Shenzhen-based cross-border e-commerce service provider Youkeshu has completed RMB400 million (US$65 million) series B round of financing led by two Shenzhen-listed companies, according to a company announcement. Xiamen Academy of Buliding Research Group and Zhuhai Hiashilong Health Food Co., Ltd led the round. Shanghai NewMargin Ventures Co. and Haitong Innovative Capital Management, the direct investment […]

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Beijing-based smartphone maker Xiaomi Inc. has hired DST Investment Management Ltd's partner Shou Zi Chew as chief financial officer, according to media reports. The Hong Kong-based Chew played a key role in DST's participation in Xiaomi's financing round. In December 2014, Xiaomi completed over US$1 billion new round of financing led by All-Stars Investment Ltd., […]

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Beijing-based mobile sales management tool FXiaoKe has completed US$100 million series B round of financing from IDG Capital Partners, DCM and Northern Light Venture Capital, according to a company announcement. Launched in 2011, FXiaoKe previously received several million U.S. dollars in series A funding from IDG Capital in July 2012. It received US$10 million series […]

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Global private equity giant Warburg Pincus LLC has teamed up with Hong Kong-listed Chinese car rental firm Car Inc. to invest a total of US$250 million in Ucar Group, a mobile app-based chauffeured car service firm controlled by Car Inc.'s founder and CEO, according to a securities filing. Car Inc. will purchase 2.5 million series […]

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Chinese venture capital firm Qiming Venture Partners says it has promoted William Hu to managing partner, effective immediately, according to a company announcement. Hu has been with Qiming for nearly nine years, having led and participated in many Qiming healthcare deals, including Qiming's investment in Tigermed, BBI Lifescience, Coland Pharma, Arrail Dental, Tellgen Life Science, […]

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China’s official manufacturing purchasing managers index (PMI), the bellwether of large industrial firms, remained unchanged at 50.2 in June. In the meantime, HSBC China flash PMI edged up to 49.6 in June from 49.2 in the prior month. "Real activity indicators remained sluggish in April and May, and the electricity generation dropped again in early […]

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Secretary for Justice Rimsky Yuen will visit Beijing from July 3 to 6 to attend the inaugural ceremony of the Zhonghua Research Institute of Judicial Studies.

He will deliver a keynote speech at the first summit on Zhonghua judicial studies.

He will share Hong Kong's experience in international and regional judicial co-operation.

He will also meet with officials of the Hong Kong & Macao Affairs Office.

Hong Kong immigration officers today visited the three remaining Hong Kong residents injured in the Taiwan fire.

Families of two of the victims said the pair are not yet fit to return to Hong Kong.

The remaining victim has been living with family in Taiwan and will stay there.

The department said it will keep close contact with the families to render assistance.

Sino-French private equity firm Cathay Capital Private Equity has launched Sino-French Innovation Fund, a cross-border investment vehicle focused on making venture investments in innovative start-ups in France and China, according to a company announcement. The new fund aims to raise €200 million to €250 million (US$277 million) in total commitments. Similar to its earlier Cathay […]

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A new law voted unanimously yesterday by the standing committee of the National People's Congress will enhance the Chinese government's control over the Internet. Neither the actual text nor the commencement date of the full law has yet been released. But Chinese domestic media report that the law gives the government far-reaching and vague powers […]