China Legal Blog
Aggregated China Law Information

Hong Kong-headquartered solar park developer Sky Solar Holdings, Ltd., backed by IDG-ACCEL China Capital, has filed for an IPO on the NASDAQ to raise as much as US$172.5 million, according to a securities filing. The company is planning to sell 12.5 million American Depository Shares (ADS) at US$10 to US$12 apiece. IDG-ACCEL China Capital, a […]

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Beijing-based housekeeping services app maker Ayibang has received tens of millions U.S. dollar series B financing led by Vertex Venture Holdings Ltd., according to a post published on the company's official Weibo account. Existing investors Shunwei Capital Partners and Ceyuan Ventures also participated. The company says it will use the proceeds to expand its services […]

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Officers from the Fire Services Department, together with the Civil Aid Service, have removed a giant banner which protesters had hung on the Lion Rock yesterday.

 

Deputy Chief Fire Officer Leung Wai-hung told the media today a Government Flying Services helicopter had airlifted the teams to the Lion Rock and they abseiled down the cliff face to remove the banner. The removal took about an hour.

 

Mr Leung said the banner was removed as it was quite large and could have endangered public safety if it had fallen from the mountain.

 

Also addressing the media today, Police Public Relations Branch Chief Superintendent Steve Hui called on people not to go to the Mong Kok protest site, which remains a high-risk area.

 

He said Police will take enforcement action against violent acts and may use a minimum level of force to uphold law and order.

 

He also noted that Police are investigating after they found someone stealing electricity from a lamppost at the Admiralty protest site.

Non-livelihood related waterworks fees are likely to be increased next year.

 

The Government today gazetted the fee adjustment for 25 waterworks services including connecting water mains, providing and installing a meter, testing a meter and water sample tests.

 

The Government adopts the 'user pays' principle. In order to achieve full cost recovery gradually and avoid a steep fee increase, the 25 fees for services that are non-livelihood related will be increased by about 4.6% to 20.8%.

 

The proposed fee hike will be tabled at the Legislative Council on October 29. Subject to approval by negative vetting, the revised fees will come into effect on January 1.

 

Shanghai-based car dealership China Grand Automotive Services Co., Ltd., backed by TPG Capital, has reportedly put on hold a planned Hong Kong IPO to raise around US$800 million, according to media reports. Representatives of TPG did not respond to inquiries to confirm the news. The company may not launch an IPO this year, and it […]

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Now, China's ruling Communist Party (CPC) just completed its four-day 4th Plenum. How is the market going to react? According to a research report by BofA Merrill Lynch Global Research, it should be overall positive, as the CPC emphasizes constitution more than ever, and the messages of the communique released today by the official Xinhua […]

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[Temporarily taken down; will be re-posted around Oct. 31st.]

Hong Kong-based food conglomerate Tsit Wing International Holdings Limited says that Mitsui & Co., Ltd. has acquired less than 20% stake for JPY2.2 billion (US$20.6 million) to become a strategic investor of the company, according to a company announcement. Mitsui & Co., a Japanese general trading companies and part of the Mitsui Group, bought the […]

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Beijing-based online English language education firm 51Talk says it has received US$55 million series C financing led by Sequoia Capital, according to a statement posted on its official Weibo account. Existing investors Shunwei Capital and DCM also participated. Founded in 2011, 51Talk received angel investment from Chinese angel investor Xu Xiaoping that year. A year […]

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Beijing-based mobile e-commerce platform KouDai has received US$350 million series C round of financing led by Chinese Internet giant Tencent Holdings Limited, according to a statement posted on the company's official Weibo account. Tencent invested US$145 million in the round. In return, Tencent reportedly received around 10% of the company, but this information cannot be […]

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Global private equity firm The Blackstone Group has raised over US$4.4 billion for its first Asian real estate fund, according to a securities filing submitted to the U.S. Securities and Exchange Commission on October 21. The fund, named Blackstone Real Estate Partners Asia L.P., was launched in April 2013. It has a hard cap of […]

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China's HSBC flash PMI edged up to 50.4 in October from 50.2 in September, slightly strong than market expectation of 50.2. This signals that growth momentum has only succeeded in stabilizing, but more policy easing is needed to achieve growth target, says a research report issued by Nomura. The index' components are not as encouraging […]

