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 […]
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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, […]
China Everbright Limited (CEL) and Focus Media Information Technology Co., Ltd. have agreed to establish an new industry investment fund with a targeted fundraising total of RMB5 billion (US$749 million), according to a company announcement. The fund will seek to raise RMB2 billion initially. It will focus on high-growth, early-stage projects in emerging opportunities in […]
Hony Capital has raised its eighth private equity fund with US$2.2 billion in total commitments, lower than previously reported US$2.7 billion, according to parent Legend Holdings Corporation's interim report. At the same time, the report revealed that Legend Capital, the venture and growth capital investment division of parent Legend Holdings, raised RMB3.3 billion (US$495 million) […]
Seeking to capitalize on a proposed government regulation requiring online lending businesses to use electronic signatures, venture capitalists have poured …