Chinese e-commerce giant Alibaba Group Holding Ltd. has purchased a RMB2.4 billion (US$383 million) stake in Beijing-based television and film company Enlight Media Group, according to a securities filing. Enlight Media has issued 99 million new shares at RMB24.22 apiece to Hangzhou Ali Venture Capital Co., a financial arm of Alibaba Group, via a private […]

Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in China. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.

China's small to mid-size banks would be at greater risk in the extreme scenario that the Chinese property market crashes, given their geographic concentration and weaker customer credit profiles. Larger banks should prove more resilient, says a Standard & Poor's report. "If property prices drop 20% over the next year, the increase in gross non-performing […]

Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in China. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.

Customs officers have arrested truck driver after finding 800,000 illicit cigarettes worth $2.2 million, and with a duty potential of $1.5 million, in his vehicle.

Officers stopped the incoming lorry, declared to be carrying 148 boxes of assorted cargo, at Man Kam To Control Point on March 3.

They found the cigarettes hidden in 49 fake air compressors and arrested the 39-year-old man.