During the three-years period until March 2014, venture capital funds globally have produced average returns of 12.7%, a significant improvement over the lackluster returns seen during the prior decade following the dot-com crash, according to figures released by data tracker Preqin. The second quarter of 2014 set a record in terms of capital invested in […]

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New York Stock Exchange-listed Chinese Craigslist-like platform 58.com Inc., backed by private equity firms Warburg Pincus and SAIF Partners, says it has acquired Chinese recruitment platform M91.cn for an undisclosed amount, according to Chinese media reports. Founded in 2004, M91.cn focuses on providing recruitment services specifically for sales representatives across China in various industries. The […]

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Beijing-based Chinese sporting goods firm Li-Ning Co. Ltd., backed by TPG Capital and Singapore's sovereign fund GIC, says that Jin-Goon Kim has stepped down as interim chief executive, according to a securities filing submitted by the Hong Kong-listed company. The company's founder, Olympic gymnast Li Ning, will take over on an interim basis before the […]

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Asia ex-Japan focused hedge funds are up 7.44% year-to-date until October, outperforming the MSCI Asia ex Japan Index by almost three percentage points, and also beating global hedge funds' performance of up 3.45% during the same period, according to data tracker Eurekahedge. Asia ex-Japan hedge funds have also grown their asset base by US$11.2 billion […]

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Shenzhen-listed movie, television and music production firm Huayi Brothers Media Corp. plans to raise RMB3.6 billion (US$588 million) by issuing 145 million shares at RMB24.83 per share to four Chinese institutions in a private placement deal, according to a securities filing. Hangzhou Ali Venture Investment Co., Ltd., an entity 80% controlled by Alibaba Group Holdings' […]

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Amazon.cn announced that its Chinese-language international shopping store started trial operation this past week. The overseas products purchased by Chinese consumers will be delivered to them in an average of two weeks, with expedited shipping times of as little as three days. Consumers can directly visit Z.cn to access the full Chinese-language Amazon international shopping […]

Countries say they will strengthen military ties to counter US influence in Asia-Pacific region

The persistent weakness in the VIP business in Macau means its gaming revenue growth may stay flat for 2014, and may decline during 2015, estimates Fitch Ratings. The weakness may persist through the first half of 2015, until Galaxy Entertainment and Melco Crown open the Galaxy Macau expansion and Studio City, respectively, and when VIP […]

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‘No logic’ to attempt by group of protesters to storm government offices

LinkedIn China recently announced that Yu Zhiwei, former vice president of China HP, has joined the company as marketing vice president. Yu will directly report to Shen Boyang, LinkedIn global vice president and China president. According to Shen, LinkedIn China's executive team will continue to maintain its localization trend and its overall strength has been […]

A new equity scheme reveals Beijing’s geostrategic priorities