Shanghai-based eye glasses e-commerce platform Wangcl.com has completed an undisclosed series A financing led by venture firm QF Capital. The round values the company at RMB200 million (US$32 million), according to an announcement on its official Weibo account. Founded in late 2013, Wangcl.com operates a vertical O2O (online-to-offline) platform specialized in selling eye glasses. Shenzhen-based […]

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Guangzhou-based Chinese medical devices manufacturing firm Well Lead Medical Co., Limited, backed by private equity firm JD Capital, has completed an IPO on the Shanghai Stock Exchange, raising approximately RMB385 million (US$61.4 million) by issuing 25 million shares. In 2011, JD Capital invested in the company for an undisclosed amount, and kept an 8% stake. […]

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Global investors see increasing opportunity in Asian hedge funds, with around 30% of respondents planning to increase investment in Asian managers over the next 12 months, up from 19% last year, according to Deutsche Bank's annual Alternative Investment Survey that gathered insights from 435 hedge fund investors with over US$1.8 trillion in assets under management. […]

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The Third Session of the 12th National People's Congress (NPC), China's top legislature, will open on March 5th. During the meeting, Beijing could lower the GDP growth target for 2015 to around 7.0% from around 7.5% in 2014, says a report by BofA Merrill Lynch Global Research. The major reason is China's declining potential growth, […]

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Hsinchu, Taiwan-based fabless chipmaker MediaTek has launched a US$300 million venture capital fund, MediaTek Ventures, to invest in global start-ups, according to a company announcement. MediaTek Ventures will target the semiconductor system and devices, Internet infrastructure, and Internet-of-things sectors, in order to create a collaborative ecosystem around MediaTek's main businesses. The fund will back start-ups […]

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Chinese e-commerce giant Alibaba Group Holdings plans to set up a NT$10 billion (US$316 million) not-for-profit fund to boost entrepreneurship among young people in Taiwan, according to a company announcement. The move follows last month’s establishment of the Alibaba Hong Kong Young Entrepreneurs Foundation that aims to raise HK$1 billion (US$129 million) to boost entrepreneurship […]

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Chief Executive CY Leung said in Beijing today that he will take the opportunity to discuss the issue of Mainland tourists coming to Hong Kong with the relevant authorities during his visit. 

Mr Leung told reporters that there has been on-going discussion on the matter, which the Government of the Hong Kong Special Administrative Region attaches great importance to.

He noted that reducing the number of Mainland visitors to Hong Kong would involve tightening the existing policy and that any changes need Mainland authorities' approval. 

On the issue of parallel trading, Mr Leung stressed that the SAR Government has been taking the necessary steps to curb such activities, including law enforcement action targeting illegal retail outlets in industrial buildings.