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mobile6Haiyin Venture Partners has led a series C round worth around US$30 million in Testin, a Beijing-based start-up that provides one-stop cloud testing services to mobile app and games developers, according to Chinese media reports. Existing investors Banyan and IDG Capital Partners also participated in the round. Founded in 2011, Testin previously received tens of […]

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baitaoChina Central Huijin Investment Ltd. is to appoint Bai Tao, a vice president at China Life Insurance Co., Ltd., as its general manager, Caixin Media reported citing people familiar with the matter. The appointment, yet to be officially announced, came one year after former Central Huijin general manager Xie Zhichun resigned. Xie was also the […]

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insta360A unit of Suning Commerce Group has made an undisclosed strategic investment in Shenzhen-based virtual reality camera maker, Insta360, with an eye to help sell the company's products via its online and offline channels. The news follows the completion of a series B funding round worth several hundred million RMB in April, led by Chinese […]

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leseeLeEco's smart car business has taken a solid step forward, as the company and the Zhejiang provincial government jointly announced plans to build a car plant and an automobile tourism destination with an expected RMB20 billion (US$3 billion) total investment. The project, to be located in a mountainous area named Moganshan in Zhejiang in eastern […]

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carUcar Group, a mobile app-based chauffeured car service unit launched by Chinese rental car firm Car Inc., saw losses increase 74%, or RMB1 billion (US$150 million), during the first half to RMB2.37 billion (US$356 million), according to a newly released half-year report (in Chinese). The offshoot of Car Inc., backed by Warburg Pincus LLC, Legend […]

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logisticsCainiao Network, Alibaba Group Holding Ltd.'s logistics affiliate with backings from Singapore's GIC and Temasek Holdings, has seen losses expand nearly four times during the second quarter, Alibaba's quarterly results showed. Cainiao recorded RMB227 million in losses during the second quarter, compared to RMB59 million during the same period last year and RMB94 million the […]

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hire-peopleTPG has named Sanghoon Lee as a partner at the global private equity giant, responsible for leading TPG Capital Asia’s investment activities in South Korea, the firm announced today. Lee most recently served as managing director and head of Korea for Morgan Stanley Private Equity. Before joining Morgan Stanley in 2010, Lee was with Merrill […]

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movieBertelsmann Asia Investments (BAI) has led a series A funding round in Chinese movie commentary and content platform Dushe, with participation from existing investors Neowing Venture Captial and Yonghua Capital, according to Chinese media reports. The round reportedly values the movie content producer at RMB300 million (US$45 million). The investment value was not disclosed, but […]

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industrialLos Angeles-based private equity firm Platinum Equity, LLC has agreed to acquire two Chinese businesses from Singapore's investment holding firm, Broadway Industrial Group Ltd., according to a company announcement. The companies being acquired include Foam Plastic Solutions, a supplier of protective packaging, insulation and component products to the consumer electronics, automotive, and medical markets, as […]

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healthcareLilly Asia Ventures has led a US$20 million series A financing round in Singlera Genomics, a non-invasive genetic testing company based in La Jolla and Shanghai, according to an announcement. Green Pine Capital Partners, CDBI Partners and other investors also participated in the round, which will be used to help Singlera expand the commercialization of […]

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carrentalDidi Chuxing, China's largest ride share company, says it has launched its own online car rental business through an asset-light model in cooperation with existing leasing companies, says a company announcement. This is DiDi’s latest step to build upon its taxi and car hauling services, following previous expansions into auto repair and online car sales. […]

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Internet financeThe China Banking Regulatory Commission appears ready to issue new guidelines that will cap P2P lending and curtail some of …

bikeMobike, a Shanghai bike sharing start-up founded by a former Uber manager in the Chinese city, is discovering that some Chinese users like to ride the bike but don't want to share with others. The company's mobile app allows users to find the closest bikes, then by scanning a QR code on the bike to […]

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Chinese fashion and textilesYoung Chinese consumers eyeing overseas fashion and products are the targets for a mobile app flush with new funding. An …

bikePanda Capital has led a US$10 million series B round in Mobike, a Shanghai-based mobile app that allows users to rent bikes for short distance commute, according to Chinese media reports. Joy Capital also participated in the round. Launched in December 2015, Mobike operates its own bike fleet equipped with self developed smart lock and […]

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dalingAn unnamed Chinese RMB fund has led a RMB300 million (US$45 million) series C round of financing in Beijing-based mobile e-commerce firm Daling, with participation from existing investors Capital Today, IDG Capital and Sequoia Capital, says Chinese media reports. The round follows a series B financing round led by Capital Today the company completed in […]

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tvMango TV, Hunan Satellite TV's online video unit with backings from Chinese private equity investors, is seeking to list via a reverse merger with Shenzhen-listed Happigo Home Shopping Co., Ltd., according to a disclosure filing (in Chinese). Hunan Satellite TV, a leader in China's television and online entertainment sector, will inject seven subsidiaries into Chinese […]

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money-backChinese regulators are considering new rules to cap P2P (peer-to-peer) lending in order to control risk and protect investors, eight months after it initiated a campaign to "clean up" faulty P2P lenders, according to Chinese media reports. An individual lender can provide loans of no more than RMB200,000 (US$29.976) on one P2P platform, and can […]

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asian-zipaiMeitu Inc., a photo retouch app developer backed by Qiming Venture Parnters, IDG Capital Partners and others, is planning to raise US$500 million to US$1 billion via an initial public offering in Hong Kong, according to a securities filing. The IPO, expected in the fourth quarter, values the company at US$5 billion and will pave […]

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sports copy 3CMC Holdings, an investment vehicle affiliated with China Media Capital (CMC), has invested in a series B funding round in Cubee Technology, a Chinese sports data service provider. The company announced the news during a press conference in Shanghai today, without disclosing the dollar value of the investment. Established in 2012, Cubee Technology provides sports […]

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vankeChina's insurance regulator voiced concerns over Chinese insurers' aggressive moves in the country's stock market, signaling that stricter control measures might be in the works. Insurance companies are risk managers, not risk creators, said Xiang Junbo, the chairman of China Insurance Regulatory Commission (CIRC), during an annual insurance development conference yesterday. Xiang warned that the […]

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