Emission curbs

GUANGDONG Province is planning to impose tougher emission curbs on its steel, petrochemical and cement firms starting from June as it bids to meet air quality standards, the Guangdong Environmental Protection Bureau said late Tuesday.

The draft guidelines, currently subject to public consultation, will require all new steel, petrochemical and cement plants to meet tougher standards on particulate matter, sulphur dioxide, nitrogen oxides and volatile organic compounds, starting from June 6.

Truck-hailing firm

JAPAN’S Softbank Group and Alphabet Inc.’s venture capital fund CapitalG are among investors pouring US$1.9 billion into a truck hailing service platform Manbang, the Chinese company said late Tuesday.

Manbang, formally known as Full Truck Alliance Group, said the investment was led by SoftBank’s Vision Fund — which counts Apple Inc., Foxconn and Saudi Arabia’s sovereign wealth fund among its backers.

New fund

A UNIT of Chinese conglomerate HNA Group is seeking to raise as much as US$1.5 billion by the end of this year in an investment fund that will serve as the group’s primary vehicle for global acquisitions, a document showed.

The Overseas Aviation and Tourism Industry Fund will target travel, aviation and real estate assets around the world, according to the document.