Asia ex-Japan hedge funds suffered their worst month in June since 2013, down 1.58% and recorded US$1 billion performance-based losses as the Shenzhen and Shanghai Composite Indices declined by 11.78% and 7.25% during the month respectively, according to data released by Eurekahedge. Globally, after five months of consecutive gains, hedge funds posted their first monthly […]

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Beijing-based cosmetic surgery mobile app GengMei has completed tens of million U.S. dollar series B round of financing led by Vivo Capital, according to Chinese media reports. Sequoia Capital also participated. The company says it will use the proceeds to expand its scope of services to areas including dental, skincare, nutrition, and anti-aging. Launched in […]

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Chinese e-commerce firm Alibaba says its Aliyun cloud computing subsidiary has a new data protection pact that supposedly protects user data. At an event held today in Beijing, Simon Hu, president of Aliyun, announced the pact and promised to abide by this pledge to protect user data and business data privacy for all of its […]

Customs officers yesterday arrested a 19-year-old woman and seized 2kg of ketamine worth $260,000 at Lo Wu Control Point.

The drugs were found inside the bag she was carrying.

She has been charged with drug trafficking and will appear at Fanling Magistracy tomorrow.

Customs officers have seized 1,100 bottles of counterfeit make-up remover in the past three weeks.

Acting on information from a trademark owner, officers searched 12 retail outlets and seized $120,000 worth of the fake products.

Seven men and nine women, aged 24 to 58, were arrested.

The Customs & Excise Department advised consumers to report suspicious products on its 2545 6182 hotline.

Shanghai-based Chinese online classified advertising firm Baixing.com has reportedly received RMB2.2 billion (US$354 million) series E financing from CITIC, Suzhou High-tech Venture Capital Group, Shenzhen Capital Group, and other investors, according to Chinese media reports. After the latest financing round, Baixing.com is said to plan an initial public offering on China's domestic stock exchanges. Representatives […]

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Beijing-based mobile app testing firm Testin has raised US$54.9 million series B round of funding led by Haiyin Capital, according to Chinese media reports. IDG Capital Partners and Banyan Capital also participated in the round. Founded in 2011, Testin provides testing and analysis services for mobile app makers before their product launch. Visit ChinaMoneyNetwork.com for […]

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