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Swiss private banking firm Julius Baer Group Ltd. and China's Sina Corporation have agreed to invest US$22.9 million in total in Shanghai-based wealth management firm Jupai Holdings Ltd., according to an announcement. Subsidiaries of Julius Baer and Sina will each subscribe to 9.59 million and 2.88 million ordinary shares of Jupai at US$1.83 per share, […]

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Beijing-based P2P (peer-to-peer) lending start-up Weijinsuo has completed a RMB300 million (US$46 million) series A round of financing led by HNA Capital Group Co., Ltd., the financial services arm of Chinese conglomerate HNA Group, according to an announcement (in Chinese). Founded in 2013, Weijinsuo currently has 700,000 registered users and has completed aggregate transaction value […]

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Beijing-based fresh produce e-commerce start-up Benlai Life has received US$30 million series C round of investment from a subsidiary of Joyoung Co., Ltd., a Chinese kitchen and home appliance maker, according to a disclosure document (in Chinese). After the completion of the investment, Joyoung will hold 3.82% of Benlai Life, which indicates that the round […]

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Qingdao, Shandong, December 30, 2015 /ChinaNewswire.com/ – AccorHotels announces the opening of Pullman Qingdao Ziyue. The newly-built hotel featuring 238 rooms is the latest upscale address to be added in the fast growing Pullman network in Greater China where the brand’s portfolio has grown to 26 operating hotels. ‘We are thrilled with the latest opening … Continue reading "Pullman Widens Network Expansion With The Latest Addition In Qingdao"

Shanghai-based Wangcl Glasses, a start-up that allows users to order prescription eyeglasses online, has completed RMB150 million (US$23 million) series B round of financing from two Chinese venture capital firms, according to an announcement (in Chinese) posted on the company's Weibo account. Qifu Capital and Renlan Fund are the two investors. The valuation of the […]

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Shanghai-based Wangcl Glasses, a start-up that allows users to order prescription eyeglasses online, has completed RMB150 million (US$23 million) series B round of financing from two Chinese venture capital firms, according to an announcement (in Chinese) posted on the company's Weibo account. Qifu Capital and Renlan Fund are the two investors. The valuation of the […]

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The domestic re-listing of Chinese online gaming operator Shanda Games Ltd. has stalled after Shenzhen-listed shell company Ningxia Zhongyincashmere International Group was sued by investors for overselling Shanda shares and improperly reducing their stakes, according to public filings (in Chinese). At least seven investors, including Shanghai Haode Asset Management and Ningxia Xiaoguang Equity Investment Partners, […]

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Shanghai-based O2O (online-to-offline) education start-up Fancy Education has completed RMB120 million (US$19 million) series B round of financing led by Chinese venture firm Zhongjinxin Fund, according to Chinese media reports. Existing investor Ameba Capital and other unnamed investors also participated. The company's website posted news of the funding round, but did not provide details. Founded […]

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Nanjing city, Jiangsu province-based rural e-commerce start-up Huitongda has completed RMB500 million (US$77 million) series A+ round of financing from Jiangsu Coastal Capital and Huaxia Life Insurance Co., Ltd., according to Chinese media reports. The round follows a RMB500 million (US$77 million) series A completed in June this year. Chinese smartphone maker Xiaomi Inc. was […]

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Nanjing city, Jiangsu province-based rural e-commerce start-up Huitongda has completed RMB500 million (US$77 million) series A+ round of financing from Jiangsu Coastal Capital and Huaxia Life Insurance Co., Ltd., according to Chinese media reports. The round follows a RMB500 million (US$77 million) series A completed in June this year. Chinese smartphone maker Xiaomi Inc. was […]

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Kunming, Yunnan, December 28, 2015 /ChinaNewswire.com/ – Sofitel, the luxury hotel brand of AccorHotels has announced the opening of Sofitel Kunming, the latest addition to its portfolio in Greater China. The 400-room hotel is the only international luxury hotel in Kunming city centre, a dynamic emerging city that serves as a gateway between South East … Continue reading "Sofitel Kunming Debuts In Yunnan Province"

Chinese entertainment and technology conglomerate LeTV Holdings Group has established an industry fund with a target of RMB10 billion (US$1.5 billion) to invest in big data, artificial intelligence and the entertainment sectors, according to Chinese media reports. LeTV partnered with a newly established Chinese venture capital firm Changshi Capital to launch the Changle Industry Fund, […]

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Guangzhou-based O2O (online-to-offline) e-commerce start-up Xiaoqu Kuaidian has completed RMB200 million (US$31 million) series A round of financing led by two individual investors and others, according to Chinese media reports. The individual investors are two entrepreneurs who founded online gaming platforms Youzu.com and 51.com. The other investors are the start-up's own founding team and unspecified […]

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Chinese Internet security start-up Qingteng Cloud Security has received RMB60 million (US$9.3 million) series A round of financing from China Broadband Capital and Redpoint Ventures, according to a company announcement. Founded in August 2014, Qingteng Cloud Security offers an adaptive security platform that can protect data on various cloud systems. Its technology can forecast, defend […]

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Alibaba Group Holding Ltd. has agreed to invest US$1.25 billion in Shanghai-based food ordering mobile app Ele.me, becoming the O2O (online-to-offline) start-up's biggest shareholder, according to Chinese media reports. The investment values Ele.me at US$4.5 billion post-money. Alibaba would obtain a 27.7% stake in the business based on the valuation. In November, China's biggest ride […]

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Chinese media mogul Bruno Wu's Sun Seven Stars Media Group Ltd. has made a US$10 million strategic investment in NASDAQ-listed Chinese video distributor You On Demand Holdings, Inc., according to a joint announcement. Bruno Wu says in the statement that he plans to develop You On Demand into a next generation service offering in China's […]

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Wanda Sports Holdings Co. says it plans to host its first Ironman event in the city of Xiamen in Eastern China's Fujian province next November, after the sports unit of Dalian Wanda Group completed the acquisition of the World Triathlon Corp last month, according to an announcement. In August, Wanda announced its plans to acquire […]

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Beijing-based home cleaning service booking app eJiaJie, backed by CDH Investments, Tencent Industry Win-Win Fund, DT Capital and others, has applied to list on the National Equities Exchange and Quotations (NEEQ), or China's New Board, according to a disclosure document. Founded in 2012, eJiaJie completed an undisclosed series C round of financing from CDH Investments, […]

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Fritz Demopoulos, founder of Queen's Road Capital and co-founder of Qunar Inc, tells China Money Podcast host Nina Xiang that investors should have a consistent approach in investing in China, as Chinese tech companies have a very long runway to innovate and grow. Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet […]

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Fritz Demopoulos, founder of Queen's Road Capital and co-founder of Qunar Inc, tells China Money Podcast host Nina Xiang that Xiaomi, Didi Kuaidi, the combined Ctrip-Qunar entity all have a chance to disrupt the established players. China will see multiple new companies worth around US$100 billion outside of the BAT in the next five years. […]

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Fritz Demopoulos, founder of Queen's Road Capital and co-founder of Qunar Inc, tells China Money Podcast host Nina Xiang that online games are moving from app-based to HTML5 games. He also shares what he observes as the key trends for online gaming, including innovative monetization and distribution. Visit ChinaMoneyNetwork.com for more daily finance news, including […]

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