Alibaba Group Holding Limited and Suning Commerce Group Limited have agreed to form an extensive strategic alliance to create a far-reaching O2O (online-to-offline) e-commerce platform, according to a company announcement. Alibaba says it will invest approximately RMB28.3 billion (US$4.63 billion) for a 19.99% stake in Suning, one of the largest consumer electronics retail chains in […]

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IDG Capital and the Carlyle Group have agreed to invest as much as US$1 billion in Chinese real estate online portal SouFun Holdings Limited, according to a company announcement. The pair, together with SouFun's founder and CEO Vincent Mo, are to purchase SouFun's newly issued shares at US$7.45 per American Depository Share (ADS), a 3% […]

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Customs officers seized 95 live turtles found in five inbound air parcels worth $95,000 at Hong Kong International Airport today.

The parcels, declared as "used books", were sent from Los Angeles.

The turtles are now in the care of the Agriculture, Fisheries & Conservation Department.

Beijing-based installment-based online shopping platform Qufenqi.com has completed a new round of financing from undisclosed investors, according to Chinese media reports citing the company's CEO. Launched in March 2014, Qufenqi.com has completed five funding rounds in less than 18 months. It received series A investment from BlueRun Ventures; and series B funding from Source Code […]

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