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China's Largest Car Rental Firm Says Ready For Price War With Didi

China's Largest Car Rental Firm Says Ready For Price War With Didi

By Nina Xiang | 24 August 2016 — 15:13 HKT

CAR Inc., China's largest car rental firm, says it is ready for price war with Didi Chuxing, after the Beijing-based ride share giant announced plans to launch its own online car rental business on Monday.

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Suning Makes Strategic Investment In Campus E-Commerce Firm 8Day Online

Suning Makes Strategic Investment In Campus E-Commerce Firm 8Day Online

By Jillian Yue | 24 August 2016 — 14:11 HKT

Suning Commerce Group has made a strategic investment in 8Day Online, a campus e-commerce start-up backed by Shunwei Capital and Fosun Kinzon Capital.

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China's Private Health Insurance Market To Expand Five-Fold To $167B In 2020

China's Private Health Insurance Market To Expand Five-Fold To $167B In 2020

By Li Dongmei | 24 August 2016 — 12:18 HKT

China's private health insurance market will surge five-fold to RMB1.1 trillion (US$167 billion) by 2020, from RMB241 billion (US$36.7 billion) in 2015, as middle-class and wealthy Chinese look for an alternative to the public insurance system, says a new report released by the Boston Consulting Group.

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Investors Pour $1.1B Into Chinese Digital Health Start-Ups During First Half

Investors Pour $1.1B Into Chinese Digital Health Start-Ups During First Half

By Jillian Yue | 24 August 2016 — 12:01 HKT

Chinese investors poured a record US$1.1 billion across 21 deals into digital health start-ups, including those in the mobile fitness, patient-doctor communication and online drug store sectors, according to data from CB Insights.

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Cloud Testing Firm Testin Completes $30M Series C Round

Cloud Testing Firm Testin Completes $30M Series C Round

By Li Dongmei | 24 August 2016 — 10:39 HKT

Testin, a Beijing-based start-up that provides one-stop cloud testing services to mobile app and games developers, has completed a US$30 million series C funding round led by an undisclosed investor, according to Chinese media reports.

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Kobe Bryant's Venture Fund Invests In Yunfeng, Sequoia-Backed Vipkid

Kobe Bryant's Venture Fund Invests In Yunfeng, Sequoia-Backed Vipkid

By Jillian Yue | 24 August 2016 — 09:31 HKT

Bryant Stibel, a venture capital firm founded by retired NBA star Bryant Stibel and American entrepreneur Jeff Stibel, has invested in Vipkid, an online education firm that just raised US$100 million from Yunfeng Capital, Sequoia Capital and other investors.

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China Central Huijin To Name Insurance Executive Bai Tao As General Manager

China Central Huijin To Name Insurance Executive Bai Tao As General Manager

By Jillian Yue | 23 August 2016 — 17:38 HKT

China Central Huijin Investment Ltd. is to appoint Bai Tao, a vice president at China Life Insurance Co., Ltd., as its general manager, Caixin Media reported citing people familiar with the matter.

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Suning Makes Strategic Investment In IDG, Qiming-Backed VR Camera Maker

Suning Makes Strategic Investment In IDG, Qiming-Backed VR Camera Maker

By Li Dongmei | 23 August 2016 — 16:48 HKT

A unit of Suning Commerce Group has made an undisclosed strategic investment in Shenzhen-based virtual reality camera maker, Insta360, with an eye to help sell the company's products via its online and offline channels.

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LeEco, Zhejiang Government To Invest $3B In Car Manufacturing Plant And Tourism Park

LeEco, Zhejiang Government To Invest $3B In Car Manufacturing Plant And Tourism Park

By Nina Xiang | 23 August 2016 — 15:16 HKT

LeEco's smart car business has taken a solid step forward, as the company and the Zhejiang provincial government jointly announced plans to build a car plant and an automobile tourism destination with an expected RMB20 billion (US$3 billion) total investment.

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Warburg, Legend Holdings-Backed Ucar Record $356M In Losses During First Half

Warburg, Legend Holdings-Backed Ucar Record $356M In Losses During First Half

By Nina Xiang | 23 August 2016 — 13:39 HKT

Ucar Group, a mobile app-based chauffeured car service unit launched by Chinese rental car firm Car Inc., saw losses increase 74%, or RMB1 billion (US$150 million), during the first half to RMB2.37 billion (US$356 million), according to a newly released half-year report (in Chinese).

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GIC, Temasek-Backed Cainiao Suffers From Expanding Losses

GIC, Temasek-Backed Cainiao Suffers From Expanding Losses

By Jillian Yue | 23 August 2016 — 10:58 HKT

Cainiao Network, Alibaba Group Holding Ltd.'s logistics affiliate with backings from Singapore's GIC and Temasek Holdings, has seen losses expand nearly four times during the second quarter, Alibaba's quarterly results showed.

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TPG Names Sanghoon Lee To Lead South Korean Investments

TPG Names Sanghoon Lee To Lead South Korean Investments

By Li Dongmei | 23 August 2016 — 10:20 HKT

TPG has named Sanghoon Lee as a partner at the global private equity giant, responsible for leading TPG Capital Asia’s investment activities in South Korea, the firm announced today.

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BAI Leads Series A Round In Movie Content Firm Dushe

BAI Leads Series A Round In Movie Content Firm Dushe

By Li Dongmei | 23 August 2016 — 09:53 HKT

Bertelsmann Asia Investments (BAI) has led a series A funding round in Chinese movie commentary and content platform Dushe, with participation from existing investors Neowing Venture Capital and Yonghua Capital, according to Chinese media reports.

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Platinum Equity Agrees Acquisition Of Two Chinese Industrial Firms

Platinum Equity Agrees Acquisition Of Two Chinese Industrial Firms

By Jillian Yue | 23 August 2016 — 09:41 HKT

Los Angeles-based private equity firm Platinum Equity, LLC has agreed to acquire two Chinese businesses from Singapore's investment holding firm, Broadway Industrial Group Ltd., according to a company announcement.

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Lilly Asia Ventures Leads $20M Series A Round In Genetic Testing Firm Singlera

Lilly Asia Ventures Leads $20M Series A Round In Genetic Testing Firm Singlera

By Jillian Yue | 23 August 2016 — 09:30 HKT

Lilly Asia Ventures has led a US$20 million series A financing round in Singlera Genomics, a non-invasive genetic testing company based in La Jolla and Shanghai, according to an announcement.

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Didi Chuxing Launches Car Rental Unit That Offers Free To-Door Delivery

Didi Chuxing Launches Car Rental Unit That Offers Free To-Door Delivery

By Jillian Yue | 22 August 2016 — 17:41 HKT

Didi Chuxing, China's largest ride share company, says it has launched its own online car rental business through an asset-light model in cooperation with existing leasing companies, says a company announcement.

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In Shanghai, A Bike-Sharing Start-Up Discovers Users Don't Want To Share

In Shanghai, A Bike-Sharing Start-Up Discovers Users Don't Want To Share

By Nina Xiang | 22 August 2016 — 15:07 HKT

Mobike, a Shanghai bike sharing start-up founded by a former Uber manager in the Chinese city, is discovering that some Chinese users like to ride the bike but don't want to share with others.

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Panda Capital Leads $10M Series B Round In Mobike

Panda Capital Leads $10M Series B Round In Mobike

By Li Dongmei | 22 August 2016 — 14:35 HKT

Panda Capital has led a US$10 million series B round in Mobike, a Shanghai-based mobile app that allows users to rent bikes for short distance commute, according to Chinese media reports. Joy Capital also participated in the round.

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