Shanghai-based online travel community and information sharing mobile app 117go.com has received a new round of financing led by New Horizon Capital, according to an announcement made by 117go's financial adviser, China eCapital Corporation. LakeSide Fund, IDG Capital and Redpoint Ventures also participated in the round. The fundraising size was not disclosed. In 2014, 117go.com […]

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Shanghai-listed Chinese sporting goods firm Guirenniao Co., Ltd. plans to jointly establish an industry investment fund with online sports portal Hupu.com, as part of a strategic partnership to establish a major O2O (online-to-offline) platform in the sports sector in China, according to a securities filing. The fund aims to raise a total of RMB2 billion […]

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With signs pointing to mounting turmoil among North Korea's ruling elite, the time has come for China, South Korea, and the US to define their roles should the Kim regime collapse. While the US would be required to intervene in any military confrontati…

China’s GDP growth expanded by 7.4% in 2014, the slowest pace since 1990 and down from 7.7% in 2013, according to China's National Bureau of Statistics. This is also the first time that China missed the annual growth target since 1998. For the fourth quarter of 2014, the economy grew 7.3%, beating market expectations and […]

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Japanese corporation Itochu Corporation and Thai conglomerate Charoen Pokphand Group are to jointly acquire a 20% stake in Hong Kong-listed financial services firm, CITIC Limited, for approximately HK$80 billion (US$10.4 billion), according to a company announcement. The investment will be made through a joint investment vehicle, Chia Tai Bright Investment Company Limited, of which Itochu […]

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Pak-Seng Lai, managing partner of Shanghai-based Vision Knight Capital, is leaving the company after just six month at the US$800 million-under-management private equity firm, according to media reports. Representatives at Vision Knight did not respond to inquiries to confirm the news. Pak-Seng Lai, previously managing director and head of Asia at German private equity firm […]

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Chinese president’s new base salary increases to $22,256 a year

True employment numbers raise questions over Beijing’s nonchalance in the face of economic slowdown

According to Angela Ahrendts, Apple's senior vice president of retail and online stores, the company plans to open five new retail stores in China before the Chinese Lunar New Year. Its new store in Zhengzhou, Henan, has opened to customers and another new store in Hangzhou will be opened on January 24, 2015. Chinese Lunar […]

Starbucks China recently announced that the company's first flagship store in Southwest and Central China regions has been officially opened in Chengdu, Sichuan. Meanwhile, the cafe chain launched a talent communication program specially designed for Chinese store partners and employees that aims to further improve the partner experience. Locating at Sino-Ocean Taikoo Li Chengdu, the […]

CSRC says market should not ‘over-interpret’ margin trading curbs on brokerages

Italian cosmetics and skin care products developer and manufacturer Intercos S.p.A. says it has completed a round of financing led by U.S. private equity firm Catterton Partners, with China-focused private equity firm ClearVue Partners as a co-investor in the deal, according to an emailed announcement. In return, the investors obtained a significant minority ownership of […]

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Annual expansion slips to 7.4% as slowdown continues, putting growth model under further pressure

Following its recent partnership with Coolpad for smartphone development, Chinese Internet security software provider Qihoo 360 has now announced a new smart hardware joint venture project. Qihoo 360 officially confirmed that the company will invest CNY200 million to establish a joint venture with Netcore that aims to explore the Internet smart router market. Zhou Hongyi, […]