The China Investment Corporation (CIC), the country’s US$200 billion sovereign wealth fund, is planning to create a consortium with domestic steelmakers to launch a counter-bid to Australia-based BHP Billiton’s US$150 billion takeover bid for mining company Rio Tinto, according to the South China Morning Post (subscription required). The Post was...

There is a great article today by Sky Canaves (great name, also) in the Wall Street Journal looking at the rise and rise of Ping An Insurance from a humble bicycle insurer in Shenzhen in 1988 to the leading light in China's effort to develop financial conglomerates to rival the world's biggest.As the government breaks down silos between banking, insu...