Partnership will start with local packaging of imported Covid-19 inoculations and expand to domestic production of 200 million doses a year

Projected first-half volume reflects monthly shipments of 1.2 million doses a month of Covid-19 vaccine from BioNTech’s German facilities