Guo Guangchang, chairman of Chinese conglomerate Fosun Group, has reportedly been taken away by police for potential investigation on accused corruption and stock manipulation, according to Chinese media reports. The 48-year-old Guo, who is often described as China's Warren Buffett, has been unreachable since this afternoon. There were eye-witness reports on Chinese social media of […]

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Public cynicism soars after Beijing ‘airpocalyspse’ fails to trigger red alert

In light of Europe's refugee crisis, not to mention last month's terrorist attacks in Paris, the core principle of a "Europe without borders" has come under attack. But, contrary to popular belief, reinstating border controls would actually undermine E…

Asian Development Bank to aid clean up of Beijing’s air

City’s gambling monopoly sees revenues fall for first time since global financial crisis

Shanghai-based P2P (peer to peer) lending platform China Rapid Finance is planning to raise as much as US$200 million in a U.S. initial public offering potentially during the first half of 2016, according to media reports. In July, China Rapid Finance completed a US$35 million series C round led by Sino-U.S. private equity firm Broadline […]

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Chinese ride share company Didi Kuaidi has launched automobile after-sales services to car owners who use its apps, according to official Chinese media reports. Didi Kuaidi has opened its first car club in Beijing, providing auto insurance, claims, maintenance and repair services. Next, it plans to launch nine more clubs in major Chinese cities including […]

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Shenzhen Zijintongcai Investment Fund Management Co., Ltd. has completed US$60 million series A round of financing led by Tiger Global Management LLC, according to a press conference held yesterday in Shenzhen. Other undisclosed investors also participated. The company says it will use the latest proceeds on launching new products and risk control. Founded in June […]

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Hong Kong-headquartered investment firm Bravia Capital Hong Kong Limited plans to open a new office in Seoul, South Korea. The new office will be headed by Tony Chang, who has joined the firm as vice president and global head of strategic relations. "We are very pleased to be adding Tony Chang to our team. With […]

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Madai Licai, an Internet finance start-up launched by CITIC Private Equity Funds Management Co., Ltd., says it and its strategic partner ChinaTopCredit Inc. have together received RMB420 million (US$65 million) investment from its parent and other investors. In a press conference held in Shanghai earlier this week, CITIC Private Equity, AVIC Trust, Beijing Hualian Department […]

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Shenzhen-listed Chinese diamond jewelry brand Ideal has teamed up with Jinding Capital to launch a RMB600 million (US$93 million) investment fund to back jewelry-related downstream industries, according to a company announcement. The fund will specifically invest in vertical e-commerce platforms, social network-based e-commerce, virtual reality and 3D printing technologies applicable to jewelry productions, as well […]

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U.S. augmented reality (AR) start-up Magic Leap is raising US$827 million in a series C funding round, according to news articles the company posted on its Twitter account. Alibaba Group Holdings Limited is reportedly participating in the round, potentially contributing around US$200 million, says previous media reports. The investor identities of Magic Leap's latest round […]

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Asus announced personnel and organizational changes and promoted former global vice presidents Xu Xianyue and Hu Shubin as chief operating officers of the group. Along with the group's existing COO Chen Yanzheng, Xu and Hu will report to Asus' chief executive officer Jerry Shen, according to reports in Taiwanese local media. Apart from the executive […]

Taiwan-based Asus revealed in its third quarter financial report that the company achieved its goal of shipping 4.8 million laptops in the third quarter of 2015. Meanwhile, the company's total mobile phone shipment was about…

China can no longer ignore the fact that citizens wear face masks to avoid inhaling poisonous dust