Jiangsu province-based P2P (peer-to-peer) lending platform Kaixindai Financing Services has completed RMB200 million (US$34 million) angel investment from China Development Bank and other investors. China Development Bank Capital Corporation Ltd. and a group of financial services firms in Jiangsu province invested together, according to Chinese media reports. Kaixindai says it plans to use the proceeds […]

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Shenzhen-based Dadabus, a mobile app that allows users to share customized bus rides, has completed RMB200 million (US$32 million) series B round of financing from Northern Light Northern Light Venture Capital and a new Chinese venture firm Jinqiao Capital. Launched in March this year, the six-months-old app maker has already received angel investment and RMB37 […]

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Questions on whether China has enough foreign reserves in the face of record capital outflows from the country are a reflection of extreme market pessimism. These doubts are easily resolved with some simple facts, says a research report by UBS AG. By the bank's estimation, China's official foreign reserves are four times China's total foreign […]

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Shenzhen-based Idea International Development Limited, a smartphone 4G LTE solution provider, has completed US$35 million series A round of financing from an undisclosed investor, according to Chinese media reports. The company says it will use the proceeds to improve its research and development, as well as seek international cooperation and expand marketing efforts. Founded in […]

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Alibaba Group Holding Limited and its financial services arm Ant Financial Services Group have agreed to make a strategic investment in One97 Communications, the parent company of India’s largest mobile payment and commerce platform Paytm, according to a joint announcement. Financial details are not disclosed. The investment follows an initial investment in One97 Communications by […]

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Venture-backed Chinese ride share company Didi Kuaidi has invested an undisclosed amount in India's Ola, a local ride share start-up. The investment is part of Ola's latest financing round, which is reportedly US$500 million and values the start-up at US$5 billion. Didi Kuaidi's investment is around US$30 million, according to local Indian media. Didi Kuaidi […]

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In this episode of China Money Podcast, guest Mark McFarland, global chief economist at private bank Coutts & Co. Limited, speaks to our host Nina Xiang. He shared his views on why investors should not focus too much on the near-term volatility in the Chinese economy and markets, why the RMB has limited space for […]

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Customs officers distributed pamphlets in various districts today offering consumers smart shopping tips and reminding traders to abide by the law.

The promotional exercise will continue through the holidays in late September and early October.

The department reminded consumers to be cautious about unit prices and ask for more information, including the goods' total price before buying. For medicinal products, they are advised to know the brands' packaging, inspect products thoroughly and keep receipts. They should also patronise reputable shops.

Traders were reminded to abide by the Trade Descriptions Ordinance, under which it is illegal to omit or hide information, or provide unclear and ambiguous information when selling goods.

The maximum penalty is a $500,000 fine and five years' imprisonment.

Call 2545 6182 to report suspected violations.

Customs officers seized around 16 kg of suspected cut ivory and arrested a man at the airport today.

Officers stopped the 26-year-old passenger who had arrived from Abuja, Nigeria via Dubai, United Arab Emirates and found $160,000-worth of ivory in his luggage.

The case has been handed over to the Agriculture, Fisheries & Conservation Department.

Hedge funds with assets-under-management of less than US$100 million posted the lowest returns and had the highest volatility compared to funds managing more assets, according to the results of a new study released by Preqin. In contrary, hedge funds with asset-under-management of US$1 billion or more posted the greatest returns with the lowest volatility. As […]

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A Hong Kong-listed unit of Chinese property developer Gemdale Corporation has partnered with Californian real estate firm LaTerra Development to form a joint venture that will build a US$125 million mixed-use project in Hollywood. In a joint announcement, Gemdale Properties and Investment says this investment will be the first of many deals as the company […]

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A fire broke out at Shaukeiwan Typhoon Shelter yesterday afternoon, setting several vessels ablaze.

The fire started at 2.01pm yesterday. It was upgraded to a No. 3 alarm at 2.38pm.

Using eight monitors, four jets and five breathing apparatus teams, firefighters extinguished the blaze by 11.57pm.

Five people sustained minor injuries and were sent to Pamela Youde Nethersole Eastern Hospital.

Customs officers have arrested four women after finding 2.5kg of cocaine worth $3.1 million at the airport.

Officers found the drug in false compartments in two suitcases two women carried from Manila on September 25.

They have arrested another two women who tried to leave Hong Kong airport this morning.

The four women, aged 29 to 46, will face drug trafficking charges at Tuen Mun  Magistracy tomorrow.

This is the second dangerous drug trafficking case of a similar nature detected by airport Customs within a week.

A 61-year-old man has died after the truck he was driving rammed into a wall as he was reversing it inside a car park on Wah Sing Street in Kwai Chung yesterday.

The incident occurred at about 6pm.

The driver was sent to Yan Chai Hospital where he later died.

Witnesses should call Police on 3661 1300.

Customs officers have arrested a 17-year-old man and seized 5kg of ketamine worth $730,000 in Yuen Long yesterday.

He was charged with trafficking and will appear at Tuen Mun Magistracy tomorrow.

Customs officers seized 13 kilogrammes of worked ivory products worth $130,000 and arrested a 27-year-old man at the airport yesterday.

The officers found the ivory products concealed in a tailor-made vest in his baggage after the man arrived from Harare, Zimbabwe via Dubai.

The case has been handed to the Agriculture, Fisheries & Conservation Department.

Mark McFarland, global chief economist at private bank Coutts & Co. Limited, tells China Money Podcast host Nina Xiang that Hong Kong-listed Chinese Internet leaders and banks are preferred sectors for gradual market re-entry. Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in […]

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.

Mark McFarland, global chief economist at private bank Coutts & Co. Limited, tells China Money Podcast host Nina Xiang that China has plenty of room to loosen monetary policy if needed, and is likely to cut bank reserve requirement ratio two or three times by the end of 2016. Visit ChinaMoneyNetwork.com for more daily finance […]

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.

Mark McFarland, global chief economist at private bank Coutts & Co. Limited, tells China Money Podcast host Nina Xiang that the RMB has limited space to depreciate further and the Chinese government will be able to keep a relatively stable exchange rate going forward. Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video […]

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.

Mark McFarland, global chief economist at private bank Coutts & Co. Limited, tells China Money Podcast host Nina Xiang that investors should look beyond the current slowdown to realize that an economic slowdown in China is good for everyone as there will be less waste of resources. Visit ChinaMoneyNetwork.com for more daily finance news, including […]

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 conglomerate Fosun Group and the Zhejiang provincial government have jointly launched a fund-of-funds (FoF) with a fundraising target of RMB10 billion (US$1.6 billion) to focus on cross-border deep value investment opportunities and help drive economic upgrade of the province. In an announcement posted on a government website, the RMB-denominated Zheshang Growth Fund says it […]

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