China has started developing the first “state-level” civilian passenger airship to lift the country’s aviation industry to a new level, said the Chinese state-owned aerospace and defence conglomerate Aviation Industry Corporation of China, Ltd. (……

The arrest and subsequent release of JD.com Inc’s CEO Richard Liu on sexual misconduct in Minnesota in the United States have caused an uproar on the Internet in China with opinions split among deep disbelief to sharp criticism. The billionaire f……

Chips, once an industry shunned by entrepreneurs and businesses in China because of its high technology barrier, is now attracting companies from all sectors as China strives to lessen reliance on imported chips. The latest is Zhuhai, Gunagdong Province-based Gree Electric, a Chinese appliance manufacturer, who has set up a new unit to expand to the semiconductor space. The new firm, Zhuhai Zero Border Integrated Circuit Co. Ltd., was established with a registered capital of RMB1 billion (US$150 million), according …

Chinese Electronics Firm Gree Sets Up $1B Unit To Expand To Semiconductor Sector appeared first on China Money Network.

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China has launched various 5G scale test and application pilot programs, while local governments are setting 5G coverage schedules and accelerating infrastructure construction, as the country races to seize the advantage of 5G technology, according to multiple Chinese media reports. According to the Ministry of Industry and Information Technology (MIIT), China will realize 5G commercialization by 2020. Three major Chinese telecom operators, China Mobile, China Unicom and China Telecom, are accelerating the 5G pilot layout, launching 5G pilots in major …

Race For 5G Deployments Heats Up Across China appeared first on China Money Network.

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Chinese smartphone giant Huawei will launch its first smart TV before end of this year, to enter the increasingly competitive smart TV market in China, according to Chinese media citing insiders. Huawei’s first TV may have two versions, one 43-inch beginner level and one 65-inch targeting the high-end consumers. The products will be released under Huawei’s Honor brand in order to test the market. After this launch, Huawei also plans to launch a higher-end smart TV, running its own Kirin …

Chinese Smartphone Giant Huawei To Reportedly Enter Smart TV Market appeared first on China Money Network.

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Hong Kong-based real estate private equity firm Gaw Capital Partners announced the acquisition of Bell City mixed-use development for AUD$157 million (US$ 113 million) in Melbourne’s Preston precinct via GCP Hospitality, according to the company’s announcement. GCP Hospitality is the hospitality arm of Gaw Capital Partners, a private equity fund management company focusing on adding strategic value to under-utilized properties in the global market. GCP Hospitality runs over 39 properties and provides hotel management, asset management, and business development services  …

Hong Kong-based Gaw Capital Acquires Melbourne’s Bell City For $113M appeared first on China Money Network.

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American seed accelerator Y Combinator recently announced its China plans and appointed Baidu’s former COO Lu Qi as its CEO, according to a Chinese media report. Founded in 2005, Y Combinator has invested in more than 1,900 start-ups with a total valuation of US$100 billion. Its portfolio includes  companies like short-term rental platform Airbnb Inc., file hosting service Dropbox and social discussion website Reddit. Y Combinator China will also raise capital to invest in early-stage projects. In an interview with the …

US Seed Accelerator Y Combinator Appoints Baidu’s Former COO Lu Qi To Head Its New Chinese Business appeared first on China Money Network.

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China Literature — the Tencent e-publishing venture that went public with a US$1 billion IPO last November— announced that it would acquire Chinese digital production company New Classics Media for around RMB 15.5 billion (US$2.2-2.3 billion), according to a media report. WeChat owner Tencent paid existing backer Chinese VC Enlight Media US$524 million for a 27.64% stake in New Classics Media in March this year, valuing NCM at about US$1.9 billion then. For the latest deal, China Literature said it will pay RMB5.1 …

Tencent-backed China Literature Acquires Chinese Digital Producer New Classics Media for $2.2B appeared first on China Money Network.

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Matrix-backed Chinese graphic social media tool Meipian, recently announced the completion of its series B round worth billions of RMB. Matrix Partners continues to increase its investment while other investors in this round include Mango Cultural Creativity (Shanghai) Equity Investment Fund and Zhen Fund. The funds will be mainly used to further deepen the content reading community, optimize the accuracy of intelligent recommendation and mine more high-quality content; explore tools in the video field. With the completion of this round …

Chinese Image Editing Social Media Tool Meipian Raises Series B Round appeared first on China Money Network.

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After completing the docking with Alibaba’s Tmall store, Ali Health, RT-Mart, Freshhema and other commercial entities, Ele.me announced that it had completed the entrance docking with Hellobike. Ever since Alibaba bought Ele.me, it is trying to further integrate Ele.me’s services into Alibaba’s ecosystem and help advance Alibaba’s New Retail strategy. In June, Alibaba’s financial services unit Ant Financial invested RMB2.06 billion (US$321 million) in bike sharing firm Hellobike, making it a unicorn company in China. This cooperation is not a only a …

Alibaba’s Food Delivery App Ele.me Establishes Cooperation With Hellobike appeared first on China Money Network.

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