Chinese conglomerate Dalian Wanda Group has launched a commercial property crowdfunding platform to finance the construction of its shopping malls with online payment platform 99 Bill, according to a company announcement. The crowdfunding platform, named Stable Earner No.1, on June 8, will be distributed via 99 Bill's web platform, as well as its mobile app […]

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Shanghai-based anti-bacterial company Phagelux, Inc., has raised US$10 million financing with undisclosed investors, according to a company announcement. "This round of financing will be instrumental in moving our development programs forward, acquiring some additional assets, and even starting to commercialize our first programs," says Mark Engel, chairman of Phagelux. Phagelux develops anti-bacterial solutions for crop […]

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An investor consortium led by Hong Kong-based real estate private equity firm Gaw Capital Partners has agreed to acquire the tallest skyscraper in downtown Seattle for over US$700 million, according to someone with close information of the deal. The identities of the consortium's other participating investors are not known. The group is buying the 76-story […]

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Police have reclassified the case of a woman found dead in a Mong Kok street yesterday as murder.

At about 10.45am yesterday, Police received a report that a woman was found unconscious and wrapped in a mattress on Changsha Street near Shanghai Street. She was certified dead at the scene.

A post-mortem examination found injuries to the victim’s head which were probably caused by hard objects, along with multiple rib fractures.

A 30-year-old man is wanted in connection with the case. 

Anyone who knew the woman or has any information should call the Police at 9108 6195.

Police have arrested a driver after his car reportedly struck and killed a 53-year-old man in Yau Ma Tei this morning.

At about 7.52am, the man was driving along Nga Cheung Road towards a car park on Austin Road West when he reportedly  lost control near the car park entrance, hitting another car and the man.

The victim was sent to Queen Elizabeth Hospital, where he later died.

The 48-year-old driver was arrested for dangerous driving causing death.

Witnesses should call 2773 5200 or 2773 5258.

The Immigration Department today arranged for two of the people injured in Sunday's fatal traffic accident in Thailand to return to Hong Kong.

The woman and her son sustained minor injuries in the accident and chose to return to Hong Kong with the department’s assistance.

Immigration officers visited other injured in hospital this morning and learned that one must stay for observation and treatment.

The officers will help the family of the deceased to claim the bodies and handle legal formalities.

Immigration officers and Police arrested 11 illegal workers and four employers in a crackdown on illegal employment yesterday.

Two men and four women, aged 28 to 49 were arrested at four target locations including restaurants and a garage. Two of them are recognisance form-holders which prohibits them from taking up work.

One woman was suspected of using and being in possession of a forged Hong Kong identity card.

Four men aged 35 to 60 were suspected of employing the illegal workers.

Two men and three women, aged 30 to 59 were arrested for breaching their conditions of stay by being involved in parallel goods trading at San Wan Road and Po Shek Wu Road in Sheung Shui.

Officers seized milk powder, food, mobile phones and electronic products.

A total of 2,331 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.

Customs officers arrested a truck driver at Lok Ma Chau control point today after finding suspected illicit cigarettes worth $6.8 million hidden in his vehicle.

The incoming container truck was declared to be carrying 192 boxes of plastic parts and appliances, but an X-ray examination and inspection revealed 194 boxes containing 2.5 million cigarettes with a duty potential of $4.8 million.

The cigarettes were mix-loaded with other goods and concealed in the rear part of the container compartment.

Officers have impounded the truck.

The maximum penalty for smuggling is a $2 million fine and seven years in prison.

China's consumer price index (CPI) eased to 1.2% year-on-year in May, compared with 1.5% in the prior month, as food prices declined in the month, according to data released by China's National Bureau of Statistics. On a monthly basis, the CPI dropped by 0.2%, indicating that domestic demand remains lukewarm. Producer price index (PPI) inflation […]

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China's consumer price index (CPI) eased to 1.2% year-on-year in May, compared with 1.5% in the prior month, as food prices declined in the month, according to data released by China's National Bureau of Statistics. On a monthly basis, the CPI dropped by 0.2%, indicating that domestic demand remains lukewarm. Producer price index (PPI) inflation […]

Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in China. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.