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Aggregated China Law Information

Beijing-based online education platform Genshuixue has completed US$50 million series A financing led by Banyan Capital, according to announcements posted on the company's official Weibo account. Chinese venture firms QF Capital and GP Capital also participated. The round values the nine-month-old company at US$250 million. The financing round, which includes US$41 million from the three […]

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Shanghai-based Chinese digital media and display advertising company Focus Media Holding Limited is planning to list on the Chinese A-share market via a reverse merger, potentially raising a total of RMB9.2 billion (US$1.5 billion), according to leaked investor documents reported by Chinese media. After being taken private from the NASDAQ by company founder and a […]

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Aliyun, the cloud computing subsidiary of Alibaba Group Holdings, has launched a Founder+ program, with support from over 30 Chinese venture capital firms, more than 20 incubators and industrial parks, as well as dozens of developer service providers, according to an announcement posted on Aliyun's Weibo account. Chinese angel and venture firms including the ZhenFund, […]

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Beijing-based online community services O2O (online-to-office) platform Beequick has completed US$20 million series B financing led by Hillhouse Capital, according to Chinese media reports. Existing investor, Sequoia Capital, also participated in the round, which reportedly values the ten-month-old business at US$200 million. Launched in May 2014, Beequick received several million RMB angel investment from Chinese […]

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BPE Asia Real Estate, an affiliate of Baring Private Equity Asia, has raised US$365 million for its inaugural real estate fund. Named BPE Asia Real Estate Fund, it is one of the largest first time real estate funds raised by an independently owned manager in Asia, according to a company announcement. The news came one […]

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Shanghai-based Chinese health checkup clinic network Meinian Onehealth Healthcare (Group) Co., backed by the Carlyle Group, plans to list on the Shenzhen Stock Exchange via a reverse merger with Jiangsu Sanyou Group, according to a regulatory filing. Jiangsu Sanyou is to acquire 100% of Meinian Onehealth through share swap and new share issuance worth around […]

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Beijing-based online education platform Yuantiku has completed US$60 million series D financing led by CMC Capital Partners and New Horizon Capital, according to Chinese media reports. Existing investors, Matrix Partners China and IDG Capital Partners, also participated in the round. The latest round reportedly values the company at US$360 million. The team behind Yuantiku previously […]

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Beijing-based online education platform 17zuoye.com has completed US$100 million series D financing led by H Capital, according to a company announcement. Singapore's Temasek Holdings, DST Global, and Shunwei Capital also participated in the round. Founded in 2011, 17zuoye.com previously received angel funding from Chinese entrepreneurs and angel investors Wang Qiang and Xu Xiaoping in 2011, […]

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The Australia and New Zealand Banking Group Limited (ANZ) has made a number of senior appointments in its RMB banking and trading teams, in an effort to support growing volumes of RMB denominated cross-border financing activities, according to a company announcement. Lucy Chen has been recruited as global head of RMB transaction banking, a new […]

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Police have arrested a minibus driver after a wheel flew from his vehicle and fatally struck a pedestrian in Kwun Tong.

 

The accident happened on Kwun Tong Road about 9.40am today.

 

The 44-year-old woman victim was sent to United Christian Hospital where she was certified dead.

 

The 42-year-old male driver was arrested for dangerous driving causing death.

 

Witnesses should call investigators on 2305 7500.

Tencent Interactive Entertainment Group will establish a new animation business unit and a film and copyright business unit to enable the independent operations of those businesses. The new animation business unit will be responsible for development and operation of animation-related content, including planning, development and operation of animation products; creating and operation of animation content; […]

Secretary for Justice Rimsky Yuen hopes to fight for the lowest threshold so that more people interested in becoming candidates in the 2017 Chief Executive election may have the chance to stand before the nominating committee.

 

After attending an event today, Mr Yuen told reporters he is reviewing comments received in the second stage consultation on political reform.

