Tourism targeted by Beijing as key growth sector in push for more service-sector orientated economy
2015-08-12
Chinese B2C e-commerce provider JD Group and supermarket retailer Yonghui Supermarket announced an O2O strategic agreement under which JD Group will acquire a 10% stake in Yonghui Supermarket for CNY4.3 billion. According to the agreement,…
2015-08-12
PBoC steps in to buttress currency after second big daily decline
2015-08-12
China-based Tencent led the USD90 million investment in Practo, a health and medical information provider in India. On the completion of the investments, Practo's total financing amount will reportedly reach USD124 million and its investors include Google Capital, Sofina, Sequoia Capital, Altimeter Capital, Matrix Partners, and Russian billionaire Yuri Milner. This is one of Tencent's […]
2015-08-12
Zhubaijia, a Shenzhen-based online short-term vacation home rental platform focused on Chinese tourists traveling overseas, has completed RMB200 million (US$31 million) series B round of financing led by CITIC GoldStone Investment Fund, according to Chinese media reports. Other Chinese venture capital firms including AB Capital, Hong Kong-based investment holding company Neway Group Holdings Limited, UC […]
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2015-08-12
Beijing-based installment-based online shopping platform Qufenqi.com has completed US$200 million new round of financing led by Ant Financial Services Group, the financial services arm of Chinese e-commerce giant Alibaba Group Holding, the company confirms the news in an announcement posted on its Weibo account. Existing investors BlueRun Ventures and Source Code Capital also participated in […]
Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in China. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.
2015-08-12
New York-based private equity firm Crestview Partners and China's CITIC Capital Partners have reached a deal to sell their portfolio company, Canadian auto parts maker Stackpole International, to Hong Kong-based Johnson Electric Holdings Limited for as much as US$659 million, according to a company announcement. The all-cash transaction values Stackpole at US$608 million on an […]
Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in China. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.
2015-08-12
Chinese Internet portal Sohu.com recently submitted a regulatory filing in the U.S. for its online gaming subsidiary Changyou.com to sell hree subsidiaries, including two overseas subsidiaries, to third-party buyers for USD205 million. According to the file, Changyou signed decisive agreements in April 2015 to transfer a series of assets. Based on the agreements, Changyou will […]
2015-08-12
In two different seizures last week, the Hong Kong Customs department announced they grabbed both ivory and a bevy of technology equipment. Hong Kong Customs foiled two suspected smuggling cases involving two container trucks at…
2015-08-12
Amid signs of rising regional tension, China, Japan and South Korea are haunted by a bitter shared past
2015-08-12
Officials had tried everything short of devaluation. Finally they succumbed, says George Magnus