Beijing-based second-hand automobile trading platform Che101 has completed US$10 million series A funding led by N5 Capital, according to Chinese media reports. Existing investor Lightspeed Venture Partners also participated in the round. Che101 previously received several million U.S. dollar investment from Lightspeed. The company says it plans to expand its used car database to 50 […]

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Hong Kong-based Asian private equity firm General Enterprise Management Services (GEMS) has agreed to invest US$20 million in Primeline Energy Holdings Inc., an independent oil and gas production company focusing exclusively on China, according to a company announcement. Primeline, which is listed on Canada's TSX Venture Exchange, will issue US$20 million worth of convertible bonds […]

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Beijing-based third-party advertising services firm Miaozhen Systems has completed a series D round of financing worth over US$50 million led by Primavera Capital, according to a company announcement. The company says it will use the proceeds on mergers and acquisitions, as well as improving its shareholding structure. Founded in 2005, Miaozhen previously raised a total […]

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Customs officers have arrested two men for using an online discussion forum to distribute pirated TV programmes.

The forum's 25-year-old administrator and a key member, aged 46, were arrested yesterday.

Four sets of computers worth $20,000 were seized.

Officers had received information that pirated TV programmes were available for download through an Internet discussion forum and that members needed to register and collect electronic tokens to download the programmes.

The department believes it has broken up a well-organised syndicate involved in distributing infringing TV programmes.

It is still investigating the group's financial gains.