Vanke profit

CHINA Vanke Co., a leading property developer, recorded net profit growth of 29.8 percent in the first half of the year, despite a slowdown in the real estate market.

The company’s net profits attributable to its shareholders totaled 11.84 billion yuan (US$1.68 billion), and its revenue rose 31.5 percent year on year to 139.32 billion yuan, according to the company Tuesday.

M&A deals

DEAL volumes of China’s mergers and acquisitions (M&A) increased in most sectors, with high technology investments remaining in the No. 1 in volume terms, according to a latest PwC report.

The report showed an 8 percent increase in the value of domestic strategic M&A with 28 mega-deals and deal volume climbing 12 percent.

Revenue growth

CHINA’S leading online entertainment platform iQIYI reported a 15 percent growth in second-quarter revenue amid a strong rise in subscriber numbers.

The company generated a revenue of about 7.1 billion yuan in the second quarter, according to the company’s unaudited financial results released Tuesday. The number of iQIYI’s total subscribing members reached 100.5 million, an increase of 50 percent from the same period last year, the results showed.

New mechanism

THE country’s securities regulator started seeking public opinions on a side pocket mechanism in mutual funds, to better protect investors, especially small investors.

The China Securities Regulatory Commission said it has drafted a guideline for a side pocket mechanism in mutual funds and started to seek public opinions. A side pocket is a mechanism often used by a fund to keep illiquid, hard-to-value, and often highly risky assets separate from the fund’s other investments.