 

Proposals received suggest several different thresholds for the hopefuls for the 2017 Chief Executive election. They suggest the minimum number of nominations is set at 100 to 150, to secure moving on to the committee’s internal vote that decides the final two or three candidates the public can choose from.

 

While the proposals are still being reviewed, Mr Yuen stated that the goal is clear: to try to allow more potential candidates entry into the nomination process.

 

He also hopes to be able to set up procedures to allow the hopefuls to explain their political ideas to the public outside the nominating committee through different media platforms during the nominating stage.

 

He understands many people are still concerned that the implementation of universal suffrage for the Chief Executive election in 2017 will be the end game, and is considering ways to strengthen public confidence and ensure people there can be changes in the process after 2017.

 

The report on constitutional reform and the proposal that flows from it are expected to be submitted to the Legislative Council in April, he added.

The median lifespan of global private equity funds across all sectors and geographies has reached an unprecedented 13.2 years, up from 11.5 years in 2008, according to an analysis conducted by online private equity market place, Palico. Only some 12% of funds liquidated in 2014 were wound up by their tenth year, which is the […]

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Beijing-based online education platform Juesheng has completed an undisclosed series B financing round led by ChinaEquity Group, according to an internal email sent by the company's CEO. New Oriental Education & Technology Group Inc. and Linear Venture also participated in the round. Founded in 2011, Juesheng raised an undisclosed angel round from Ameba Capital in […]

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Chinese online sex toy retailer and producer Chunshuitang has raised RMB80 million (US$13 million) series B financing led by New Margin Ventures and Shenzhen Cowin Capital, according to Chinese media reports. Empower Investment also participated in the round. Chunshuitang, which sells sex toys online and also produces its own branded products, says it will use […]

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Beijing-based Chinese short-term vacation home rental platform Tujia.com is in the process to raise over US$200 million in its latest funding round, according to media reports. No other details of the investment are available. The new funding round comes after Tujia.com's series C round in June 2014, when it raised US$100 million participated by GGV […]

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Around 6.45 million passengers will pass through Hong Kong's control points during the Easter and Ching Ming festive period from April 2 to 7, up 14% on last year, the Immigration Department estimates.

 

About 75%, or 4.83 million passengers, are expected to pass through land boundary control points.

 

The number of outbound passengers using land boundary control points is forecast to peak on April 3, with around 507,000 passengers leaving Hong Kong, while the number of inbound travellers will reach its highest on April 5, with an expected 470,000 people arriving in the city.

 

Lo Wu is forecast to be the busiest control point, with an estimated 1.91 million passengers passing through.

 

The department has re-deployed additional staff to reinforce control points to cope with the anticipated heavy passenger traffic.

Beijing-based online travel information and service platform Mafengwo has completed an undisclosed series C financing from Hillhouse Capital Management, Coatue Management, Cobuilder, and Qiming Venture Partners, according to a company announcement. Richard Barton, founder of U.S. travel services firm Expedia, also participated in the round. Mafengwo says after this round of financing, the company has […]

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Beijing-based bicycle portal 700Bike has completed US$15 million series A financing from Banyan Capital, China Growth Capital and IDG Capital Partners, according to an announcement posted on the company's Weibo account. The company says it also secured RMB300 million ($48 million) in loans commitments to use for its supply chain expenses. 700Bike was founded in […]

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Citi has appointed Catherine Cai as managing director, chairman and head of China investment banking, reporting to Mark Slaughter, head of corporate and investment banking for Citi in Asia Pacific, according to a company announcement. Catherine will oversee Citi’s China investment banking team, and continue the strong partnership between China investment banking and industry coverage, […]

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China's currency is likely to enter into the IMF's Special Drawing Right (SDR) scheme this year, and could have the potential weighting of approximately 13%, above the British pound and Japanese Yen, which could make the RMB the seventh largest reserve currency in the world, says a research report by BofA Merrill Lynch Global Research. […]

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