Canada Pension Plan Investment Board (CPPIB) has invested US$162 million to acquire a 40% interest in the Pavilion Dalian shopping mall from the Pavilion Group, the Canadian pension fund manager said today. The property, a shopping center located in Dalian, is CPPIB's first retail mall investment in the coastal city, a major economic hub in […]
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The IPO application of Chinese genomics powerhouse BGI's bid to list on the Chi-Next board of the Shenzhen Stock Exchange has been terminated, as Chinese securities regulator cited incomplete documentation as a reason for inability to proceed with its review. The event adds yet another twist to BGI's pursuit of a stock float, after years […]
China-focused venture firm Qiming Venture Partners has reached final closing of its fourth RMB fund, securing RMB1.5 billion (US$222 million) in total and bringing the firm's aggregate asset-under-management to US$2.7 billion. "We have been a limited partner of Qiming for years, as we think the firm has a professional and rational team with strong operational […]
China's research and development of autonomous driving technology is about two years behind the most advanced peers globally, says Wu Gansha, co-founder of self-driving vehicle start-up Uisee Technology (Beijing) Ltd. and a former director of Intel Labs China. China began research of autonomous driving vehicles 20 years ago. Efforts on commercialization of the technology commenced […]
Chinese food ordering mobile app Ele.me, backed by Alibaba Group Holding Ltd. and other venture investors, has decided to remove food containing dog meat, shark fins and bear paws from its platform, citing food safety and animal protection concerns. The Shanghai-based start-up said that it terminated 294 merchants selling dog meat products and removed 7,733 […]
Lazada, a Southeast Asian e-commerce platform that Alibaba Group Holding Ltd. acquired control for US$1 billion in April, is acquiring Singapore-based online grocery shopping site RedMart for a reported price of between US$30 million to US$40 million. The deal, which is undisclosed and expected to be completed before year-end, will allow Lazada to benefit from […]
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. […]
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 […]
Hong Kong-based private real estate investment firm Gaw Capital Partners and InvestUK have agreed to launch an Education Bond program that would allow Chinese and other international students to invest in the U.K. and gain permanent residence in the country at the same time. The program is expected to raise up to £1 billion (US$1.23 […]
Chinese online media company Phoenix New Media Ltd. has granted a RMB120 million (US$18 million) unsecured loan to Particle Inc. as the news mobile app operator continues to burn capital in order to obtain more users. Phoenix previously granted unsecured term loans in the aggregate amount of US$34.8 million to Particle in January, April and […]
A subsidiary of state-owned China Film Group Corporation and Chinese media organization Pegasus Media Group have agreed to establish a US$100 million U.S.-China film production fund as part of a wider collaboration on a range of film and TV projects. The fund, which also involves Hong Kong-based private fund company Co-High Investment Management, aims to […]
Beijing-based convenience store O2O (online-to-offline) start-up Huimin has raised RMB1.3 billion (US$192 million) in a series B financing round led by China Innovation Investment (Beijing) Ltd., China United SME Guarantee Corporation and Western Securities. Existing investors Morningside Ventures, Zheshang Venture Capital and GP Capital also participated in the round, which was completed in September. Established […]