Tag Archives: Country Garden

Ping An leads GBA in Fortune China 500

The prestigious Fortune China 500 list has been released for 2019, with GBA companies standing out in measures of both revenues and profits. Shenzhen-based Ping An, which began as an insurer but is now more of a fintech firm, is the GBA’s leading light, ranking No. 4 in revenues and No. 6 in profits nationwide. 

A total of 86 from the GBA made the top 500. Moreover, 12 of the top 40 most profitable were from the GBA.

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Country Garden buys UK private school

The Nasdaq-listed education affiliate of China’s third largest property developer by sales, Foshan-based Country Garden, has agreed to buy a private high school operator in the U.K. for £150 million, reports Caixin Global.

Bright Scholar Education Holdings Ltd, which operates K-12 international and bilingual schools in China, is to acquire CATS Colleges Division from Cambridge Education Group. 

CATS operates private high schools mainly catering to international students. It has seven campuses globally, including one in Shanghai. Its net revenue was approximately £89 million in 2018. Bright Scholar currently has a network of 62 schools throughout China with more than 42,000 students since establishing its first Country Garden School in Foshan’s Shunde. 

GBA Briefs: 24/6/2019

Foshan MTR Deal: Hong Kong’s MTR Corp has teamed up with Foshan-based property giant, Country Garden, and the local government to set up a smart MRT railway research and development center in the Shunde district. Read more.

Shenzhen Airbus Deal:Shenzhen Eastern General Aviation Company will debut the VIP version of Airbus’ H160 helicopter following an agreement signed at the Paris Air Show. Read more.

Shenzhen Car Quotas:Shenzhen’s new quotas for 40,000 car license plates will be auctioned between June and August, shorter than the originally announced June to December, in response to a central government call to boost vehicle sales in a sluggish market. Read more. 

Guangzhou Airport:Guangzhou’s airport has broken the 10 million annual passenger mark and is rated one of the top 3 in the country together Beijing and Shanghai.Readmore. 

Robots Raising: Shenzhen-based Leju Robotics has raised RMB250 million (US$36.21 million) in a Series B round led by Aplus Capital and an investment vehicle of media firm Shenzhen Press Group. Existing investor Tencent also participated. Read more.

Capital’s Capital Grows:Guangzhou’s balance of deposits and credits (including foreign currency) exceeded RMB10 trillion by the end of May, up 14.6% year-on-year and, ranking first ahead of Beijing, Shanghai, Shenzhen and Tianjin. Read more

Bullet Train Booms:The Hong Kong section of Guangzhou-Shenzhen-Hong Kong Express Rail Link has served over 14 million passengers between the HKSAR and cities in the Mainland since opening last year. Read more

Secure Investment:The security industry in Foshan’s Nanhai district exceeded RMB24 billion in 2018, up nearly 40%, thanks to the construction of science parks, cooperation with Shenzhen and policy support from the government. Foshan is a hub for security and safety equipment manufacturing. Read more

Art Haul: Around RMB 190 million of artwork changed hands over the weekend in Guangzhou, where the 24th Spring Guangzhou Art Fair was held in the Pazhou convention center. A total of 360 art institutions from 38 countries displayed 20,000 paintings, sculptures, installations, videos, new media and other arts. Read more.