Official had been responsible for fiscal spending, tax collection and state bond issuance

Billionaire rebuked after labelling China ‘root cause’ of bear market

The unusually large divergence of trade data between Hong Kong and the mainland indicates the use of trade channel for financial arbitrages might have expanded last month, says a research report by ANZ. China’s customs data indicated a surge in mainland’s exports to and imports from Hong Kong by 11% and 64% year-on-year, respectively. Hong […]

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China's biggest ride share company Didi Kuaidi has received a strategic investment from China Merchants Bank Co., Ltd., as part of a wider strategic partnership between the two companies, the pair said in a press conference today. The companies did not disclose any details of the investment, but said they would work together on mobile […]

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Du Yao, a book and movie review mobile app founded eight months ago by former chief executive of Shanda Literature Hou Xiaoqiang, has completed series A+ funding round securing over US$10 million led by Yunfeng Capital, according to a company announcement. Existing investor SIG Asia Investments also participated. The mobile app, whose name means "poison", […]

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Florence-headquartered luxury shoe brand Aquazzura plans to open its first Asian store in Hong Kong at the end of 2016. Edgardo Osorio, co-founder and creative director of Aquazzura, said that Hong Kong is a window…

Chinese movie and television production firm Helichenguang International Culture Media (Beijing) Co., Ltd. has completed RMB629 million (US$96 million) series B round of financing with a post-money valuation of RMB3.3 billion (US$502 million), according to Chinese media reports. Investors in the round include CITIC Kingview Capital Management, Shanghai GP Capital, China Merchants Wealth, China Cinda […]

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Shanghai government has released a new policy to compensate investment losses for angel investors, effective February 1, to promote innovation and angel investments in the city. In an announcement (in Chinese), the Shanghai Science and Technology Committee (STCSM), together with the city's finance bureau and its development and reform commission, proposes to compensate as much […]

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Chinese pharmaceutical start-up CARsgen Therapeutics has completed a US$30 million series B round of financing led by KTB Ventures and Jolly Innovation Ventures, according to an announcement. Kaitai Capital and JIC GenesisFountain Healthcare Ventures also participated in the round. As part of the round, Chi Hoon Hyun of KTB Ventures will join the board of […]

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Clearer communication alone will not help the renminbi