Beijing-based cloud solutions and services provider EasyStack Inc. has closed US$16 million series B funding led by RuShan Capita, with participation from existing investors YingDong Investment and BlueRun Ventures, according to a company announcement. The company will use the latest proceeds to accelerate product development, hire talents, increase marking and sales, as well as expand […]

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Suzhou, Jiangsu province-based fresh produce O2O (online-to-offline) platform FreshMarket has completed RMB180 million (US$29 million) series B round of financing led by Tiantu Capital, according to a company announcement. Founded in 2012, FreshMarket has raised a total of RMB225 million (US$36 million) in two rounds of funding. The company fulfills consumer demand for fresh produce […]

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GGV Capital, a venture capital firm focused on investing in technology and consumer companies in the U.S. and China, has launched a follow-on investment vehicle with a fundraising target of US$450 million, according to a securities filing. The fund, which was named GGV Capital Select LLC and first disclosed in a February filing, will make […]

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China-focused private equity firm Hillhouse Capital and U.S. hedge fund Och-Ziff Capital Management are among thirteen cornerstone investors in Chinese brokerage firm Huatai Securities' HK$34.7 billion (US$4.48 billion) initial public offering, according to a securities filing. Other cornerstone investors include Taiwan's Fubon Life Insurance, ICBC (Asia) Investment Management, New China Life, Sequoia Gopher, Tencent Holdings […]

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Hong Kong-listed China Mobile Limited and China's state-owned investment holding company, State Development & Investment Corporation (SDIC), are placing big bets on the red-hot mobile Internet sector in China with the launch of a joint venture investment fund, according to a securities filing. The two parties plan to jointly establish an investment fund to invest […]

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Shenzhen-based e-commerce platform Xiu.com has completed US$30 million series C round of financing led by Pacific Venture Partners, according to an announcement posted on the company's official Weibo account. Existing investor KPCB and the company's founding team also participated in the round. Xiu.com, which focuses on selling fashionable products to China's middle-class consumers, plans to […]

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Chinese Internet search engine Baidu Inc. has made a multi-million U.S. dollar strategic investment in Taboola, an online content discovery platform, according to a company announcement. NASDAQ-listed Baidu plans to bring Taboola's "You May Also Like" discovery services to the Chinese market, where mobile is the number one way people go online. Baidu's investment follows […]

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Customs officers have arrested two men and seized 16.9kg of cocaine worth $18 million.

Officers stopped a man in Wan Chai yesterday and found 5.9kg cocaine on him and in his residence.

Officers later arrested another man in Tsim Sha Tsui and seized 11kg of cocaine from a storage unit in Mong Kok and a hotel in Tin Shui Wai.

Customs officers have arrested two men and seized 16.9kg of cocaine worth $18 million.

Officers stopped a man in Wan Chai yesterday and found 5.9kg cocaine on him and in his residence.

Officers later arrested another man in Tsim Sha Tsui and seized 11kg of cocaine from a storage unit in Mong Kok and a hotel in Tin Shui Wai.