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.