China Legal Blog
Aggregated China Law Information

Chinese smartphone maker Xiaomi Inc.'s venture capital arm has agreed to invest US$25 million in Chinese health products maker Andon Health Company Limited, according to a regulatory filing. Tianjin-based Andon Health will establish a new entity called iHealth Inc. in Cayman Island, and inject its related global businesses in electronic and smart health device division […]

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China-focused private equity firm SAIF Partners has teamed up with Chinese consumer electronics maker Haier Group to jointly establish a RMB320 million (US$52.1 million) industry fund to invest in smart home products and services in China, according to a securities filing submitted by Haier. Haier Group, its venture capital arm Qingdao Haier Venture Capital Company […]

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The Shanghai Gold Exchange, the biggest physical bullion bourse in the world, announced that an international gold trading board is officially launched in Shanghai Free Trade Zone (FTZ) yesterday. The bourse launches three RMB-denominated physical bullion spot contracts of 100 grams, 1 kilogram (kg) and the bigger London gold delivery bar weighing 12.5 kg to […]

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China-focused distressed debt and special situations firm Shoreline Capital Management (click here to listen to Shoreline's co-founder Benjamin Fanger on China Money Podcast) has held a second closing of US$285 million for its third fund, which is more than half of its total fundraising target, according to media reports. Shoreline China Value III L.P. is […]

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China's e-commerce giant Alibaba Group has priced its U.S. IPO at US$68 per share, much higher than its initial price range of US$60 to US$66 apiece, raising a total of US$21.8 billion in a New York Stock Exchange debut, if not counting proceeds from over-allotment options. This will make the float the third largest IPO […]

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Secretary for Justice Rimsky Yuen met the families of the Lamma ferry tragedy victims today.

 

He said Police have completed the criminal investigation into the Marine Department, and the Director of Public Prosecutions will study the evidence and decide whether to press charges within three months.

 

He told the media after the meeting that if the need for further evidence does not arise, the department will make a decision regarding prosecution within three months.

 

The meeting also saw discussion on the requests for disclosure of the internal investigation report on the tragedy conducted by the Transport & Housing Bureau.

 

Mr Yuen said the families have agreed that such requests can be handled individually without the need for a majority consensus.

Customs and Police officers have arrested two men, aged 33 and 39, for selling counterfeit goods.

 

They raided two storehouses in Mong Kok holding counterfeit goods, from September 15 to 18.

 

A total of 2,360 counterfeit goods, including leather goods, watches and pens valued at more than $1 million were seized.

 

It is believed the operators sold the goods mainly to tourists.

 

Call 2545 6182 to report counterfeiting activities.

The District Court today jailed a 43-year-old woman for three years for possession and attempted use of a false instrument.

 

In August last year she attempted to use a forged bank statement to certify she had US$51.8 billion, to induce a financial agent to engage an in investment project.

 

The Police launched an investigation, seized forged bank statements and arrested the woman.

Beijing-based Chinese film production firm Huayi Brothers Media Corp. has agreed to increase its shareholdings in digital cinema solution provider GDC Technology Limited to 29% from the current 12%, for a total price of as much as US$84.4 million, according to a regulatory filing. The investment will enable GDC Technology's financial backers, The Carlyle Group […]

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Beijing-based online food ordering and delivering service provider Etaoshi has received US$20 million series B financing from Beijing New Hope Industry Investment Center L.P., according to Chinese media reports. Beijing New Hope Industry Investment Center is managed by Hosen Capital, which is the investment arm of Chinese agribusiness conglomerate New Hope Group. Launched in February […]

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Beijing-based online food ordering and delivering service provider Etaoshi has received US$20 million series B financing from Beijing New Hope Industry Investment Center L.P., according to Chinese media reports. Beijing New Hope Industry Investment Center is managed by Hosen Capital, which is the investment arm of Chinese agribusiness conglomerate New Hope Group. Launched in February […]

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Prices of China's new commodity residential properties for 70 medium to large sized cities surveyed by the National Bureau of Statistics (NBS) declined by 1.15% month-on-month in August, down from a decline of 0.93% in July. At the same time, Soufun's 100 city average new home price index edged up to -0.59% month-on-month in August […]

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China's largest commercial property developer Dalian Wanda Group has acquired a piece of Beverly Hills real estate from Hong Kong-based private equity real estate firm Joint Treasure International, according to a company announcement. Terms of the deal were not disclosed. Wanda plans to develop the eight-acre site located at 9900 Wilshire Boulevard into a luxury […]

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Beijing-based car rental service provider Yongche has established a strategic partnership with Haier Financial Services China Co., Ltd. to provide financial leasing services to Chinese small and medium sized car rental firms, according to Chinese media reports. Haier Financial Services China, a financial leasing arm established by Chinese consumer electronics maker Haier Group in Shanghai's […]

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Customs officers arrested a 22-year-old man after finding 1.8kg of heroin in his luggage at the airport yesterday. 

 

He had flown in from Kuala Lumpur.

 

Around $1.41 million-worth of drugs were found inside the hardback covers of three children's books, which aroused suspicion because they were abnormally heavy.

 

The man will appear at Tsuen Wan Magistracy today to face drug trafficking charges. 

 

Drug trafficking is a serious offence that carries a maximum penalty of life imprisonment and a $5 million fine.

Police have arrested a van driver over a Kwun Tong traffic accident in which an 81-year-old woman died.

 

His van reportedly knocked down the woman who was crossing Kai Tin Road near Hong Tin Court just before midday.

 

She was sent to Queen Elizabeth Hospital with serious head injuries and later died.

 

The 31-year-old man was arrested for dangerous driving causing death and has been detained for questioning.

 

Witnesses should call 2305 7500 or 2305 7570.

Twenty-four domestic and international investors and institutions plan to sign an agreement next Monday with the government of Shenzhen, to invest a total of RMB8 billion (US$1.3B) to build private and public hospitals in the city, according to Chinese media reports. The planned investment is part of the drive initiated by the Chinese government since […]

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Microsoft has established a new wholly-owned subsidiary in Shanghai named Microsoft Asia-Pacific Technology Limited, which will focus on the global research and development of the Microsoft cloud operating system. The wholly-owned subsidiary is based around the Chinese teams of Microsoft cloud computing and corporate departments. It will mainly focus on the global development of Microsoft's […]

It’s of crucial importance for senior management of Chinese companies operating in the United States to adjust their mindsets, remain open-minded to differences and get ready to work closely with local professionals in order to grow their American business. Otherwise, they will either go astray or perish. via When in the US, do as the […]

China's central bank has provided RMB500 billion of liquidity to the nation's biggest five banks for RMB100 billion each, via its 3-month Standing Lending Facility (SLF). The amount is roughly equivalent to one 50 basis point rate cut in the commercial banks' required reserve ratio (RRR). Has the People's Bank of China finally blinked in […]

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Beijing-based online food ordering and delivery platform Daojia says it has completed series D round of financing, raising US$50 million led by Chinese e-commerce firm JD.com and Macquarie Capital, according to a company announcement. Founded in April 2010, Daojia received an undisclosed series A round of financing led by Morningside Ventures in July that year. […]

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