China's Super Rich Flock Into U.S. Property Market

A young Chinese couple threw $34.5 million into a luxury mansion in Hollywood, making themselves a new neighbor of David Beckham, Jennifer Lopez and George Clooney.

News of the purchase sparked a flurry of speculation on the Internet that the young millionaire could be the son of Ning Gaoning, the former chairman of a state-owned Chinese conglomerate COFCO, as Ning is an uncommon family name among China’s bigwigs.

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CNOOC to buy Nexen for $15.1 billion in China's largest foreign deal

State-controlled CNOOC Ltd launched China's richest foreign takeover bid yet on Monday by agreeing to buy Canadian oil producer Nexen Inc for $15.1 billion, forcing Ottawa to decide whether security concerns outweigh its desire for foreign investment in its energy resources.

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