Prometheus Capital and China Minsheng Investment have joined a US$150 million new funding round in Beijing-based online used car marketplace RenRenChe, according to Chinese media reports. New investors in the round also included HanFor Holdings and Xinjun Capital, while existing investors Shunwei Capital, Ceyuan Ventures and Redpoint Ventures also participated. Since being launched in April […]
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Tencent Holdings Ltd. has surpassed China Mobile Communications Corporation to become the biggest listed company in Asia in terms of market capitalization, which reached a whopping HK$1.976 trillion (US$255 billion) after its shares climbed 3.77% today. China Mobile's market capitalization stood at at HK$1.974 (US$254.7 billion), while Alibaba Group Holding Ltd. has a market capitalization […]
A number of Chinese asset managers are selling Meituan-Dianping's shares at a discount as wealth management products to retail investors, while the Chinese group buying and online review company continues to face stiff competition in its businesses. Yizhou Asset Management and Hengtian Rongze Asset Management are among several Chinese managers offering wealth management products targeted […]
The so-called government guidance funds in China have flourished since 2015, but they face a number of inherent challenges and are raising a difficult question: Can they guide capital to turn China into an innovative nation and allow investors to achieve decent returns? At the end of June, there were 911 government guidance funds in […]