Shanghai-based logistics company Orient International Enterprise says it will launch a Renminbi-denominated buyout fund with Haitong Capital, the private equity arm of Chinese financial firm, Haitong Securities. According to a regulatory filing, Orient International Enterprise and Haitong Capital, as well as a number of unnamed shareholders plan to establish a joint venture firm called Haitong […]

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Beijing-based Chinese peer-to-peer financing platform Yooli.com says it has received "tens of million dollars" in series A funding from SoftBank China Venture Capital (SBCVC), according to a company announcement. The specific size of the deal was not disclosed. Launched in February 2013, Yooli has nearly 100,000 registered users and has transacted more than RMB265million ($43 […]

Visit ChinaMoneyNetwork.com for more great China Money Podcast audio and video Internet episodes covering important investment news and financial events in China, as well as daily news updates on important China business news happenings. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.

Shanghai-based Bitcoin exchange platform BTC China says it has received $5 million series A funding from Lightspeed China Partners and Lightspeed Venture Partners. The company says it will use the proceeds on general operations and business expansion. Founded in 2011, BTC China claims to be the biggest Bitcoin exchange in China, with 90,000 Bitcoins in […]

Visit ChinaMoneyNetwork.com for more great China Money Podcast audio and video Internet episodes covering important investment news and financial events in China, as well as daily news updates on important China business news happenings. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.

Police officers issued 560 fixed-penalty tickets and 53 summonses to road users violating traffic regulations during a crackdown on Hong Kong Island.

The 259 officers sent to enforce traffic regulations at traffic black spots issued 406 tickets for illegal parking and 154 for other traffic offences.

Thirty-one pedestrians and 93 drivers were cautioned for committing minor traffic offences.

A total of 2,496 traffic accidents involving casualties occurred on Hong Kong Island from January to October, and pedestrians were injured in 805 cases. Nearly half – 46.7% – of the accidents in which pedestrians were injured were attributed to pedestrian negligence.