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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
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.
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.
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.
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.
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.
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.