China Legal Blog
Aggregated China Law Information

China has revised up its 2013 GDP to an estimated RMB58.8 trillion, or US$9.5 trillion, after the completion of a third nationwide economic census, according to an announcement by the National Bureau of Statistics. The revised number is up 3.4% from an estimated RMB56.88 trillion previously. The National Bureau of Statistics says the revision will […]

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New York-based hedge fund Tiger Global Management LLC has sold its equity holdings of New York Stock Exchange-listed Chinese security software firm Qihoo 360 Technology Co. Ltd., cutting losses on a stock that has seen its prices drop significantly during the past four months, according to the firm's disclosure documents. On August 15, Tiger Global […]

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Asia Pacific (ex-Japan) saw equity market investment banking revenue surge 63% year-to-date in 2014 compared to the same period last year, reaching a total revenue of US$4.5 billion, the highest year-to-date level since the US$6.0 billion recorded in 2010, according to data tracker Dealogic. Goldman Sachs ranks as the number one in the region for […]

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Beijing-based voice recognition and language processing start-up Unisound has completed US$50 million series B financing, according to the company's official Weibo account. Participating investors are not disclosed. Founded in 2012, Unisound previously received around RMB10 million (US$1.6 million) angel investment and RMB100 million (US$16 million) series A financing from undisclosed investors. Unisound says it will […]

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Chinese search engine Baidu Inc. and San Francisco-headquartered ride-share and taxi service firm Uber jointly announced a strategic investment and cooperation agreement, confirming widespread media reports last week, according to a statement posted on Uber's website. Uber CEO Travis Kalanick and Baidu chairman and CEO Robin Li announced the agreement at a signing ceremony at […]

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CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Limited, says that it has agreed to sell all of its stakes of Japanese tableware maker Narumi Corporation to Japanese glass ware and ceramic products manufacturer Ishizuka Glass Co., Ltd., according to a company announcement. Deal terms were not disclosed. The sale, which is […]

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Chinese mobile app maker Nice has completed US$36 million series C financing led by New York-based hedge fund Tiger Global Management and Vy Capital, an investment firm exclusively focused on Internet and software sectors, according to Chinese media reports. Launched a year ago, Nice received US$8 million series A financing from Matrix Partners and Morningside […]

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Shanghai-based young professional apartment rental O2O (online-to-offline) platform Mogoroom has completed US$25 million series B financing led by Haitong Kaiyuan Investment Co., Ltd., according to the company's official Weibo account. IDG Capital and Ping An Ventures also participated. The company says it will use the proceeds to expand its rental network, improve its services and […]

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Shenzhen-listed Hunan TV & Broadcast Intermediary Co., Ltd. says its subsidiary, Shenzhen Fortune Venture Capital Co., Ltd., has launched a RMB5 billion (US$805 million) industry fund to invest in the Internet and new media sectors in China, according to a regulatory filing. Shenzhen Fortune Venture Capital has committed RMB898.2 million (US$145 million), or 17.96% of […]

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Beijing-based Chinese sporting goods firm Li Ning Co. Ltd., backed by U.S. private equity firm TPG Capital and Singapore's sovereign fund GIC, says it plans to raise between HK$1.5 billion (US$193 million) to HK$1.69 billion (US$218 million) by issuing ordinary shares and convertible securities to the public to support the company's future growth, according to […]

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Durham, North Carolina-based solid state cooling and heating products maker Phononic says that it has completed US$44.5 million series D funding led by Eastwood Capital Corp and the Wellcome Trust, with participation of two Chinese venture firms, according to a company announcement. The WLR China Energy Infrastructure Fund, Beijing-based venture firm Tsing Capital, Venrock, Oak […]

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The Fire Services Department held an official funeral service with full honours for late Principal Fireman Leung Kwok-kei at Hung Hom Universal Funeral Parlour today.

 

He died after suffering serious head injuries in a gas explosion at Shek Kip Mei Estate last month.

 

Chief Secretary Carrie Lam, Secretary for Justice Rimsky Yuen, Secretary for Security TK Lai, and Director of Fire Services Lai Man-hin laid wreaths at the funeral.

 

The Service Contingent paraded outside the funeral parlour for people to pay their respects. The hearse then arrived at Shek Kip Mei Estate where local dignitaries and residents laid wreaths.

 

It then proceeded to Mong Kok Fire Station where officer Leung was stationed, and the Service Contingent paraded in the forecourt as a final tribute.

 

The cortege then left for Gallant Garden at Wo Hop Shek Cemetery for the burial service.

The Department of Justice today announced that it had set up an advisory committee to promote Hong Kong as a leading centre for international arbitration services in the Asia-Pacific region.  

 

Chaired by the Secretary for Justice, the committee includes representatives from the department, and local legal and arbitration sectors.

 

Overseas arbitration experts may also be appointed to assist the committee either generally or on specific issues.

 

The body will consider, advise on and co-ordinate initiatives and overall strategies for the promotion of the city's arbitration services locally and outside of Hong Kong.

 

It will also serve as a forum for discussing issues raised by the legal and dispute-resolution sectors concerning the promotion of Hong Kong as a leading centre for arbitration services in the Asia-Pacific region.

Challenges faced by the Chinese financial system will continue to build in 2015 as the government works to re-balance economic growth away from investment and towards private consumption. The pressure on Chinese banks' asset quality will also worsen, says a Fitch Rating research report. China's GDP growth is currently projected to slow to 6.8% in […]

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China was brutal to US tech firms in 2014 – PCWorld bit.ly/1uSNGh7 © @chinahearsay for China Hearsay, 2014. | Permalink | No comment | Add to del.icio.us Post tags:

China’s Corruption Fight Inseparable from Economic Reform | Wall Street Journal on.wsj.com/1wYZntW – – no value in anti-corruption for … © @chinahearsay for China Hearsay, 2014. | Permalink | No comment | Add to del.icio.us Post tags:

Q. and A.: John Osburg on the Angst Found Among China’s Newly Rich | New York Times nyti.ms/1AoxYyT – – definitely not an enviable l… © @chinahearsay for China Hearsay, 2014. | Permalink | No comment | Add to del.icio.us Post tags:

Chinese Court Orders Compensation for Doctor Threatened with Violence | The Nanfang bit.ly/1AovMY6 – – about time © @chinahearsay for China Hearsay, 2014. | Permalink | No comment | Add to del.icio.us Post tags:

China’s Currency Catch-22: The Dollar Isn’t All That Matters | Wall Street Journal on.wsj.com/1qZHh8m © @chinahearsay for China Hearsay, 2014. | Permalink | No comment | Add to del.icio.us Post tags:

Dutch insurer Delta Lloyd NV says that it has reached an agreement to sell its banking unit Delta Lloyd Bank Belgium to China's Anbang Insurance Group Co. Ltd. for €219 million (US$273 million), according to a company announcement. The deal is the third major overseas acquisitions revealed by Anbang in a short three-month period. In […]

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Beijing-based advertising and marketing firm Bluefocus Communication Group Co., Ltd. is planning to acquire 85% of Canadian advertising and public relations firm Vision7 International Ulc for RMB1.12 billion (US$180 million), according to a regulatory filing. The remaining 15% stake will be held by the management team of Vision7 Intentional. The deal has won the approval […]

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