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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