Chinese companies only completed US$1.8 billion of acquisitions and greenfield investments in the United States in the first five months this year, representing a 92% drop from the same period in 2017, and the lowest half-year figure in seven years, according to New York-based research firm Rhodium Group.
In the next six months, the valuation of Chinese start-ups may drop on average 30%, or even 50% for some previously highly valued companies, because of a tightening of capital supply, said Ran Wang, chief executive officer of Chinese investment advisory firm CEC Capital Group.
News came yesterday that Google would invest US$550 million in cash in China’s second largest retailer JD.com Inc., as part of a strategic partnership. The two partners plan to collaborate on a range of strategic initiatives, including joint development of retail solutions and making some products of JD.com available for sale through Google Shopping channels in multiple regions.
What is the most popular app in China? You’re probably thinking WeChat. Though that might still be true, WeChat now has a serious challenger whose meteoric rise has taken China by storm (and WeChat’s owner Tencent by surprise). That is Douyin (抖音, literally “shaking sound” in Chinese), one of the most popular short video apps in China, as well as worldwide. It is owned by ByteDance (a.k.a Toutiao), an AI-driven media company in China and one of the world’s most …
China’s tech giants are waging a price war over smart speakers. But that’s ok with Chang Le, co-founder of Beijing-based start-up SoundAI, who sees it as a sign of market strength. Baidu just released its lower-end smart speaker Xiaodu at a special discount price of RMB89 (US$13.9), the same as Alibaba’s smart speaker Tianmao Jingling (Tmall Genie), and little more than JD.com’s Dingdong, which is selling at a discounted RMB79 (US$12). Chang says the price war is completely understandable because every …
The government of Guizhou Province, China, has announced plans to establish a RMB3 billion (US$470 million) industrial fund to boost big data development.
Conrad Tsang, founder and chairman of Hong Kong-based investment firm Strategic Year Holdings Ltd., sat down earlier this week with China Money Network on the sidelines of the China Private Equity Summit 2018, organized by the Hong Kong Venture Capital and Private Equity Association (HKVCA). Tsang founded his own firm in 2015 after spending 13 years at Baring Private Equity Asia, last serving as managing director at the global private equity firm. During the early years of his career, he …
China has launched a RMB100 billion (US$15.57 billion) fund to support economic integration and development in the Yangtze River Delta Economic Zone, according to Xinhua News Agency, China’s official state-run press agency.
China plans to have a space station in orbit by 2020，and is now inviting other countries to conduct experiments on the facility.
Shanghai-based Volcanics Venture has raised US$72.8 million of its proposed US$100 million fund from 14 investors, according to its security filing with the U.S. Securities and Exchange Commission.
Sinovation Ventures, a Chinese venture capital firm founded by former Google China head Kai-Fu Lee, has announced the establishment of a RMB2.5 billion (US$391 million) artificial intelligence fund in Guangzhou.
Pivotal bioVenture Partners China (Pivotal China), a member of Nan Fung Life Sciences announced the closing of Pivotal bioVenture Partners China USD Fund I, raising US$150 million to incubate and build life sciences companies in China.
Chinese investment firm ZZ Capital International (8295.HK) said it would terminate a deal to acquire U.S. energy index provider Alerian MLP Index. Aretex Capital Partners, a private investment fund launched this year by two executives at ZZ Capital International, will be acquiring Alerian for an undisclosed price, ZZ Capital said in a statement today.
China launched a relay satellite on Monday to set up a communication link between Earth and the planned Chang’e-4 lunar probe that will explore the far side of Moon, according to Chinese state media Xinhua News Agency.
OneSpace Technology, China’s first private rocket producer, has successfully launched its first single-stage OS-X solid rocket earlier today, according to state media reports, marking an important step for China’s nascent commercial launch industry.
U.S. microphone maker Vesper has completed a US$ 23 million series B round of financing led by American Family Ventures, with Chinese tech giant Baidu also participating.
BMW China Services Ltd. has received two self-driving road test licenses from Shanghai regulators, making it the first foreign automaker to gain such permits, according to the official website of Shanghai Municipal People’s Government.
China’s Tianqi Lithium Corporation is reportedly nearing a deal to buy a 24% stake in Chile’s Sociedad Quimica Y Minera (SQM) at US$4.3 billion, one of the world’s largest lithium producers. Lithium is a critical element in the production of rechargeable batteries, including for cars.
American manufacturer of microcontrollers, memory and analog semiconductors Microchip Technology Incorporated has gained antitrust clearance from China’s Ministry of Commerce and other regulators to acquire Microsemi Corporation, according to Microchip’s announcement.
JPMorgan Chase & Co. has announced that it will assume a majority stake of its Chinese mutual-fund management joint venture by raising its holding to 51% from 49% currently after Beijing recently relaxed its rules for foreign ownership of financial firms.
GIC, Singapore’s sovereign wealth fund, will partner with Nova, a Shanghai-based investment manager co-founded by Warburg Pincus, to establish a RMB4.3 billion (US$675 million ) rental apartment platform in China.
Hong Kong’s proximity to China has long been its stronger selling point. But according to a new Fitch Ratings report, it is having a bad influence on the city’s banking sector.
Tom Zhang, former engineering partner at Google Ventures, has joined Sinovation Ventures, a Chinese VC firm co-founded by former head of Google China Kai-Fu Lee, as chief data scientist.
In an apparent reversal of U.S. trade policy, President Donald Trump said in a tweet Sunday that he and Chinese President Xi Jinping are in discussions to give Chinese telecom company ZTE Corp "a way to get back into business, fast."
Xiaomi-backed Chunmi Electronics Technology Co., Ltd., a rice cooker and kitchen appliance maker, has completed a series C round of financing led by Guangkong Zhongying Capital. No financial details have not been disclosed.
Xiyun International, a Chinese group meal catering company, has raised US$200 million in a series A round of funding from Ant Financial, CDH Investment and Koubei, a local commerce portal under Alibaba and Ant Financial.
Shenzhen-listed real estate developer Tahoe Group is planning to to establish a RMB20 billion (US$3.1 billion) mergers and acquisition (M&A) fund focused on real estate projects, according to a stock exchange filing.
Chinese dogs and cats may have just become the first casualties in a US-China trade war as leading U.S. imported pet food companies have removed their products from China’s largest e-commerce platform Taobao.
Guo Guangchang, Chinese billionaire and chairman of Fosun Group, is looking to buy a RMB4 billion (US$631 million) stake in Chinese dating service Baihe Network Co., which trades on China’s New Third Board.
Chinese online travel service provider Ctrip.com International (NASDAQ: CTRP) says it wants to bring supersonic air travel to China.
China’s tech giant Baidu Inc. (NASDAQ: BIDU) is planning to spin off a majority equity stake in its financial service business, the company announced today when releasing its first quarter financial results.