Beijing-based Chinese online grocery store Womai.com has completed US$100 million series B financing led by IDG Capital, according to a company announcement. Existing investor SAIF Partners also participated. Even though the specific investment details were not disclosed, but this is reportedly one of the largest investments IDG has made in the e-commerce sector in China. […]

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The escalating conflict in Ukraine between the Western-backed government and Russian-backed separatists has focused attention on the Kremlin’s long-term objectives. Though Russian President Vladimir Putin’s immediate goal may have been limited to retaining some influence in Ukrainian affairs, his longer-term ambition is much bolder.

Chinese search engine operator Baidu Inc. has acquired Chinese online education platform Chuanke.com, according to Chinese media reports. Details of the transaction are not disclosed. Founded in 2011, Chuanke.com received several millions RMB angel investments from K2 Ventures and Ameba Capital in 2011. It received several million U.S. dollars series A financing from Bertelsmann Asia […]

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Shanghai-based cloud storage service provider Qiniu.com has received tens of millions U.S. dollars series C financing led by CBC Capital, according to the company’s official announcement on Weibo. Existing investors Matrix Partners and Qiming Venture Partners also participated in the round. The proceeds will be used for developing Qiniu's infrastructures and cloud systems, says the […]

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Mainland China-based companies are allowed to engage in a wider range of RMB derivatives trading today as a result of the implementation of a regulation by China's State Administration of Foreign Exchange (SAFE). Besides the simple buying and selling of currency call and put options, onshore Chinese companies can now be engaged in the trading […]

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After three decades of remarkable growth, China’s economy has been slowing. The country needs to implement the announced reform agenda and address vulnerabilities to secure a safer development path, says the International Monetary Fund (IMF) in a new paper. China should accept somewhat lower growth in the near term and deploy a stimulus only if […]

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In a latest report, BofA Merrill Lynch Global Research provides a preview of China's key July economic indicators, predicting that China's official Purchasing Managers Index (PMI) and fixed asset investment growth could edge up, while most other data may show improvement as well. China's PMI could improve to 51.1 in July from 51.0 in June, […]

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San Francisco-based mobile game developer Kabam Inc. says it has entered into a strategic collaboration with China's Alibaba Group to publish popular Kabam mobile games in China across Alibaba Group’s mobile applications including Mobile Taobao and messaging app Laiwang, according to a company announcement made by Kabam. Kabam will also receive an investment of approximately […]

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Lenovo Group announced in Beijing that the company has launched an Internet business platform named Lenovo New Business Development and the platform also released the first batch of three innovative products: smart glasses, smart air purifier, and smart router. Adopting equity participation and collaboration methods, Lenovo NBD opens its software and hardware development, market, channel, […]

Number of people joining Chinese party falls for first time in a decade as crackdown on corruption reduces allure of working for authoritarian state