LATEST UPDATES

China Is To Surpass US In App Store Revenue In 2016

China Is To Surpass US In App Store Revenue In 2016

By Li Dongmei | February 11, 2016

China will surpass the U.S. in terms of total revenue from app stores by the first half of 2016, having surpassed it in downloads in early 2015, says a new report by mobile app tracker App Annie.

Continue Reading

Chinese New Year's Gala Features Venture-Backed Tech Start-Ups

Chinese New Year's Gala Features Venture-Backed Tech Start-Ups

By Jillian Yue | February 11, 2016

Shenzhen-based robot developer Ubtech and drone maker DJI, both backed by venture investors, were featured on the Chinese New Year's gala, highlighting the government's push toward innovation and entrepreneurship.

Continue Reading

Kingsoft Cloud Raises $60M Series C From Parent And Others

Kingsoft Cloud Raises $60M Series C From Parent And Others

By Li Dongmei | February 11, 2016

Kingsoft Cloud Group has raised US$60 million in a series C round of financing from parent company Chinese software firm Kingsoft, IDG Capital Partners and an entity associated with China Asset Management Co., Ltd., according to a disclosure document.

Continue Reading

Global Pension Fund Assets Down To $35.4 Trillion In 2015

Global Pension Fund Assets Down To $35.4 Trillion In 2015

By Jillian Yue | February 11, 2016

Global pension fund assets in 19 major markets weighed in at US$35.4 trillion at year-end 2015, down slightly from US$36 trillion a year earlier, according to a new report by research firm Willis Towers Watson.

Continue Reading

Haisco Pharma Leads $15M Series D In Israeli Start-Up

Haisco Pharma Leads $15M Series D In Israeli Start-Up

By Jillian Yue | February 11, 2016

Shenzhen-listed Chinese pharmaceutical company Haisco Pharmaceutical Group has led a US$15 million series D round of financing in Israeli drug developer Regentis Biomaterials Ltd., says a company announcement.

Continue Reading

An Infographic Of The RMB In The Year Of The Monkey

An Infographic Of The RMB In The Year Of The Monkey

By Staff Writer | February 11, 2016

For many years, the Chinese currency could be used only inside the country. Since China embarked on a course to internationalize the RMB starting in the mid 2000s, the Chinese currency is now increasingly used for international trade, investment and as a reserve currency.

Continue Reading

Horizons Ventures Co-Leads $55M Series A Round In Blockstream

Horizons Ventures Co-Leads $55M Series A Round In Blockstream

By Jillian Yue | February 8, 2016

Blockchain technology start-up Blockstream has raised US$55 million in series A funding led by Horizons Ventures, AXA Strategic Ventures and Digital Garage, the company says in a statement.

Continue Reading

Alibaba Health Suffers Scandal Over Improper Drug Fees

Alibaba Health Suffers Scandal Over Improper Drug Fees

By Nina Xiang | February 5, 2016

Alibaba Health Information Technology Ltd. is accused of charging Chinese drug companies improper fees, in an escalation of a scandal that emerged last week when the healthcare unit of Alibaba Group Holdings was reportedly to lose its exclusive operational rights of a national electronic drug monitoring system.

Continue Reading

Chinese Firms Record Dismal IPO Performance In January

Chinese Firms Record Dismal IPO Performance In January

By Jillian Yue | February 5, 2016

Only nine Chinese companies completed initial public offerings in January, raising a total of RMB3.8 billion, down 73.5% and 72.7% year-on-year respectively, according to data released by data tracker ChinaVenture.

Continue Reading

Number Of Chinese Unicorns Doubles From Last Year

Number Of Chinese Unicorns Doubles From Last Year

By Li Dongmei | February 4, 2016

There are 35 Chinese unicorns, or private companies valued at US$1 billion or above, double from last year's tally, according to the latest unicorn rankings released by Fortune.

Continue Reading

Hillhouse-Backed BeiGene Completes $158M US IPO

Hillhouse-Backed BeiGene Completes $158M US IPO

By Li Dongmei | February 4, 2016

Beijing-based cancer drug developer BeiGene (Beijing) Co., Ltd., backed by Hillhouse Capital and CITIC Private Equity, has completed an initial public offering in the U.S., raising around US$158 million.

Continue Reading

Catalyst CEL Fund Secures $200M For China-Israel Investments

Catalyst CEL Fund Secures $200M For China-Israel Investments

By Li Dongmei | February 4, 2016

Catalyst CEL Fund, a joint venture fund managed by China Everbright Ltd. and Israeli private equity firm Catalyst Private Equity Management Ltd., has raised over US$200 million to make investments in China and Israel, according to a company announcement.

Continue Reading

Apax To Sell Tommy Hilfiger China JV Stake To Parent Company For $172M

Apax To Sell Tommy Hilfiger China JV Stake To Parent Company For $172M

By Li Dongmei | February 4, 2016

European private equity firm Apax Partners and other investors have agreed to sell their stake in Tommy Hilfiger Asia Ltd. to Tommy Hilfiger's parent company, according to a company statement.

Continue Reading

FountainVest To Sell Key Safety Systems To Ningbo Joyson In $920M Deal

FountainVest To Sell Key Safety Systems To Ningbo Joyson In $920M Deal

By Jillian Yue | February 4, 2016

Sterling Heights, Michigan-based Key Safety Systems (KSS), backed by FountainVest Partners, the Canada Pension Plan Investment Board and Crestview Partners, has entered into a definitive agreement to be acquired by Shanghai-listed Ningbo Joyson Electronic Corporation, says a company announcement.

Continue Reading

China Merchants Bank Leads $102M Series C In Boqii.Com

China Merchants Bank Leads $102M Series C In Boqii.Com

By Jillian Yue | February 3, 2016

China Merchants Bank Co., Ltd. has led a US$102 million series C round of financing in Chinese pet e-commerce company Boqii.com, according to Chinese media reports.

Continue Reading

Total Healthcare Investment Deal Value Up 106% In 2015

Total Healthcare Investment Deal Value Up 106% In 2015

By Jillian Yue | February 3, 2016

A total of 221 healthcare deals with RMB15.7 billion transaction value were recorded in 2015, up 106% in terms of aggregate deal value, according to data released by Chinese data tracker IT Juzi.

Continue Reading

Venture-Backed Dadabus Gets $20M Investment From Fujian Newchoice Pipe

Venture-Backed Dadabus Gets $20M Investment From Fujian Newchoice Pipe

By Li Dongmei | February 3, 2016

Dadabus, a Shenzhen-based mobile app developer providing bus booking services, has received RMB128 million (US$20 million) strategic investment from Shenzhen-listed plastic pipe maker, Fujian Newchoice Pipe Technology Co., Ltd., according to a disclosure document (in Chinese).

Continue Reading

Ten Percent Of China's Public Firms Are Zombie Companies

Ten Percent Of China's Public Firms Are Zombie Companies

By Jillian Yue | February 3, 2016

As of the end of 2014, around 10% of China's publicly listed firms are zombie companies, or companies that survives simply because of the support of lenders and the government, according to research by Caixin magazine.

Continue Reading