China's decision to launch local government debt swap is the right step in restructuring its massive local debt problem, and should be done on a much larger scale to help manage the country's rising debt pile, says a research report by UBS AG. China's Ministry of Finance (MoF) has given local governments permission to issue […]

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Chinese online food ordering platform Meican has completed RMB140 million (US$23 million) series C financing led by Shanghai-based Yelp-like review website Dianping.com, according to Chinese media reports. Existing investors KPCB China, Nokia Growth Partners, and Trustbridge Partners also participated. Meican's management team remains to be the largest shareholder of the business, and continue to own […]

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Chinese marketing firm Guangdong Advertising Co., Ltd. plans to acquire 15% of Lomark, a venture-backed mobile advertising firm based in Shenzhen, for RMB112.5 million (US$18 million), according to a regulatory filing. The strategic investment in Lomark will expand Guangdong Advertising's mobile advertising offerings, and the two companies will cooperate on improving their existing advertising products. […]

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Chinese Internet giant Tencent Holdings Limited and Taiwanese electronics contract manufacturer Hon Hai Precision Industry Co., Ltd. has committed capital to Playground Global LLC, a technology incubator newly launched by the creator of Android, Andy Rubin, according to media reports. Other investors including Google, Hewlett-Packard, Redpoint Ventures, and Seagate Technology PLC., also backed the new […]

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