Shanghai-based Internet insurance company Zhong An Insurance, co-founded by three Chinese online entrepreneurs, is in the process of raising approximately RMB9 billion (US$1.45 billion) in its first round of financing, according to Chinese media reports. China International Capital Corporation Limited (CICC) and Morgan Stanley are participating in the financing round, which is expected to close […]

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Beijing-based personal transportation robot maker Ninebot Inc. has received US$80 million investment from Chinese smartphone maker Xiaomi Inc., Shunwei Capital, Sequoia Capital and WestSummit Capital, according to an announcement. At the same time, Ninebot has also acquired rival Segway PT. Deal terms were not disclosed. Shunwei Capital is co-founded by Lei Jun, founder of Xiaomi, […]

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Intel Capital, Intel’s global investment and M&A arm, has launched a RMB80 million (US$13 million) China angel fund designed to provide capital support to the country’s innovative makers, and focus on enabling smart device maker ecosystem development in China, according to a company announcement. This is the first angel fund and the fourth investment fund […]

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Shenzhen-based Chinese consumer drone maker SZ DJI Technology Co. is in the process to raise hundreds of millions U.S. dollars in new funding at a valuation of U$10 billion, making it the most valuable consumer drone manufacturer in the world, according to media reports. Investors in the round may include Accel Partners and Kleiner Perkins […]

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Asia-focused private equity fund-of-funds (FoF) manager Asia Alternatives Management LLC has reached final closing of over US$1.8 billion for its fourth fund, Asia Alternatives Capital Partners IV, L.P., as well as its related fund vehicles, according to a company announcement. The firm's fourth fund, along with its sleeve fund focused on investments outside Japan, closed […]

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Senior Immigration Assistant Choi Fung-hau has been elected Hong Kong's most courteous immigration control officer.

Director of Immigration Chan Kwok-ki and Tourism Board Deputy Executive Director Becky Ip today presented awards and souvenirs to officer Choi.

The Most Courteous Immigration Control Officers Election has been held annually since 1996 to promote frontline officers' sincerity and courtesy while exercising effective immigration control, Mr Chan said.

He encouraged frontline officers to continue to provide efficient and courteous services to travellers and leave visitors with a good impression of Hong Kong. He also thanked the officers for their devotion in offering efficient and courteous services to travellers.

The Immigration Department and Police have arrested 33 Mainland visitors, aged 31 to 60, in an anti-illegal employment crackdown in North District in the past two days.

Twelve men and 21 women were arrested for breaching their conditions of stay by being involved in suspected parallel goods trading on Castle Peak Road – San Tin in Lok Ma Chau, and on Po Wan Road, San Wan Road, Choi Fai Street and the Advanced Technology Centre in Sheung Shui.

Officers seized milk powder, red wine, skin-care products, daily necessities, food and electronic components.

A total of 2,103 Mainland visitors and 14 Hong Kong residents have been arrested for parallel goods trading since 2012. Of these, 215 Mainlanders have been prosecuted and 205 have been jailed.