China-focused private equity firm Hony Capital is seeking to raise US$2 billion for a new Greater China investment vehicle, according to media reports. Hony Capital Fund VIII will have one U.S. dollar-denominated pool and one RMB-denominated pool, with each seeking to raise US$1 billion. Representatives at Hony Capital did not immediately respond to inquires to […]

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Yhouse, a Shanghai-based mobile app maker focused on providing information, reservation services and social networking for China's wealthy population, has completed RMB120 million (US$19 million) series B round of financing led by SAIF Partners and Shenzhen Fortune Venture Capital. In a company announcement, the company says it will use the proceeds on market expansion and […]

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Hangzhou-based online healthcare service provider GuaHao.com has received over US$300 million investment from undisclosed investors at a valuation of US$1.5 billion, according to Chinese media reports. Guahao.com did not immediately respond to an inquiry to confirm the news. In October 2014, GuaHao.com received over US$106.5 million investment led by Chinese Internet services giant Tencent Holdings […]

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A 55-year-old man has died after he was reportedly struck by a public light bus in Tsim Sha Tsui.

The accident happened at about 5.25pm, as the minibus was turning right into Nathan Road from Salisbury Road.

The man was sent to Queen Elizabeth Hospital where he later died.

The 40-year-old minibus driver was arrested for dangerous driving causing death.

Witnesses should call Police on 2773 5200 or 2773 5262.

The Government lowered the Outbound Travel Alert for Bangkok from red to amber today in view of the latest situation there.

The alert is now the same as for other parts of Thailand.

The Security Bureau said it will monitor the situation and issue updates through the media and its website.

Hong Kong people who intend to visit the country, or who are already there, should exercise caution, attend to personal safety, and avoid protests and large gatherings of people.

Those who need assistance can call the Immigration Department 24-hour hotline (852) 1868 or the Chinese Embassy in Thailand (66) 854833327.

About 10.08 million people will pass through Hong Kong's control points during the Mid-Autumn and National Day festive periods, from September 25 to 28 and from September 30 to October 7, up 3.6% on last year, the Immigration Department estimates.

About 74.4%, or 7.5 million passengers, are expected to pass through land boundary control points.

The number of outbound passengers using land boundary control points is forecast to peak on September 26, with about 368,000 passengers leaving Hong Kong, while the number of inbound travellers will peak on October 2, with an expected 372,000 people arriving in the city.

Lo Wu is forecast to be the busiest control point, with an estimated 2.9 million passengers passing through it.

The department has deployed additional staff to reinforce control points to cope with the anticipated traffic.

Shanghai-based Teambition, a cloud-based collaboration and project management tool, has completed US$12 million series B round of financing led by Northern Light Venture Capital. Existing investors IDG Capital Partners, Vangoo Investment Partners and Microsoft Ventures also participated, according to a news article posted on the company's website. Founded in 2013, Teambition completed US$5 million series […]

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Hong Kong's economy is expected to lose a lot of momentum in the second half this year, with the economy easing to below 1.5% year-on-year from 2.6% during the first half. For 2016, growth could decelerate further to 1%, well below trend and the lowest since 2009, says a research report by UBS AG. But, […]

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Beijing-based P2P (peer to peer) car sharing platform PPzuche.com has completed US$50 million series B round of financing led by Tiantu Capital, according to Chinese media reports. China Money Network cannot verify the news. Representatives at PPzuche.com did not immediately respond to an inquiry to confirm the funding round. In November 2014, it was reported […]

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New York Stock Exchange-listed Chinese after-school tutoring firm TAL Education has agreed to acquire English tutoring O2O (online-to-offline) company Firstleap Education for an undisclosed amount. Founded in 2009, Firstleap provides all-subject tutoring service in English in China to children aged from 2 to 15 years old through both its online platform and over 60 learning […]

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The Hong Kong Science and Technology Parks Corporation (HKSTP) and Vancouver, Canada-based alternative energy venture firm Chrysalix Energy Venture Capital have formed a new partnership to nurture clean technology and new energy innovation in China. According to a joint announcement, the partnership is established under the Hong Kong Science Park Venture Capital Partnership Program run […]

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Last month, the Chinese government (to b…