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Global private equity firm Advent International says it has hired Dr. Yu Dahai as an operating partner in the chemicals sectors, according to a company announcement. Dr. Yu will advise and work closely with Advent’s chemicals team to help source new investment opportunities globally, including China. He will also support Advent’s global chemicals assets post-investment. […]

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Salisbury, U.K.-based molecular diagnostic testing firm Enigma Diagnostics Ltd. says that Sailing Capital Management has agreed to invest US$50 million to help support the British company's global expansion, according to a company announcement. Sailing Capital is an investment firm controlled by Shanghai International Group (SIG). Last December, it launched a RMB5 billion buyout fund to […]

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Herzeliya, Israel-based venture capital fund Carmel Ventures says it has reached a US$197 million final closing of its latest fund, Carmel Ventures IV, according to a company announcement. Several Asian strategic investors including Baidu Inc., Ping An Insurance Company of China, Ltd., and Qihoo 360 Technology Co. Ltd. have invested in the fund as limited […]

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China International Capital Corporation (CICC) says that Jin Liqun has resigned from the position of chairman and member of CICC’s board of directors, according to an emailed company statement. Ding Xuedong, chairman and CEO of China Investment Corporation (CIC), has been appointed as CICC’s new chairman and member of the board of directors. The news […]

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Police Public Relations Branch Chief Superintendent Steve Hui has called for calm and restraint, saying the disorderly situation in Mong Kok is escalating.

 

At a press conference today, he said Police had to break up a confrontation between protestors and people helping to remove road blockades to execute a court order.

 

Since noon yesterday, 14 crime reports have been made involving Mong Kok protest areas, including assault, indecent assault, and possession of dangerous weapons, resulting in the arrest of 11 people.

 

The cases also include an arson attempt by a man, and a case of bags containing filthy objects being thrown from a height and hitting several people, including a schoolboy.

 

Mr Hui warned that these are serious crimes that could cause multiple casualties.

 

As radical protestors and troublemakers are mixing with the crowd, large-scale confrontations may be triggered.

 

He urged protestors to obey the court order and stop obstructing roads, adding that ignoring the order undermines the rule of law, which can have far-reaching effects on Hong Kong's future.

 

He also appealed to students to leave the streets in Mong Kong and for people not to bring young children to the area.

A contractor and a worker were fined $96,000 and $20,000 by Kowloon City Magistracy today for violating safety legislation.

 

On December 25 last year a scaffolder fell to his death while erecting a bamboo scaffold on the external wall of a building in Mong Kok.

 

Prosecution action was launched by the Labour Department.

Police have arrested seven men and one woman, aged between 32 and 82 near the Mong Kok protest area since noon yesterday, for their alleged involvement in 13 cases including assault, indecent assault, possession of an offensive weapon, disorderly conduct in a public place and arson.

 

The High Court has granted injunctions requiring protesters to clear illegally occupied roads and forbids them from obstructing the removal of obstacles from the areas.

 

The applicant and bailiffs yesterday tried to carry out the order but were ignored, and there were clashes between those helping to remove the obstacles and the protesters.

 

Police appealed to the protesters to respect the law, obey the court order and stop occupying the roads as soon as possible.

 

Officers also stressed that the occupied streets in Mong Kok remain a high-risk area, and advised people to avoid it.

 

The force added that it would continue to carry out its duties impartially, but would not tolerate violence.

Police have reclassified a North Point wounding case as murder after the death of a 45-year-old man.

 

At about 10.18pm on October 13, Police were called to Tsat Tsz Mui Road where a man had collapsed. He was rushed to Eastern Hospital unconscious and with cuts on his head. He died at 8:10 last night.

 

Police arrested a 33-year-old man for wounding yesterday, he was later charged with murder.

 

A post-mortem will be conducted later to determine the victim's cause of death.

China Everbright Limited (CEL), the Hong Kong-listed financial services arm of China Everbright Group, has agreed to acquire U.S. vehicle testing equipment firm the Burke E. Porter Machinery Company (BEP) for US$90 million, according to a regulatory filing. CEL is buying all outstanding shares of BEP, which will continue to be run by its current […]

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