Today, developing countries and emerging markets say to the US and others: If you will not keep your promises on development aid, at least get out of the way and let us create an international economic architecture that works for the poor. Not surprisi…

Shanghai-based Haochushi, a mobile and online platform letting users hire nearby chefs and cooks to come to their home, has completed RMB100 million (US$16 million) series B round of financing led by Shenzhen Cowin Capital, according to a company announcement. Existing investor Lightspeed Venture Partners also participated. Haochushi says it plans to use the proceeds […]

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Shanghai-based used electronics trading and recycling platform Aihuishou has received US$60 million series C round of financing led by Tiantu Capital, according to Chinese media reports. JD.com Inc., existing investors Morningside Ventures and the International Finance Corporation (IFC) also participated. Aihuishou, which means "love recycling" in Chinese, reportedly completed US$2 million series A funding from […]

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Beijing to cease land reclamation and focus on building facilities on artificial islands

Santa Ana, California-based Cold Genesys Inc., a healthcare firm focusing on the development of oncolytic viruses and immunotherapies for cancer, has completed US$10 million series B round of financing co-led by Ally Bridge Group and WI Harper Group, according to a company announcement. Whitesun Healthcare Ventures and an individual investor also participated. The proceeds will […]

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Casino tycoon sells waterfront home to Chinese billionaire for A$70m

Chinese video sharing platform AcFun has received US$50 million strategic investment from video site Youku Tudou Inc., according to Chinese media reports. AcFun did not respond to an inquiry to confirm the news. China Money Network cannot verify the funding round. Founded in 2007, AcFun provides live comment displays for online video comment sharing. The […]

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About half of available market rescue funds remain unspent

American basketball player Kobe Bryant is bringing his brand to China in a big way. The superstar has signed a deal with Alibaba Group Holding Limited to release Kobe's recent video narrative, "Kobe Bryant's Muse",…

Former Goldman Sachs Partner and Canadian Olympian Michael Evans has been granted the title of President of Alibaba Group. The role, which becomes effective this week, puts Evans in charge of leading and executing Alibaba Group's international growth strategy to globalize the company and grow the business outside of China. He will report to Alibaba […]

The decision on China’s reserve currency status should not be fudged

In only two decades, China has become Southeast Asian countries’ leading economic partner, boosting its influence throughout the region. China’s leaders' constant effort to expand economic cooperation stands in stark contrast to the Americans' approach to the region.