A new energy subsidiary of Beijing Automotive Group (BAIC Group) has delivered the first few battery-switch stations for EV taxi in Beijing, as China continues to fight against severe pollution in the country. The stations form the largest network in the world for electric taxi battery charging and swapping, BAIC BJEV said in a statement. […]
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China-based private equity funds are moving into Western developed markets at a faster face. They invested US$7.4 billion via cross-border deals into Europe and North America during the first six months in 2016, already exceeding the US$5.8 billion recorded for last year, according to a reported jointly produced by Houlihan Lokey, Mergermarket and the Asian […]
As the U.S. government examines Chinese investors’ inroads in Hollywood, it appears that the American and Chinese film industries are inching toward greater cooperation. Sony Pictures Entertainment announced today that the studio is launching a China Writers Initiative, in which Sony Pictures will select four writers at a time for a two-week stay in Los […]
Since 2015, 92 companies globally have raised capital or were sold at a lower valuation in major transactions, in what venture circles call down rounds or down exits, according to data tracker CB Insights. There are quite a few Chinese companies on that list. Here, we list some of the biggest down rounds that would […]
The US$1.4 billion IPO from ZTO Express is the first listing of a Chinese express delivery firm in the U.S. It opens a rare window through which global investors can gain a peek inside China’s gigantic and ultra-competitive express delivery industry. Four major Chinese competitors of ZTO have or are in the process of listing […]
As venture deal value in China collapsed 64% to US$3.9 billion in the third quarter from US$10.9 billion last year, healthcare investments in the country held up relatively well as investors remain bullish on the sector. A total of 48 venture capital and private equity deals took place in China’s healthcare sector during the third […]
China’s Xiaomi has lost a key executive Chen Tong (pictured), an ex-editor in chief of Sina.com hired by the smartphone maker two years ago to help revamp its content platform. Chen will return to the media world, joining Phoenix New Media and its news app subsidiary Particle Inc. as president, according to Chinese media reports. […]
During the last two years until September 2016, seven new countries are now using the RMB for more than 10% of their direct payments by value with China and Hong Kong, bringing the total to 57 countries worldwide, according to the Society for Worldwide Interbank Financial Telecommunication (SWIFT). The 10% milestone, also known as “crossing […]
Ant Financial Services Group, a financial services affiliate of Alibaba Group Holding Ltd., is rumored to be in discussion with Beijing Guoan Football Club to take a 40% stake in the Chinese Super League participant. Ant Financial will become the largest shareholder, if the deal proceeds as expected, while Guoan’s existing control shareholder CITIC Group […]
In a short span of 13 months, over US$300 million in venture funding has been raised to support co-working space projects in China, as over half a dozen start-ups are vying to cater to growing demand for more flexible and collaborative work environment. More than 500 co-working space sites were set up in Beijing and […]