China plans to grant foreign venture capital investors equal treatment compared to domestic firms and allow state-owned companies to set up their own venture funds, in accordance to a national strategy of creating an innovation-driven economy. According to a statement published on Xinhua from China’s cabinet after a meet led by premier Li Keqiang, China […]
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Annabelle Long, founding managing partner of Bertelsmann Asia Investments (BAI), took eight years to make the strategic investment arm of media company Bertelsmann in China a top venture player. Mention BAI to any entrepreneurial-spirited person in Beijing or Shanghai, the name needs no introduction. Compared to IDG Capital Partners and Matrix Partners, BAI, founded in […]
China Resources Healthcare Group Ltd. is near completion of a back-door listing in Hong Kong via a reverse merger with Phoenix Healthcare Group Co., Ltd., according to a disclosure filing. The transaction, initially announced in April, will see Phoenix Healthcare acquire a unit of CR Healthcare by issuing 463 million new shares at HK$8.04 apiece […]
Shanghai couples are rushing to get divorced amid speculation that the city may tighten mortgage rules to further cool its housing market. In Jing’an district, 108 couples were divorced in one day, compared to less than ten divorces daily during calmer times. In other districts, divorce quotas are issued to limit the number of divorces. […]
Didi Chuxing, China’s largest ride share company, announced a partnership with nearly 50 taxi companies across ten Chinese cities to launch new initiatives geared towards improving their efficiency, according to a company announcement. The news came after earlier media reports pointed to Didi’s plans to potentially acquire one or more taxi companies in China. “DiDi […]
As an investor behind both industry leaders Alibaba Group Holding Ltd and Didi Chuxing, GGV Capital has invested in nearly 180 projects in the U.S. and China. Do they measure up compared to the successes of Alibaba and Didi? As a venture firm established in 2000, GGV established a Shanghai office in 2005. In 2008, […]
The good old days are gone for bulge bracket banks in Asia. For the past ten years, its investment banking revenue in Asia Pacific ex Japan remained at roughly the same level, while its market share halved from 40% in 2006 to 21% year-to-date 2016, according to data released by Dealogic. (This chart is from […]
Chinese Internet search engine giant Baidu Inc. has decided to end a food-delivering drone project to focus on artificial intelligence, according to remarks made by a company executive in Beijing reported by Chinese media. Lin Yuanqing, senior director at Baidu’s Deep Learning Laboratory, said during the China Artificial Intelligence Conference last week that Baidu plans […]
A total of 63 investments with aggregate deal value of RMB11 billion in the sports sector were recorded during the first half this year, up nearly 300% in terms of deal value compared to the RMB3.6 billion registered for the whole year of 2015, according to data from ChinaVenture. There were 144 investment transactions in […]
Baidu Inc.’s investment department has been lagging behind the market and missed big opportunities due to a lack of coherent strategy and a rigid corporate culture. The failure of Baidu’s investment unit to capture future leaders in emerging industries has widened the gap between Baidu and its two peers, Alibaba Group Holding Ltd. and Tencent […]