Haikou, Hainan province-based Chinese conglomerate HNA Group Co., Ltd. has agreed to acquire air cargo services firm Swissport International Ltd. from European private equity firm PAI Partners for approximately US$2.8 billion, according to a company announcement. HNA Group, the parent of China's Hainan Airlines, is buying 100% of Swissport. The deal will compliment the group's […]

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Shanghai-based digital media and display advertising firm Focus Media Holdings Limited is seeking other ways to re-list in China, as the shell company in its previously planned back door listing deal becomes entangled in a potentially lengthy investigation. The company may consider a listing on the strategic emerging board, which the Shanghai Stock Exchange Plans […]

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Hong Kong-listed ramen restaurant chain operator Ajisen (China) Holdings Limited has led a US$70 million investment in Baidu Waimai, the food delivery O2O (online-to-offline) platform launched by Chinese search engine Baidu Inc., according to a regulatory filing. A subsidiary of Ajisen, named Ajisen Investments, together with Chinese private equity investment firm, the Hina Group Holdings, […]

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In an astounding cock-up of monumental proportions (because it could so easily have been avoided by spending a few minutes searching around the web), the UK government has accused Ai Weiwei of lying on his application for a UK visa….

Sino-French private equity firm Cathay Capital Private Equity has led an undisclosed investment in French web localization and marketing firm Datawords, according to a company announcement. Keensight Capital, Cathay Capital's key backer, French investment firm Bpifrance, as well as existing investor French investment firm Capzanine, also participated in the round. Datawords generated over €30 million […]

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Alibaba Group Holding Limited is investing US$1 billion to accelerate the global roll out of its cloud-computing business, according to its corporate news website Alizila. The investment underscores the importance Alibaba gives to cloud computing as a future revenue driver. "Big Data and cloud computing are at the heart of Alibaba Group’s strategy for the […]

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Tempe, Arizona-based automotive material maker SDC Materials, Inc. has completed an undisclosed round of new financing led by SAIC Capital, the venture capital investment arm of Chinese car maker SAIC Motor Corporation, according to a company announcement. Existing investors, including General Motors Ventures, BASF Venture Capital, Volvo Group Venture Capital, Invus Financial Advisors and Emerald […]

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Shenzhen-based smart cycling helmet maker Livall Riding has completed RMB80 million (US$13 million) series A financing led by ChinaEquity Group, according to Chinese media reports. The company also says it has signed an agreement to partner with a Chinese bicycle maker to create a smart bicycle. The company previously raised RMB20 million angel investment from […]

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Beijing-based alcoholic beverage e-commerce company Jiuxian.com has raised RMB500 million (US$80 million) in a new round of financing from undisclosed Chinese investors, according to Chinese media reports. The company says its valuation has been increased to RMB6.5 billion (US$1.05 billion) after this new round. Founded in 2009, the firm has previously completed six rounds of […]

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The Carlyle Group has invested RMB530 million (US$85 million) in Chinese vending machine operator Beijing Ubox Technology & Trade Co., Ltd. for an undisclosed amount, according to a company announcement. The global private equity giant made the investment via its RMB fund, Carlyle Beijing Partners Fund, L.P., which was established with the support of the […]

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Customs officers have arrested four men after finding, for the first time, goods smuggled in altered fuel tanks and battery cases on lorries.

Officers found 432 smartphones and about 50kg of silver beads in seven packs concealed in a false compartment inside a lorry's fuel tank at Lok Ma Chau Control Point yesterday.

The seizure value amounted to about $360,000. The 48-year-old male driver was arrested.

Officers then searched a shed in Tai Po and seized goods totalling $4.43 million, including smartphones, silver bars and beads, smartphone screens and memory cards. Two men aged 35 and 36 were arrested.

Earlier this month, Customs officers found 248 smartphones, worth about $1 million, concealed in false compartments inside two battery cases of a lorry at Lok Ma Chau and arrested the 48-year-old male driver.

