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 […]
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The Li Ka Shing Foundation, a charitable organization founded by Hong Kong tycoon Li Ka-shing, disclosed that Li and three of his foundations have purchased 2.8% of Postal Savings Bank of China Co. Li Ka-shing has absolute confidence in the Chinese bank, and is investing as a personal long-term investment, according to an announcement. Li […]
Shenzhen-listed Aier Eye Hospital Group Co., Ltd. has agreed to invest US$30 million in Qihoo 360 Technology Co. Ltd. to capitalize on a potential A-share listing of the privatized Internet company at a much higher valuation. The investment, to be done via a subsidiary of Aier Eye Hospital, is a first for Qihoo 360 after […]
Didi Chuxing has invested US$10 million in ofo, an urban bicycle sharing platform, to expand the Chinese ride share giant’s operations into the so-called last mile mobility space. As part the investment, DiDi plans to include ofo bike sharing offerings on its own mobile apps. U.S. ride share company Uber has used bicycle to deliver […]
Chinese securities regulators have approved the initial public offering application submitted by official news agency website Xinhuanet.com to list on the Shanghai stock exchange. Xinhuanet.com revealed in June that it planned to issue 51.9 million shares to raise about RMB1.49 billion (US$223 million) in a Shanghai IPO, three years after it initially applied in 2013. […]
Canada Pension Plan Investment Board (CPPIB) has signed a memorandum of understanding with the National Development and Reform Commission (NDRC) of China to offer CPPIB’s expertise in assisting Chinese policy-makers as they address the challenges of China’s aging population. The Canadian pension manager is expected to help with pension reform and the promotion of investment […]
Postal Savings Bank of China Co. has raised US$7.4 billion in the world’s biggest initial public offering in two years, after pricing its shares at HK$4.76 apiece yesterday in Hong Kong. It is the biggest IPO globally after Alibaba Group Holding Ltd.’s US$25 billion offering in September 2014 on the New York Stock Exchange. But […]
The recent surge of property prices and sales in China has triggered bubble talk and concerns over one of the most important pillars of the Chinese economy, but UBS AG says there is unlikely to be a big bubble burst in the near future. Property sales grew by more than 25% nationwide in the first […]
Chinese search engine giant Baidu Inc. is planning to establish a RMB1 billion (US$150 million) fund to support content producers and enrich content offerings to Baidu users, Chinese media reported. The fund follows similar moves made by Tencent Holdings Ltd. and Chinese news recommendation app Toutiao, both have established content support funds with hundreds of […]