Beijing-based mobile app maker Kaizhuo has raised RMB200 million (US$32 million) series A financing from Tiantu Capital, according to the company's Weibo account. The proceeds will be used to further expand the company's existing businesses, as well as developing mobile payment technologies. Launched in June 2014, Kaizhou's mobile apps provides information and discounts on restaurants, […]

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Mobile technologies account for 3.7% of China’s GDP, or US$365 billion. China’s mobile GDP, now the second largest in the world, is poised to grow to 4.8% of GDP by 2020 due to the global expansion of China’s manufacturers and its strong patent position in mobile technologies, according to a new report by the Boston […]

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U.S. private equity firm TPG Capital has appointed Zubin Irani to a senior leadership position in its operations group in Asia-Pacific. As a managing director at TPG, Zubin will focus on further building out the firm’s operations capability, and help implement performance improvement and talent management across TPG’s portfolios in the region, according to a […]

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London-based private equity firm CVC Capital Partners has secured a court order to freeze the assets of Chinese restaurant chain South Beauty, in which the private equity firm has taken a majority stake last year, according to media reports. In April 2014, CVC said it had acquired a 82.7% stake in South Beauty Investment Company […]

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The Police traffic branch will fully implement the automatic number plate recognition system on Monday, to enhance frontline officers’ law enforcement efficiency.

The system comprises a camera and a computer loaded with data from the Transport Department. It will automatically scan vehicles’ plate numbers and compare them with the database. If a vehicle is found to have been connected with a serious traffic contravention, it will be stopped for further enquiry.

Initially, Police will focus on taking enforcement action against disqualified or wanted drivers, and vehicles without a licence.

The data collected will be automatically deleted after each operation. The Department of Justice has confirmed that the system complies with the Personal Data (Privacy) Ordinance and Data Protection Principles.

The system will assist frontline officers in identifying vehicles and drivers in contravention of traffic regulations and combating traffic offences effectively.

The Customs & Excise Department has seized 2,000kg of pangolin scales worth $10 million in Kwai Chung.

Customs officers found the pangolin scales in a shipment arriving from Nigeria on March 17 at the Kwai Chung Customhouse Cargo Examination Compound.

The pangolin scales come from an endangered species and were not declared on the manifest.

Importing unmanifested cargo is liable to a maximum fine of $2 million and a seven-year jail term. 

Illegally importing an endangered species without a licence is liable to a maximum fine of $50,000 and six months' imprisonment.