Hong Kong billionaire Li Ka-shing’s Horizon Ventures has participated in a US$145 million financing round in U.S. health insurance start-up, Oscar Health Insurance, according to media reports. The round, which values the sixteen-month-old health insurance firm at approximately US$1.5 billion, is led by billionaire investor Peter Thiel and his venture investment vehicle, Founders Fund. Other […]

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Beijing-based P2P (peer to peer) lending platform Jimubox.com has completed US$84 million series C round of financing led by U.K.'s specialist banking and asset management group Investec, according to a company announcement. New investors Mandra Capital, Zhong Capital Fund, L.P. and Haitong Kaiyuan Investment Co., Ltd. also participated in the round. Existing investors Matrix China […]

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The mayors of Hiroshima and Nagasaki, the two cities laid to waste by atomic bombs 70 years ago, call on world leaders to renew their pursuit of complete nuclear disarmament. For too long, citizens have been used as pawns on a global nuclear chessboard…

The mayors of Hiroshima and Nagasaki, the two cities laid to waste by atomic bombs 70 years ago, call on world leaders to renew their pursuit of complete nuclear disarmament. For too long, citizens have been used as pawns on a global nuclear chessboard…

Poorer areas in China choke as efforts to shift heavy industry take effect

China's recent moves to expand its Free Trade Zone (FTZ) scheme will spearhead interest rate and capital account liberalization, as well as full convertibility of the RMB, according to a research report by ANZ. China’s State Council formally announced to launch three more Free Trade Zones (FTZs) in Tianjin, Fujian, and Guangdong province, as well […]

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Beijing-based Cnano Technology Limited, a manufacturer of multi-wall carbon nanotubes products, has completed a US$15 million series C financing round led by GRC SinoGreen Fund, according to a company announcement. New investors, Hotung Investment Holdings Limited and several unnamed entities, as well as existing investors Pangaea Ventures, Presidio Partners, WI Harper Group, IDG Capital Partners […]

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Axalta Coating Systems is expanding its environmental footprint via tree plantings in China. The company this month planted the first lot of trees to start the "Axalta Forest" in Jiangjiakou, Hebei, setting down the roots for a better environment in China and enabled itself be part of the local environmental protection program. The tree-planting initiative […]

Beijing-based cloud-based security firm Anquanbao, backed by Northern Light Ventures and Innovation Works, has been acquired by Chinese search engine Baidu Inc. for an undisclosed amount, according to Chinese media reports. After the completion of the transaction, Anquanbao will become a wholly owned subsidiary of Baidu. Baidu will also push the cooperation and synergy between […]

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Japan-based Rakuten has taken a minority stake in Fanli.com, one of China's online rebate and rebate-based flash sale companies. The C-series round values the Chinese online shopping company at approximately USD1 billion. As part of this investment, Kevin H. Johnson, CEO of Ebates, a Rakuten Group company, will join Fanli's board of directors. Rakuten's investment […]

Shanghai-based Weimob, which provides third-party marketing services to Wechat users, has completed RMB150 million (US$24 million) series B financing led by Shenzhen-listed packaged food manufacturer Jinzi Ham Co., Ltd., according to a securities filing. Jinzi Ham invested RMB126 million. Existing investor Meridian Capital China and an undisclosed individual investor also participated in the round, which […]

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Beijing-based online robot education platform Roborobo has received US$10 million new round of financing from New Oriental Education & Technology Group Inc., according to Chinese media reports. Launched in China in 2008, Roborobo previously received RMB10 million angel investment from Zhen Fund in 2014. ZhenFund is co-founded by Xu Xiaoping, a co-founder of New Oriental […]

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U.S. private equity firm TPG Capital and Shanghai-based Chinese conglomerate Fosun International Limited have agreed to acquire a majority stake in Canadian entertainment firm, Cirque du Soleil, according to a company announcement. TPG is to acquire a majority stake, while Fosun will purchase a minority stake to help the company launch and expand in China. […]

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