Shanghai-based online game developer and operator Giant Interactive Group Inc. says its board of directors has accepted a privatization offer from an investor consortium including the company's chairman Shi Yuzhu, Baring Private Equity Asia and Hony Capital, according to a company announcement. Last December, the consortium proposed to buy all of the New York Stock […]

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Beijing-based Bitcoin exchange platform OKCoin.com says it has completed $10 million series A round of funding at the end of 2013, according to a company announcement. Ceyuan Ventures led the round. Mandra Capital and existing investor VenturesLab also participated. A number of Chinese angel investors including Mike Cai, founder of China Software Developer Network Jiang […]

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The Chinese economy is likely to rebound during the second half of this year, after weakness during the first two quarters. This pattern has repeated itself during the past few years, and is likely to take place again this year, according to a research report released by Gao Hua Securities Company Ltd. For a number […]

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Amid all of its other troubles, Ukraine cannot pay its creditors. Yet even the best efforts by the IMF, the US, and the European Union to restructure the country's debt will be hobbled by investment agreements that they themselves have pressed on Ukrai…

Wuxi, Jiangsu province-based mobile Internet e-commerce company Mmb.cn has received a new round of financing, raising more than $200 million, according to media reports. Tencent and Taiwan-based fabless semiconductor company MediaTek Inc. (MTK) led the round. Existing investor Sequoia Capital also participated. The company previously raised more than RMB400 million ($65 million) from Far East […]

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An estimated 100m people to be added to country’s urban population over next seven years, as Beijing spends on infrastructure to support growth

The author is ANZ greater China chief economist Liu Li-Gang The People's Bank of China (PBoC) announced yesterday on March 15 that it will widen the USD/CNY trading band to 2% from the current 1%, effective from Monday, 17 March 2014. The action follows a move almost two years ago that enlarged the USD/CNY trading […]

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China Central Television published a report on China's economic life between 2013 and 2014 which shows that 81.52% of Chinese families had online shopping experiences in 2013. Compared with other consumer groups, university students and people in management positions shopped online more often, especially those in the 18-25 age demographic. By region, citizens in Hainan, […]

Microsoft Open Technologies Inc. has appointed Yun Langsheng as managing director of its Chinese branch, Microsoft Open Technologies (Shanghai) Co. Ltd. In this new role, Yun will be responsible for establishing the team at Microsoft Open Technologies and managing all projects of this company. Before joining Microsoft, Yu worked for Autodesk. Microsoft Open Technologies Inc. […]

New World Department Store China Limited published its semi-annual performance report and said its and profit both increased. By December 31, 2013, the group's revenue increased by 4.8% year-on-year from HKD2.029 billion to HKD2.125 billion; and it realized a profit increase of 14.5% to HKD345 million. New World Department Store said that to meet the […]

Chinese home appliances maker Midea Group announced its smart home strategy named M-Smart and plans to invest CNY15 billion in smart home research and development over the next three years. Midea will establish four smart home management systems covering air; water; nutrition and health; and energy and security. The company will also launch a smart […]