Shanghai-based cloud computing service provider UCloud has completed US$100 million series C round of financing led by Legend Capital, according to a company announcement. VMS Legend Investment Fund, DCM, Bertelsmann Asia Investments, and GX Capital also participated. The company says it will use the proceeds on technology development, hiring new talents, marketing, and expanding into […]

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Subdued demand and falling oil prices pull CPI below goal of ‘around 3%’ again

CITIC Capital has sold its 1.96% stake in Hong Kong-listed bad debt manager, China Cinda Asset Management Co. Ltd., for a total of HK$1.09 billion (US$140 million), according to media reports. CITIC Capital offloaded 229.2 million shares at HK$4.75 per share, a 2.5% discount to Thursday's closing price of HK$4.87. In March 2012, CITIC Capital […]

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China's consumer price index (CPI) remained steady in March, increasing 1.4% year-on-year, according to data released by China's National Bureau of Statistics. On a monthly basis, the CPI fell by 0.5%, from 1.2% previously, as food prices declined after the Chinese New Year. Producer price index (PPI) continues to fall, declining by 4.6% year-on-year in […]

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Beijing-based P2P (peer to peer) lending platform 9fbank has completed US$110 million new round of financing led by IDG Capital Partners and SIG Asia, according to a company announcement. Other individual investors and Chinese investment firms also participated in the round, which was completed at the beginning of this year and included US$20 million of […]

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Youzu Interactive Co., Ltd, a web and mobile game platform in China, will invest CNY538 million to acquire the entire stake in Guangzhou Zhangtao Network Technology Co., Ltd. According to the report, Youzu will purchase the 100% stake in Zhangtao Technology from ten sellers by paying cash and newly issued shares. Youzu said that with […]