In this episode of China Money Podcast, guest Jixun Foo, managing partner at GGV Capital, spoke with our host Nina Xiang, on GGV's new funds, China's travel and education sector, and why Chinese companies have a better record of avoiding "down rounds." Don't forget to subscribe to China Money Podcast for free in the iTunes […]
Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in China. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.
China’s sovereign-wealth fund China Investment Corporation (CIC) has teamed up with a French public sector financial institution to jointly tap overseas investment opportunities, with a focus on real estate and infrastructure, according to an announcement. CIC Capital, the direct investment arm of the US$810 billion-under-management state wealth manager, signed an agreement with Caisse des Dépôts […]
Hong Kong-listed investment holding company Man Wah Holdings Ltd., which was among a number of Chinese companies reportedly injecting US$600 million to LeEco, has issued a statement denying its involvement. "We did not and currently have no plans to make such investments," the statement declared. "LeEco appears to be a company engaged in the online […]
Guangdong Transtek Medical Electronics Co., Ltd., a wearable devices maker and mobile healthcare firm backed by Banyan Capital, has completed an in initial public offering on the Shenzhen Stock Exchange. Founded in 2002, Transtek's main income comes from manufacturing wearable devices for international clients including Leifheit, Taylor, Homedics and Withings as an original design manufacturer […]
Hony Capital really loves the food and restaurant business. Hong Kong-listed Lee & Man Handbags Holding Ltd., owned by the Chinese buyout shop, has invested RMB25 million (US$3.6 million) in Xiao Mian, a Chinese noodle restaurant chain founded two years ago. Lee & Man, which Hony acquired control this year via multiple transactions, will serve […]
Hony Capital is now the second biggest private equity firm in China and the 41st largest globally, after it invested over US$1 billion in the past two years, Hony's chairman and CEO John Zhao boasted during the company's annual forum. The private equity arm of Legend Holdings Corporation has reached a record in both fundraising […]
The operator of Chinese e-commerce firm Qufenqi, backed by Ant Financial, is planning a U.S. IPO to raise between US$500 million to US$800 million during the first half of 2017, according to media reports. Qufenqi, under Beijing Happy Times Technology Development Co., is currently working with investment banks on the potential stock market debut. The […]
Chinese online education firm Mofangge has raised RMB149 million (US$22 million) in series B and B+ round from unnamed individual investors, according to Chinese media reports. Founded in 2013, Mofangge previously raised tens of millions of U.S. dollars from Fosun Kinzon Capital in 2014. Like many Chinese start-ups, Mofangge is planning to dismantle its VIE […]
Ant Financial Services Group and Ucar Inc. have invested US$100 million in Souche.com, a Hangzhou-based used car dealership transaction services provider, as the company's series C financing round. Ant Financial will help Souche.com launch credit-based car loans, utilizing Ant Financial's personal credit rating and financial services. The service will be rolled out to all of […]
China is planning to launch a national clearance system for third-party online payment service providers, in an effort to standardize and control risks in the flourishing Internet payment and financial services sector, according to Chinese media reports citing insiders. The People's Bank of China is taking a leading role in establishing the system, and will […]
Tencent Holdings Ltd. has established a strategic partnership with Qualcomm Incorporated to create virtual and augmented reality-based immersive mobile user experiences in gaming and entertainment, with the launch of a joint innovation center. The partnership is between Qualcomm's subsidiary, Qualcomm Wireless Communication Technologies (China) Ltd., and the Interactive Entertainment Group (IEG) of Tencent. "As virtual […]