In the news: PE and VC may get single regulator, plus $7.1 billion pork deal and cross-strait trade service agreement

CSRC to regulate PE and VC

China Daily cited the Securities Times announcing that Premier Li Keqiang's State Commission Office for Public Reform is considering delegating the China Securities and Regulatory Commission as the exclusive regulator for the private equity (PE) and venture capital (VC) industry.

The CSRC and the National Development and Reform Commission (NDRC) regulate both industries at present. The NDRC is the country's top economic planning agency and has controlled these markets in the past. The move can be seen as a major effort to standardise this sector.

Market participants will welcome the change, as it allows for a single regulator. This is something professionals have been wanting, especially as it will increase certainty when making long-term investments. The NDRC has also regulated the PE and VC market for years, causing a back log in initial public offerings, the main exit route for PE investors.

Shuanghui buys US meat processor for $7 billion

Shanghui, China's largest publically-traded meat processing enterprise, has agreed to acquire Smithfield Foods, its US pork counterpart for $7.1 billion, creating one of the world's largest pork production, processing and packaged meat companies.