Shanghai-based Haochushi, a mobile and online platform letting users hire nearby chefs and cooks to come to their home, has completed RMB100 million (US$16 million) series B round of financing led by Shenzhen Cowin Capital, according to a company announcement. Existing investor Lightspeed Venture Partners also participated. Haochushi says it plans to use the proceeds […]

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.

Shanghai-based used electronics trading and recycling platform Aihuishou has received US$60 million series C round of financing led by Tiantu Capital, according to Chinese media reports. JD.com Inc., existing investors Morningside Ventures and the International Finance Corporation (IFC) also participated. Aihuishou, which means "love recycling" in Chinese, reportedly completed US$2 million series A funding from […]

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.

Santa Ana, California-based Cold Genesys Inc., a healthcare firm focusing on the development of oncolytic viruses and immunotherapies for cancer, has completed US$10 million series B round of financing co-led by Ally Bridge Group and WI Harper Group, according to a company announcement. Whitesun Healthcare Ventures and an individual investor also participated. The proceeds will […]

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.

Chinese video sharing platform AcFun has received US$50 million strategic investment from video site Youku Tudou Inc., according to Chinese media reports. AcFun did not respond to an inquiry to confirm the news. China Money Network cannot verify the funding round. Founded in 2007, AcFun provides live comment displays for online video comment sharing. The […]

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.

Customs and Police officers shut down a syndicate selling counterfeit goods last month, arresting three people.

Over 30,000 products worth $3 million, including leather goods, watches, apparel, footwear, sunglasses and perfume, were seized.

It was a record seizure in terms of quantity in the past decade.

Two upstairs showrooms and a storehouse located in Tsim Sha Tsui and Tsuen Wan were raided.

The arrestees, aged 32 to 37, included a man who is the suspected mastermind of the syndicate and two women.

Apart from operating upstairs stores, the syndicate had a sales network with a membership scheme, said Customs Divisional Commander of Intellectual Property Transnational Investigation Cheuk Tak-wai. He appealed to people to shop at retail stores with a good reputation or at official brand stores.