New York Stock Exchange-listed Chinese Craigslist-like platform 58.com Inc., backed by private equity firms Warburg Pincus and SAIF Partners, has acquired Shanghai-based real estate listing platform Anjuke for approximately US$267 million, according to an official announcement. 58.com has issued about five million new ordinary shares and paid another US$160 million in cash to acquire 100% of […]

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The People's Bank of China's recent (PBoC) move to cut interest rate came as no surprise, following the particularly weak readings of January inflation and another expected soft reading for February. More monetary easing is still needed and could materialize during the second quarter, according to a research report by UBS AG. The PBoC cut […]

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Chinese venture capital firm N5 Capital is targeting to raise US$200 million for its debut U.S. dollar-denominated investment vehicle named N5 Capital Fund I, L.P., according to a regulatory filing. Founded in 2012 by Will Yiwei Jiang, a former vice president of strategy at Chinese mobile Internet services provider NQ Mobile Inc., N5 Capital focuses […]

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China’s official purchasing managers index (PMI), the bellwether of large industrial firms, inched up to 49.9 in February, up by 0.1 percentage points over a month earlier, according to data released by China’s National Bureau of Statistics. The output sub-index fell by 0.3 percentage points to 51.4, affected by the weak activity during the Chinese […]

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Shanghai-based home furnishing e-commerce platform Jia.com has received US$160 million series D financing from undisclosed investors, according to an official announcement on its Weibo account. The proceeds will be used to develop its O2O (online-to-offline) business, as well as hiring new talent, says the announcement. In 2007, Jia.com reportedly received US$2 million series A financing […]

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Secretary for Security TK Lai will lead a delegation tomorrow for a two-day visit to Guangzhou and Shenzhen.

The delegation will include Security Bureau, Police, Immigration Department and Customs & Excise Department officials.

Mr Lai will visit the Guangdong Provincial Public Security Department, the Shenzhen Municipal Government and the Shenzhen Municipal Public Security Bureau.

He will return to Hong Kong on March 4.

On Valentine's Day, two of China's taxi-hailing apps agreed to merge. But is this a good business decision and does it benefit consumers in China? China's two leading taxi-hailing apps Didi Dache and Kuaidi Dache jointly announced on February 14, 2015, that the two companies will realize a strategic integration and they will hold an […]