Chinese construction machinery manufacturer Zoomlion Heavy Industry Science and Technology Co., Ltd. plans to establish an industry investment vehicle with a fundraising target of RMB3.21 billion (US$481 million) to capitalize on industrial consolidation and state-owned enterprise reforms. China's central and local governments, as well as state-owned enterprises (SOE) and industry associations, have been launching industry […]
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HNA-Caissa Travel Group has led a RMB550 million (US$82 million) series B financing round in a travel financial services subsidiary under the HNA Group. HNA-Caissa Travel, 31.79% owned by the HNA Group, will own 7.94% stake and become the second largest shareholder of Yisheng Jinfu Holding Group, a HNA unit focused on providing travel-related financial […]
The Industry of Virtual Reality Alliance has been established in China as part of the government's effort to partner with …
Live streaming mobile app Huajiao Live Video, backed by Qihoo 360 Technology Co. Ltd., has raised RMB300 million (US$45 million) in a series A funding, in yet another deal in the red hot live video sector. The lead investor is a Chinese state-owned entity named Zhongshoujian, whose identity cannot be verified. Qihoo 360 also joined […]
Foreign mobile advertising companies are prohibited from gaining an operating license in China, so it makes sense for a foreign …
China's largest Internet companies, including Alibaba Group Holding and Tencent Holdings Ltd., are rushing to establish themselves as leaders in the smart car revolution with distinctively different strategies. These tech giants want to shape the future of the world's largest automobile market, which despite a growth deceleration still expanded 7.3% in new vehicles sold last […]
China's Ministry of Industry and Information Technology (MIIT) has teamed up with companies and research institutions to establish a virtual reality (VR) industry alliance to enhance the development of the VR ecosystem in China. The association, named the Industry of Virtual Reality Alliance (IVRA), will do so by promoting technology innovation and the formulation of […]
CAC Capital Management, a Shenzhen-based venture and private equity firm, has agreed to acquire the China business of Denmark's NKT Holding, a cables and wires supplier. The deal has an enterprise value of €14.3 million (RMB107 million), says an announcement. "We have been in China for a long time and executed well on some milestone […]