Chinese investors want to cash in on the country’s NBA fever with a bid to buy a 15 percent stake in the Cleveland Cavaliers. Chinese-born businessman Kenny Huang is spearheading the deal, estimated to be worth over $70 million. His U.S.-based partner Marc Ganis noted that that if the deal goes through, it would rank as the largest international sports transaction ever made by Chinese nationals. ”Simply having Chinese ownership will increase significantly the visibility of the team within China,” Ganis said. “There will be much more coverage [of the Cavaliers] on the electronic news as well as the printed news. which means the team gets a much broader brand penetration in China for themselves, for their sponsors, and for any other business activities that they may want to engage in.“ China has also begun to encourage foreign-funded firms to a greater degree to make share offerings in China, a senior Ministry of Commerce official today stated during a wide-ranging briefing where he also noted that annual declines in exports and imports began to improve in June. China has talked for at least a decade about allowing foreign firms to list shares domestically, but has made little progress on the initiative. Kenya has been ranked as the country with the highest bribery index in East Africa. In a survey carried out between April and May 2009, Transparency International established that the bribery index in Kenya stands at 45 per cent. Uganda’s bribery index is 35 per cent while Tanzania has the lowest at 17 per cent. The survey shows that the police are the most corrupt officials in East Africa. Releasing the report on Thursday, Transparency International Chief Executive Job Ogonda, revealed that Kenya Police topped the index in the region. ”We will continue to work with other departments on policies regarding domestic IPOs of foreign firms to actively guide high-quality foreign firms to make IPOs in China,” Chen Jian, a vice-commerce minister, told reporters. HSBC, Europe’s largest bank, could be in the running to be the first to list.