Best Buy Co., Inc. says that Zhejiang province-based real estate firm Jiayuan Group has agreed to acquire its Five Star electronics business, according to a company announcement. Deal terms were not disclosed. The divestiture to Jiayuan Group, a company led by chairman Shen Yuxing, will not affect Best Buy’s private label operations in China, says […]

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Oil group among several state-owned enterprises to face probe

Drive for legal reform comes amid crackdown on dissent and aggressive anti-corruption campaign

Taiwan-based financial services firm China Development Financial Holding (CDFH) and Fujian Electronics & Information Group have official launched a joint venture RMB-denominated fund with capital commitments of RMB1 billion (US$163 million), according to an official Chinese government media report. The fund, named Hua Chuang (Fujian) Equity Investment Fund, is the first RMB-denominated private equity fund […]

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Six months after completing a US$1.78 billion IPO on the NASDAQ, Beijing-headquartered Chinese e-commerce operator JD.com, Inc. has priced a follow-on offering to sell 26 million American depositary shares (ADS) at US$23.80 apiece by three of its financial shareholders, according to a company announcement. Asia-focused hedge fund Hillhouse Capital Management, DST Global, an investment firm […]

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U.S. chip maker Intel Corporation plans to invest US$1.6 billion to upgrade its chip factory in the city of Chengdu over the next 15 years, in another major push to expand its operations in China, according to a company announcement. The move follows Intel's announcement two months ago that it would invest up to RMB9 […]

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Beijing-based bio-pharmaceutical company CANbridge Life Sciences Ltd. has completed US$10 million series A financing from Qiming Venture Partners and TF Capital, a venture fund started by Chinese contract research organization, Hangzhou Tigermed Consulting Co., according to a company announcement. Founded in 2012, CANbridge has been mostly funded by angel investment from U.S. and Chinese life […]

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Incident highlights dangers lurking in the outer margins of the country’s financial system

Chinese e-commerce company JD.com is working on a crowdfunding platform to support the ongoing work for an international non-government organization. JD.com has partnered with Grameen China, the China-based entity of Grameen Trust, a non-profit and non-government organization committed to the cause of poverty alleviation. The strange announcement from JD.com states the partnership will use JD.com's […]

China's Suning announced plans to increase its strategic investment in PPTV, a Chinese video website. At the same time, its board of directors appointed Fan Zhijun, executive president for Suning in East China, as chairman of the management committee at PPTV. Suning said that over the past year of transition, the strategic integration of PPTV […]