Everbright-IDG Industrial Fund Injects $297M In China UnionPay Merchant Services

Everbright-IDG Industrial Fund, a joint venture investment vehicle established by China Everbright Ltd. and IDG Capital Partners, has invested RMB2 billion (US$297 million) in China UnionPay Merchant Services Co., Ltd., an acquirer handling payment services for China UnionPay-labeled cards.

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Nina Xiang
Nina Xiang is the co-founder and managing editor overseeing editorial content and product development at CMN. Before founding CMN in 2011, Nina worked at BusinessWeek magazine in Beijing and Institutional Investor magazine in New York, writing about business and financial services. While in New York, she also served as part-time correspondent for Shanghai's financial television channel, China Business Network, as well as China Radio International, China's national English-language radio network.