US-based bike sharing company LimeBike has raised a US$70 million B+ round, the company announced today. The funds will suppport the company’s expansion beyond its core bike rental business, to include electric bikes and scooters, differentiating it from Chinese bike sharing giants such as Mobike and ofo.
Huawei may be facing a virtual sales ban in the United States, due to alleged security concerns, but that hasn’t stopped the Chinese company from launching tests of its 5G wireless technology just north of the border in Canada. On Wednesday, Huawei unveiled an urban trial of 5G wireless-to-the-home services in Vancouver, in partnership with Canadian carrier Telus. The trial is believed to be the first of its kind in North America. “This trial represents continued progress toward the launch of 5G, …
Citic Capital-controlled Harbin Pharmaceutical Group Holding, known as Hayao, has agreed to invest US$300 million in U.S.-based health and wellness retailer GNC Holdings, becoming the single largest shareholder in NYSE-traded GNC.
Chinese conglomerate Dalian Wanda has agreed to sell a 17% stake in Spanish football club Atlético de Madrid to investment firm Quantum Pacific Group, according to an Atlético de Madrid’s announcement.
Chinese online retailer JD.com, Inc. has announced a US$2.5 billion funding round for its logistics subsidiary, JD Logistics. The funding likely values the company at around US$13.5 billion ahead of an anticipated initial public offering later this year.
Chinese tech giant Baidu Inc. has formally proposed listing its online-video unit iQiyi in the U.S. in an initial public offering likely to value the company at up to US$10 billion.
China’s embattled HNA Group is again selling assets to pay down its debt burden. In a statement to the Hong Kong stock exchange Tuesday, HNA unit Hong Kong International Construction Investment Management Group Co Ltd said it will sell two Hong Kong properties to Henderson Land Development Co Ltd for HK$16 billion (US$2 billion).
Chinese companies issuing bonds can no longer seek debt guarantees from local governments, or tell their investors that their bonds are backed by local governments, according to a new measures announced by China’s top State planning body. A notice detailing new rules for corporate bond issuance issued Monday by the National Development and Reform Commission stated: “It is strictly forbidden for reporting enterprises to require or accept the local government and its subordinate departments in various names to provide guarantee …
Foxconn Industrial Internet Co., a subsidiary of Foxconn Technology Group, is planning an initial public offering on the Shanghai Stock Exchange to fund eight investment projects in China totaling RMB27.3 billion (US$4.3 billion), according to its IPO prospectus.
Singapore-based global logistics company GLP has established a China value-add fund worth RMB10 billion (US$1.6 billion) with an investment from NYSE-listed China Life Insurance Company Ltd.
Cryptocurrency issuer Ripple has got its foot in the door of the Chinese market by signing a partnership agreement with LianLian International, a Hong Kong-based payment services provider. The deal comes despite the Chinese government’s ongoing efforts to shut down cryptocurrency trading and transactions in that nation.
U.S. pharmaceutical giant Pfizer has taken a financial stake and entered into a two-year research collaboration with NetVation DL Medicine, a privately held biotechnology company that is backed by Chinese Academy of Sciences.
China has formally requested the United States for consultations on compensation for tariffs imposed on imported solar panels and washing machines, according to the World Trade Organization filings Tuesday.
Chinese solar products manufacturer LONGi Green Energy Technology Co., Ltd. has announced plans to invest US$309 million to expand its solar cell and module production in India. The move came after Indian regulators are considering a proposal to place a 70% import duty on solar power manufacturers from China.
Chinese conglomerate Dalian Wanda Group has announced to sell a combined 12.77% stake in its listed film business Wanda Film for RMB7.8 billion (US$1.24 billion) to Alibaba and a state-owned investment group, according to its security filing.
