U.S.-based Worthington Industries Inc. has inked a joint venture deal for a new steel factory in Pinghu, Zhejiang. The facility near Shanghai will produce cold rolled strip steel primarily for the automotive industry with an annual capacity of approximately 130,000 tons. Worthington will join Nisshin Steel Company Ltd. and Marubeni-Itochu Steel Inc. in the venture […]
2013-10-04
More Chinese flocked to Hong Kong during the first six months of 2013 than in the same period in 2012. The Hong Kong Tourism Board announced that mainland Chinese visitor arrivals were up 16.2% in the first two quarters of 2013, over the same period from the previous year. Hong Kong also registered 12 million […]
2013-10-04
California-based mobile app search engine Quixey says it has closed series C financing of $50 million led by Alibaba Group. New investor GGV Capital and existing investors Atlantic Bridge, Innovation Endeavors, Translink Capital, U.S. Venture Partners and WI Harper also participated in the round. "Next year, 95% of the world’s population will have mobile access, […]
Visit ChinaMoneyNetwork.com for more great China Money Podcast audio and video Internet episodes covering important investment news and financial events in China, as well as daily news updates on important China business news happenings. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.
2013-10-04
Guangzhou-based Chinese web game developer Forgame Holdings Ltd. completed an IPO on the Hong Kong Stock Exchange, raising about $206 million. U.S. private equity firm TA Associates and Chinese venture capital firm Qiming Venture Partners are minority shareholders of Forgame. Before the IPO, TA Associates holds a 20.1% stake while Qiming Venture has a 5.79% […]
Visit ChinaMoneyNetwork.com for more great China Money Podcast audio and video Internet episodes covering important investment news and financial events in China, as well as daily news updates on important China business news happenings. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.
2013-10-04
NASDAQ-listed Chinese advertising agency Charm Communications Inc. says it has received a preliminary non-binding proposal from an investor consortium including the company's founder and chief executive He Dang to take the company private. Hong Kong-based Chinese private equity firm China Media Capital is supporting the management buyout of the Beijing-based Charm Communications. The investor consortium […]
Visit ChinaMoneyNetwork.com for more great China Money Podcast audio and video Internet episodes covering important investment news and financial events in China, as well as daily news updates on important China business news happenings. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.
2013-10-04
Beijing-based Internet data center services provider 21Vianet Group Inc. says that Singapore's sovereign wealth fund Temasek Holdings has entered into a definitive agreement to make a $100 million investment in 21Vianet. After the closing of the deal, Temasek will hold approximately 10% of NASDAQ-listed 21Vianet. Approximately 87% of the investment by Temasek will be newly […]
Visit ChinaMoneyNetwork.com for more great China Money Podcast audio and video Internet episodes covering important investment news and financial events in China, as well as daily news updates on important China business news happenings. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.
2013-10-04
Twitter's just-released initial public offering prospectus shows China is still an important deficit in its global growth strategy. In Twitter's F-1 IPO statement, the company said it is raising USD1 billion, which is largely a pro forma number until the company calculates fees and eyes its roadshow. The company recorded USD317 million in revenue in […]
2013-10-04
UK ministers are hoping to seal the rapprochement with investment deals, after a cold snap in relations caused by the PM’s meeting with the Dalai Lama
2013-10-04
Chinese search engine provider Baidu Inc. formally launched its system tool software named Baidu Guard 1.0 and the company also announced that its anti-virus software has gained over ten million users. On April 18, 2013, Baidu started the public beta test of its anti-virus software in China and the product was officially launched in June. […]