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IDG Capital Defends Chinese Luxury E-Commerce Firm Secoo As Company Share Price Halves Post-IPO

IDG Capital’s name appeared in a curious press release today. “Secoo: IDG Capital Will Continue to Support Undervalued Secoo After Restrictions Are Lifted,” it reads. Secoo Holding Ltd, a Chinese luxury e-commerce retailer that raised around US$140 million in a NASDAQ IPO last month, has seen its share price nearly halve during the past three weeks after shares began trading on September 22. The company’s ADR closed at US$6.97 apiece on October 12, compared to its IPO price of US$13 …

China’s Venture Capital Market Cools As Deal Volume And New Start-Ups Reach New Lows

Deal activity in China was strong in 2016. AI and sharing economy were the top two buzzwords in capital markets. How has the situation changed in 2017? The tech channel at Tencent News and startup database IT Juzi jointly released a report on the venture capital trend in the first half of 2017. China Tech Insights is authorized exclusively to release the English version of the report, and China Money Network is republishing the report via a partnership with China …

China’s $25 Billion Food Delivery Industry Adds To Environmental Nightmare

It’s Monday morning, and Ms. Li, a sanitation worker at a Shenzhen apartment building is busy emptying leftover food from delivery boxes and collecting the plastic containers. On this day, she finds about 200 pieces, which she’ll sell for just RMB3 to augment her RMB2000 monthly salary. Monday morning offers the best pickings as the garbage can is full of food delivery bags dumped over the weekend.

Tencent To Acquire 5% Of Chinese Investment Bank CICC In Bet On Financial Services

Tencent Holdings Ltd. has agreed to invest HK$2.86 billion (US$367 million) in China International Capital Corp Ltd (CICC) for a 4.95% stake in the company. At the same time, the two parties said they have agreed to establish a strategic partnership in a range of services and products leveraging Tencent’s financial technology and CICC’s wealth management capabilities, according to a joint announcement.

JD.Com, Central Group To Invest $500M For E-Commerce And Fintech JVs In Thailand

JD.com Inc. and its financial technology unit JD Finance have agreed to team up with Thailand’s largest retail conglomerate Central Group to invest an aggregate of up to US$500 million to establish two joint ventures in Thailand covering e-commerce and fintech services, in the Chinese e-commerce giant’s major foray into the Thai market.

Why Has China’s GDP So Outpaced IRR?

It’s the paradox at the core of China investing: why has such a phenomenal economy proved such a disappointing investment destination for so many global institutional investors, PE firms and Fortune 500s.

China May Own More Artificial Intelligence Patents Than US By Year-End

China and the United States are both artificial intelligence superpowers. But China may soon be the clear leader, at least in terms of AI patents filed. The U.S. currently has more, with 35,508 AI patents, versus 34,345 for China. But as Chinese companies and scientists are filing AI patents at a faster pace, the nation is likely to hold more AI patents than the U.S. by year end, according to a report by Sequoia Capital China and Zhen Fund.

Ant Financial’s Agriculture Insurance Joint Venture Gets Regulatory Green Light

An agriculture insurance joint venture between Ant Financial Services Group and China United Insurance Holding Co. has received a green light from China’s insurance regulator, making it the first agriculture technology company co-established by an insurer to achieve regulatory approval from the China Insurance Regulatory Commission (CIRC).

Mobike’s First Day Explains The Power Of Bike Sharing In China

Whenever I see a small company having a startling large impact on the world, I look for an engine. I look for something that is amplifying what a relatively small number of people are doing. For example, the engine that rocketed Facebook (and Wechat) upwards was the economics and psychology of social media (plus viral marketing). The engine that powered Macau to become five times Las Vegas in a few years was the psychology of gambling plus 1.4B Chinese consumers. …

China Sees Outbound M&A Deal Value Drop 43% To $142 Billion

Chines outbound mergers and acquisitions (M&A) deal value declined to US$80.7 billion year-to-date, down 43% from US$141.6 billion during the same period last year, as the Chinese government’s efforts to curb capital outflow continue to pressure China’s outbound deal-making.

Chinese Innovation QR Code Mobile Payment Wants To Conquer The World

China is going cashless, no doubt. Chinese consumers spent a total of US$5.5 trillion via mobile payment platforms last year, or simply put, it was about 50 times more than their American counterparts (around US$112 billion), according to data from Forrester Research and iResearch. The credit of the country’s multi-trillion dollar mobile payment market goes to China’s third-party QR code-scanning mobile payment platforms, led by WeChat Pay and Alipay. Statistics show that from 2013 to 2016, the number of transactions …