Asia ex-Japan hedge funds suffered their worst month in June since 2013, down 1.58% and recorded US$1 billion performance-based losses as the Shenzhen and Shanghai Composite Indices declined by 11.78% and 7.25% during the month respectively, according to data released by Eurekahedge. Globally, after five months of consecutive gains, hedge funds posted their first monthly […]

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Beijing-based cosmetic surgery mobile app GengMei has completed tens of million U.S. dollar series B round of financing led by Vivo Capital, according to Chinese media reports. Sequoia Capital also participated. The company says it will use the proceeds to expand its scope of services to areas including dental, skincare, nutrition, and anti-aging. Launched in […]

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Ventures launched range from suitcase rental to storage services

Chinese e-commerce firm Alibaba says its Aliyun cloud computing subsidiary has a new data protection pact that supposedly protects user data. At an event held today in Beijing, Simon Hu, president of Aliyun, announced the pact and promised to abide by this pledge to protect user data and business data privacy for all of its […]

Huawei’s consumer segment detail shows competitive edge

If you are a company in the United States, how can you trust that the money you send to a Chinese company will result in that company honestly sending you the purchased products? Many foreign…

Chinese e-commerce company Alibaba Group announced a comprehensive strategic partnership to enable Unilever to reach customers across China. Through this strategic partnership, Alibaba Group and Unilever China will work together to strengthen cooperati…

Whitehall rebukes decision to prioritise economic issues

Shanghai-based Chinese online classified advertising firm Baixing.com has reportedly received RMB2.2 billion (US$354 million) series E financing from CITIC, Suzhou High-tech Venture Capital Group, Shenzhen Capital Group, and other investors, according to Chinese media reports. After the latest financing round, Baixing.com is said to plan an initial public offering on China's domestic stock exchanges. Representatives […]

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Beijing-based mobile app testing firm Testin has raised US$54.9 million series B round of funding led by Haiyin Capital, according to Chinese media reports. IDG Capital Partners and Banyan Capital also participated in the round. Founded in 2011, Testin provides testing and analysis services for mobile app makers before their product launch. Visit ChinaMoneyNetwork.com for […]

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China's Inspur will invest CNY10 billion to distribute cloud computing data centers across the entire country. Inspur said that with solutions for the secure cloud, industrial cloud, and service cloud, Inspur will provide comprehensive cloud services to regional governments, industrial companies, and large enterprises. Inspur further revealed that the CNY10 billion investment will be used […]

Policymakers must do more to reform underlying structural problems, writes Henry Paulson