Chinese online healthcare services platform 91160 has completed RMB130 million (US$21 million) series B funding from Shenzhen Costone Venture Capital and GX Capital, according to Chinese media reports. Founded in 2015, 91160 previously raised RMB5 million angel investment in 2012, and RMB25 million series A funding in 2014, both from Shenzhen-based QF Capital. 91160 currently […]

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Chinese sovereign wealth fund China Investment Corp (CIC) has joined forces with state-owned COFCO (China National Cereals, Oils and Foodstuffs Corporation) to establish a joint venture to create a global agribusiness giant, according to media reports. No details of the joint venture are disclosed, but it is reported that COFCO is to hold 80.1% of […]

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Chinese Internet giant Tencent Holdings Limited has acquired approximately 20% of U.S. mobile games firm Pocket Gems Inc. for US$60 million, according to a message posted on the company's Twitter account. The investment follows a slew of deals in the gaming sector for the Chinese Internet giant. Last month, Tencent agreed to acquire 14.6% of […]

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Technology and agribusiness draw interest and funds

Beijing-based face recognition technology firm Face++ has completed US$25 million series B+ round of financing led by undisclosed investors, according to Chinese media reports. Founded in 2012, Face++ provides free application programming interface (API) and software development kit (SDK) of face detection, recognition and analysis. It received angel investment from Legend Star, a Chinese incubator […]

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Taiwan-based bio-pharmaceutical firm JHL Biotech, Inc. has completed US$45.6 million series C round of financing led by an unnamed investor, ahead of the company's planned initial public offering, according to a company announcement. The lead investor is described as a global crossover fund with over US$1.6 trillion in assets-under-management. Existing investor Milestone Capital, as well […]

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Beijing-based online video firm Leshi Internet Information & Technology Corp.’s sports affiliate has completed RMB800 million (US$129 million) new round of financing from Dalian Wanda Group, Yunfeng Capital, and other undisclosed investors, according to a regulatory filing. The round values the affiliate, Letv Sports Culture Develop (Beijing) Co., at approximately RMB2.8 billion (US$451 million). Media […]

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Global asset management firm Neuberger Berman has appointed Kent Chen as managing director and head of its private equity business in the Asia Pacific region, according to a company announcement. In this newly-created role based in Hong Kong, Chen will advise local clients and lead the firm's regional efforts investing in global private equity across […]

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Beijing-based Chinese oncology research and development firm BeiGene (Beijing), Co., Ltd. has completed a new round of financing worth RMB600 million (US$97 million) co-led by Hillhouse Capital and an undisclosed U.S. public investment fund specializing in life sciences, according to a company announcement. CITIC Private Equity, the private equity arm of CITIC Capital Partners, together […]

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Hong Kong's Hutchison Whampoa Limited, which just finished its acquisition of UK carrier O2 and integrated its UK telecom assets, announced that the company has entered into agreements with multiple investors who will acquire stakes totaling 33% in the combined businesses of Three and O2 UK for a total consideration of GBP3.1 billion. According to […]

Alibaba's B2C platform Tmall.com is about to open a new channel for Chinese moviegoers to acquire exclusive Disney products. Tmall.com has teamed up with The Walt Disney Company to be the first exclusive distributor of their Marvel Studio's "Avengers: Age of Ultron" merchandise on Tmall.com. These superhero themed merchandise are now available on Disney's flagship […]

China's new RMB loans was recorded at RMB708 billion in April, less than market consensus of RMB903 billion and compares to RMB775 billion a year ago, according to data released by the People’s Bank of China. Total social financing aggregate came in at RMB1.05 trillion in April, lower than market consensus of RMB1.2 trillion and […]

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