Hangzhou-based mobile app maker Mishi, which allows users to eat at people's homes, has completed US$15 million series B financing round led by Sequoia Capital, according to Chinese media reports. Existing investor Morningside Ventures also participated. Launched in March 2015, Mishi currently has 15,000 registered chef users in 300 Chinese cities. Its app are similar […]

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Mandarin Capital Partners, a private equity firm focused on China-Europe cross-border deals, has teamed up with Hong Kong-listed Zoomlion Heavy Industry Science and Technology Co., Ltd to acquire 75% of Italian waste treatment firm Ladurner Ambiente S.p.A for €75 million (US$82 million), according to a securities filing. Changsha-based construction machinery and sanitation equipment maker Zoomlion […]

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Xie Zhichun, executive director and president of Central Huijin Investment Limited, has left the firm, according to an announcement. Ding Xuedong, who was appointed as China Investment Corporation (CIC)'s chairman and CEO in July 2013, says the firm appreciates Xie's contributions during his tenure, including pushing forward Central Huijin's reform and enhancing the work of […]

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China’s manufacturing purchasing managers index (PMI), the bellwether of large industrial firms, picked up modestly to 50.2 in May, from 50.1 in the prior month. In the meantime, the HSBC China flash PMI also edged up to 49.1 in May from 48.9 in April. "The improvement of both PMIs is due to the recent pro-growth […]

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As China's stock market continue its seemingly unstoppable rally, investors should become more cautious and watch out for excessive risks in the market, says a research report by BofA Merrill Lynch Global Research. The bank has favored Chinese stocks since August 2014 when investor angst about corporate defaults and the property market was high, while […]

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Hong Kong-based real estate private equity firm Gaw Capital Partners has bought a portfolio of real estate projects in Vietnam from a company named Indochina Land Holdings 2 Limited for US$106 million, according to a company announcement. The portfolio is comprised of Indochina Plaza in Hanoi, Hyatt Regency Danang, and two additional land development projects […]

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Immigration and Police officers arrested seven Mainland visitors, aged 32 to 67, in an illegal employment crackdown in North District on June 1.

Six men and one woman were arrested for breaching their conditions of stay by being involved in suspected parallel goods trading on Castle Peak Road, San Tin.

Officers seized goods including milk powder, food, wine, skincare products, daily necessities and electronic products.

A total of 2,310 Mainlanders and 14 Hong Kong residents have been arrested for parallel goods trading since September 2012. Of these, 216 Mainlanders have been prosecuted and 206 have been jailed.

Police have arrested a truck driver after he reportedly lost control of his vehicle in Pok Fu Lam, causing a collision in which a woman died and four people were injured.

The mishap occurred at about 5pm yesterday, as the 39-year-old truck driver was travelling downhill along an unnamed road towards Pok Fu Lam Road. He lost control and rammed into a private car, which then collided with a van in front and another private car in the opposite lane.

The 52-year-old driver of the first car and her passenger, a 55-year-old woman, were sent to Queen Mary Hospital where the driver died.

The drivers of the van and other car, aged 39 and 37, were also injured and sent to the same hospital, along with the truck driver. He was admitted with neck and head injuries, and arrested for dangerous driving causing death.

Witnesses should call Police on 3106 8815.

Tianjin Changda Advertising Co., Ltd., an advertising agency with exclusive rights to sell ads on China's high-speed rail system, has received RMB100 million (US$16 million) series A+ round of financing from Shenzhen Huijinquan Capital, according to an announcement posted on its Weibo account. The investment follows an undisclosed amount of series A round led by […]

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Chinese P2P (peer to peer) lending platform Touna has completed RMB150 million (US$24 million) series B round of financing from Liaoning Dajin Steel Structure Engineering (Group) Co., Ltd., according to a company announcement. In June 2014, Touna completed series A round of financing worth up to RMB100 million from the direct investment arm of GF […]

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