The enormous growth in the number of Chinese venture funds, against the backdrop of a cooling investment market, could potentially bring disastrous impact to venture investing and start-ups in the country, a senior Chinese official warned. The number of venture capital funds in China has more than doubled to 1,216 at the end of October, […]
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China’s State Council reemphasized the importance of further development of the country’s travel, culture, sports, health and education sectors in an official statement, encouraging social and private capital to deepen investment in them. Private capital is encouraged to improve service quality and supply in what the Chinese cabinet calls “Happiness Industries,” according to a statement […]
Alibaba Pictures Group is to acquire a 30% stake in Chinese film investment company Hehe Pictures to become its second largest shareholder, the firm announced today. The investment value was not disclosed. “Hehe Picture has made innovative progress in movie investment and distribution,” said Zhang Qiang, chief executive of Alibaba Pictures. “We hope to explore […]
The China Securities Regulatory Commission (CSRC) and the Hong Kong Securities and Futures Commission (SFC) have approved the official launch of Shenzhen-Hong Kong Stock Connect to commence on December 5, boosting the Hong Kong market today. The Hang Seng Index closed the morning session up 0.71% to 22,885.08 on Monday, while the Hang Seng China […]
Uber China bids a formal farewell to the country, as its Chinese mobile app is to be replaced by Didi Chuxing in two days, less than three years after the global ride share giant entered the Chinese market. After acquiring all assets of Uber China via a share swap in August, Didi Chuxing has been […]
China’s pork industry will provide ample investment opportunities as the RMB1.4 trillion (US$202 billion) sector consolidates and transforms in the next decade with the help of Internet technology, Chinese venture firm Frees Fund said in a report today. Specifically, pig farms will be further consolidated as small-scale operations are put out of business. The downstream […]
Ctrip.com International, Ltd. has agreed to acquire all shares of Skyscanner Holdings Ltd., a U.K.-based global travel search site, for approximately £1.4 billion (US$1.74 billion), the Chinese travel giant said. The purchase price consists of cash mainly, with the minority in Ctrip shares and loan notes. The deal has won board approval at both companies […]
China’s corporate venture capital firms participated in roughly US$2 billion across 29 deals during the first half of 2016, with the second quarter registering the slowest activity since 2014, according to data from CB Insights. There were 12 deals inked by Chinese corporate venture units with total deal value of US$282 million during the second […]
Chinese technology giants including NetEase, Tencent’s Wechat, Huawei, Alibaba are gaining massive brand value, despite a slowing economy in the country, according to a new report released by Brand Finance. NetEase is China’s fastest growing brand as it doubled its brand value to US$3.6 billion in 2016. The company enjoyed massive success by developing popular […]