Chinese online retail and logistics giant JD.com has outlined plans to expand in Europe over the coming years, setting the stage for a showdown with both Amazon and Chinese online retail rival Alibaba. Speaking with media, Richard Liu, founder and chief executive of JD, said his company will launch its first European e-commerce sales and delivery services in France, then roll out services in the United Kingdom and Germany. Liu estimated the company would spend at least 1 billion euros …
The Chinese government is planning additional steps to crack down on cryptocurrency speculation in that country, according to domestic media reports. A series of new regulatory measures will be taken in the coming weeks against initial coin offerings (ICO) and virtual currency transactions conducted in China and abroad, including the possible banning and disposal of domestic and foreign virtual currency exchange websites and related businesses, according to the Financial Times of the People’s Bank of China (PBOC), and reported on …
Baidu Venture Capital (BV), the early-stage investment unit of Baidu Inc. focused on artificial intelligence investments, has completed the first closing of its second RMB fund, having raised nearly RMB2 billion (US$317 million), according to a WeChat post by the firm. Together with BV’s first RMB fund and a US dollar fund, the firm has total assets under management of around RMB3 billion (US$476 million), the company said. External investors joined the fund for the first time as limited partners, …
On January 30, at China Renaissance Group’s 2018 New Year Media Communication Conference, Bao Fan, founder and CEO of China Renaissance Group, shared his views on the 2017 capital markets, blockchain and market competition. Below is an edited summary of his speech that originally appeared on Touzirenshuo’s Wechat channel. China Money Network is authorized to republish the post. It felt like 2017 went especially fast, in the blink of an eye. Indeed, 2017 was a triumphant year for our industry. …
Chinese conglomerate Dalian Wanda Group is moving to sell its last two overseas property projects in the U.S. as its continuous unwinding its outstanding debts, according to media reports.
China’s HNA Group Co., Ltd., has told creditors that it is facing a liquidity shortage of at least RMB15 billion (US$2.4 billion) as it approaches a deadline to repay debts in the first quarter, according to media reports citing insiders.
Tencent Holdings Ltd. has teamed up with investors including Suning Holdings Group, long-time partner JD.com Inc. and Chinese property developer Sunac China Holdings Group to acquire around 14% of Dalian Wanda Commercial Properties Co. for approximately RMB34 billion (US$5.4 billion), the Chinese social networking and gaming giant said today.
China’s successfully cloning of two long-tailed macaques may raise ethical concerns given the potential for the technology being used one day to clone humans. But for the scientists involved, it marks a milestone in China’s multi-billion dollar effort to rival the U.S. and the European Union in biomedical research. It also makes good business sense.
Wanda Hotel Development Company Ltd., the Hong Kong-listed affiliate of Chinese conglomerate Dalian Wanda said it has entered into an agreement to sell its property projects in Australia Tuesday as the company struggles to pay down its debts.
It’s not often that the U.S. imposes steep tariffs on imports and Chinese companies get to celebrate. But that’s exactly what’s happened when Donald Trump announced a 30% import tariff on solar energy panels today.
The great unwinding has begun. Driven by overstretched balance sheets and a government crackdown on lavish overseas spending, China’s two biggest corporate shoppers, Dalian Wanda Group and HNA Group, are set to go on a selling spree. And early indication are that we are about to see a fire sale. Speaking Monday as his company announced results, Wang Jianlin, CEO of Dalian Wanda said the company he heads “will resort to every financial tool to reduce debt, including the disposal of …
Chinese investment banking firm CEC Capital Group has announced the promotion of John Song, Gang Li and Zack Zhang to partner, as the firm aims to broaden and deepen its coverage to a new class of rising Chinese enterprises.
Chinese conglomerate Dalian Wanda Group has agreed to sell London luxury development project One Nine Elms for 59 million pounds (US$81 million) , amid a wave of asset sales by the conglomerate to reduce debt.
Russia’s largest gold producer Polyus announced that the agreement to sell 10% of its ordinary shares to a consortium led by Fosun International Limited has been terminated.
Shenzhen Capital Group Co., Ltd, Minsheng Life Insurance and Share Capital have led a RMB400 million (US$62 million) series B round in Suzhou Zelgen Biosciences Co., Ltd., a Chinese biopharmaceutical company.
Investment management firm China International Capital Corp. has led a new funding round worth RMB618 million (US$95 million) in Hupu Sports (Shanghai) Media Ltd., an online sports information, retail and entertainment community.