‘Unprecedented’ clampdown on worker rights groups comes amid official jitters over economic slowdown
2016-01-11
China's biggest ride share company Didi Kuaidi says its platforms have completed 1.43 billion rides in 2015, nearly twice as much as all taxi bookings in the U.S. last year and 1.4 times that of Uber's total global orders for the past six years cumulatively, says an announcement. Didi Kuaidi's numbers include bookings across private […]
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2016-01-11
The time has come for the great powers to reassess the value of economic sanctions as a diplomatic cudgel. Imposing sanctions may feel good; but the evidence indicates that, to achieve success and avoid unintended consequences, carefully calibrated san…
2016-01-11
Fiil Headphones, an audio equipment start-up founded by Chinese singer Wang Feng, has completed US$20 million series A funding led by Yuanjing Capital, according to an announcement. Several other Chinese investors, whose identities are difficult to determine as there are very little public information about them, also participated in the round. The round values the […]
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2016-01-11
Germany's Metro Group says during 2014/15 financial year ended September 30, 2015, the group realized sales of EUR59.219 billion, a year-on-year decrease of 1.2%. Meanwhile, its sales in the Chinese market still maintained a growth…
2016-01-11
Beijing-based same-city courier service O2O (online-to-offline) platform Yunniao.me has received US$100 million series C financing round led by Warburg Pincus, according to Chinese media reports. Existing investors Matrix Partners, Sequoia Capital and GSR Ventures also participated in the round. The company says it will use the proceeds on research and development, as well as expanding […]
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2016-01-11
Hainan Airlines, China Southern Airlines, and Hainan Airlines' Beijing Capital Airlines announced that due to large amount of consumer complaints, the three companies decided to close their flagship stores on Qunar.com. All the three airlines said that they received too many complaints, including overcharging fees for refunds or changes; adding extra prices when selling tickets; […]
2016-01-11
Asian private equity firm Unitas Capital has canceled fundraising plans for a fourth fund. Its China team, led by Jim Tsao, will join London-headquartered private equity firm Permira, according to media reports. Representatives at Unitas Capital and Permira did not immediately respond to inquiries to confirm the news. Tsao will become chairm and and head […]
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2016-01-11
Shanghai, China, January 11, 2016 /ChinaNewswire.com/ – – GuocoLand Limited (“GuocoLand”) has signed a landmark deal with AccorHotels for the management of the Group’s two new-built hotels at Tanjong Pagar Centre, Singapore and Damansara City, Kuala Lumpur, Malaysia. The Sofitel Singapore City Centre and the Sofitel Kuala Lumpur Damansara, adds a total of 534 rooms … Continue reading "Guocoland Signs Landmark Deal With Accorhotels For New-Built Sofitels In Singapore And Kuala Lumpur"
2016-01-11
58 Daojia Inc., the O2O (online-to-offline) subsidiary of Chinese Craigslist-like platform 58.com Inc., has launched a housekeeping service unit under its brand, entering the booming O2O service category providing cleaning services at consumers' homes. The web portal for the service, called 58 Daojia Jiazheng, is now live. 58 Daojia, which received US$300 million series A […]
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2016-01-11
TPG has named former chief executive officer of the International Finance Corporation (IFC), Jin-Yong Cai, as a partner at the firm in a newly created role helping expand the global private equity giant's investment strategy in emerging and frontier markets, according to an announcement. Cai, a former Goldman Sachs banker, was executive vice president and […]
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2016-01-11
Last year saw China's growth slowing further but the government's intensified policy support helped to prevent a hard landing. The equity market was very volatile and the world was surprised by China's modest but perhaps ill-timed currency move. Here, UBS AG lists five key themes and five big surprises for the year of 2016. Five […]
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2016-01-11
Chinese biopharmaceutical firm Zai Lab Ltd. has secured over US$100 million in series B financing led by Advantech Capital Partners Ltd., an investment fund established by the co-founder of secretive princeling private equity firm New Horizon Capital, says an announcement. Healthcare-dedicated investment firm OrbiMed, existing investors Qiming Ventures Partners, Sequoia Capital China and TF Capital […]
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2016-01-11
Baring Private Equity Asia has competed the acquisition of Chinese company HCP Packaging from TPG Capital for an undisclosed amount, according to an announcement. Last month, Reuters reported that TPG Capital sold Shanghai-based HCP to Baring Asia for US$775 million. Baring Asia will acquire 100% of TPG Capital’s stake in HCP. The deal does not […]
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2016-01-11
Asian-European private equity firm AGIC Capital has joined China National Chemical Corporation and Guoxin International Investment Corporation in a deal to acquire German machinery manufacturer KraussMaffei Group from Onex Corporation for a cash enterprise value of €925 million (US$1.01 billion), according to an announcement. The deal, which is the largest outbound investment from China into […]
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2016-01-11
An entity majority owned by Chinese conglomerate HNA Group has completed the acquisition of Dublin-based aircraft leasing and management services provider Avolon at an enterprise value of approximately US$7.6 billion, according to an announcement. Avolon has ceased trading on the New York Stock Exchange, and is now a wholly-owned subsidiary of Bohai Leasing Co., the […]
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2016-01-11
Hangzhou-based fashion e-commerce start-up Mogujie is taking over control of rival Meilishuo, continuing a trend of consolidation among venture-backed Chinese tech companies from last year. The deal, which is driven by venture backers of both companies, is structured via a combination of stock swap and cash payments, with the new company being led by Mogujie's […]
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2016-01-11
China's WeChat, the instant messaging app by Tencent, has Facebook's WhatsApp, Japan's Line, and Microsoft's Skype service in its sights with a new phone calling service. Tencent's WeChat launched a new function named "WeChat Out", which allows users to call fixed-line phones or mobile phones, aiming to compete with its Asian competitor Line. This new […]