Police have arrested a private car driver after his vehicle reportedly struck and killed an elderly man in Hung Hom.

Police believe the car was turning right from a carpark into Man Yue Street when it knocked down the 68-year-old victim about 9.20am today.

He was sent to Queen Elizabeth Hospital where he was certified dead.

The 61-year-old driver was arrested for dangerous driving causing death and is being held for questioning.

Witnesses should call investigators on 2773 5200 or 2773 5262.

Hong Kong’s law and order situation remained stable in the first half of 2015 with overall crime rising 0.3% on the same period last year to 34,034 cases.

At a press conference today, Police Director of Crime & Security Lo Mung-hung said the overall detection rate was 40.4%.

Robbery, assault, domestic violence and serious drug cases recorded year-on-year drops.

However, increases were seen in shoplifting, deception, blackmail and rape.

Telephone deception cases surged 16.3% to 1,370 cases. Mr Lo said these deception cases, involving culprits posing as Mainland officials, have been on the rise, with 929 received so far this year, involving over $85 million.

He warned people to check the identity of callers and not fall victim to fraud.

Police have formed a special task force to tackle these deception cases, and will enhance intelligence sharing with Mainland authorities, and public education.

An overseas direct investment fund launched by China Investment Corporation earlier this year has officially begun operation, and plans to reach US$100 billion in total investment capacity eventually, according to Chinese media reports. The new investment platform, named CIC Capital Corporation, was registered in January with US$5 billion in capital. It will be responsible for […]

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China Investment Corp. has emerged as the winner of an auction, paving the way for it to acquire a property portfolio of nine Australian office buildings from Morgan Stanley's real estate investment arm for an undisclosed amount, according to a company statement. Investa Property Trust, currently held by Morgan Stanley Real Estate Investing, may fetch […]

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Guangzhou city, Guangdong province-based online plastic trading platform Zhaosuliao.com has completed US$36 million series B financing led by New Horizon Capital, according to Chinese media reports. GX Capital, Qiming Venture Partners, IDG Capital Partners, and Zhenshun Fund also participated in the round. The company says it will use the proceeds on expanding its network and […]

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New York Stock Exchange-listed Chinese student tutoring service firm Xueda Education Group has agreed to be acquired by Shenzhen-listed Xiamen Insight Investment Co., Ltd., which is controlled by Tsinghua Unigroup Limited, according to a company announcement. Xiamen Insight has raised its offer and plans to acquire all of Xueda Education's shares for US$5.50 in cash […]

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Shanghai-based P2P (peer to peer) lending platform China Rapid Finance has completed initial closing of US$35 million series C round of financing led by Sino-U.S. private equity firm Broadline Capital, according to a company announcement. An unnamed private equity firm, a family office and other investors also participated in the round, which valued the company […]

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Hanover, New Hempshire-headquartered White Mountains Insurance Group has agreed to sell its subsidiary, Sirius International Insurance Group, to a Singapore-based investment arm of China Minsheng Investment Corp. for approximately US$2.2 billion, according to a company announcement. CM International Holding PTE is to pay cash for the transaction, which will help expand China Minsheng's international insurance […]

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A 27-year-old man, charged with importing endangered species, was today convicted at Tsuen Wan Magistrates' Courts and fined $62,000.

Customs officers seized about 15 kilogrammes of ivory tusks and ivory products worth about $150,000 from the man, who flew from Lagos via Dubai, at the airport yesterday.

Under the Protection of Endangered Species of Animals & Plants Ordinance, convicted offenders can be fined $100,000 and jailed for one year. 

China-focused venture firm GSR Capital has launched a new mergers and acquisitions (M&A) fund with a capital raising target of US$5 billion, according to a company announcement. The fund has already secured US$1 billion commitments from GSR GO Scale Capital Limited Partners and other unnamed institutional investors. It aims to make international investments in clean […]

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