Everbright-IDG Industrial Fund, a joint venture investment vehicle established by China Everbright Ltd. and IDG Capital Partners, has invested RMB2 billion (US$297 million) in China UnionPay Merchant Services Co., Ltd., an acquirer handling payment services for China UnionPay-labeled cards. After the completion of the transaction, Everbright-IDG Industrial Fund will become the second largest shareholder of […]

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