If you pay any attention to China's venture capital and technology world, the phrase "consumer upgrade" has likely jumped out at you a few times. To outsiders, the description may appear awkward. But in china, it is arguably the most important investment theme of the age.
Tmall, Alibaba Group Holding Ltd's business-to-customer e-commerce platform, has invested US$300 million in Yiguo.com, a fresh produce e-commerce platform.
GIC Private Ltd., Singapore's sovereign wealth fund, has led a US$220 million series D round in Dianrong, a Shanghai-based peer-to-peer lending platform.
SK Holdings, the holding company of South Korea’s second-largest conglomerate SK Group, has agreed to acquire a 11.77% stake in e-Shang Redwood (ESR), a pan-Asian logistics warehouse operator, for US$333.3 million.
TVB Venture, a wholly owned subsidiary of Hong Kong-based Television Broadcasts Ltd. (TVB) said today that it has entered into a TV co-financing joint venture with Beverly Hills based film and television production company Imagine Entertainment.
Zhang Peifeng, chairman of ShenZhen Grand Electronics Co., Ltd., a New Third Board-listed consumer electronics maker, has led a RMB500 million (US$80 million) series B round in iqianbang.com, a Beijing-based person-to-business fundraising platform.
Tasley Pharma, a pharmaceutical company backed by Shanghai Stock Exchange-listed Tasley Holding Group, has led a US$20 million series E round in PegBio Co. Ltd., a Chinese innovative drug developer.
Baidu Inc., China's largest search engine, has signed an agreement with the government of Shanxi province to integrate artificial intelligence into city management. The project, designed to create "smart cities" and help the Northern province upgrade its industrial base, is another step in Baidu's campaign to position itself as an artificial intelligence company.
Ucar Group, a ride hauling service unit launched by Chinese rental car company Car Inc., has received RMB2.4 billion (US$350 million) strategic investment from People's Insurance Company of China Holdings Co., bringing the company's total fundraising this year to RMB7 billion (US$1 billion).
China's Dalian Wanda Group, whose chairman Wang Jianlin previously declared ambitions to outsmart U.S. entertainment giant the Walt Disney Co., has given up the fight by selling the company's tourism projects and hotel assets.
China inked a total of 163 outbound deals worth US$43 billion during the first half, down 65% in terms of total deal value compared to the same period last year, as the nation's tightened capital control measures dampened Chinese overseas investment.
Mason Financial Holdings Ltd., a Hong Kong-listed financial services company, has agreed to acquire an 80% stake in Australian baby formula distributor Blend and Pack Pty Ltd. for A$80 million (US$61 million).
Hong Kong-listed China Harmony New Energy Auto Holding Ltd. has completed a spin-off of an after-sales unit, which has reached agreements to received RMB280 million (US$41 million) from a few strategic investors, according to a disclosure filing.
Beijing-based Huodongxing.com, an Eventbrite-like platform where organizers plan, promote and sell tickets to their events online, has raised a series A+ round worth tens of million RMB from Tencent Holdings Ltd., co-working space start-up UrWork and Japanese human resources firm Recruit Holdings Co., Ltd.
Qicheng Venture Capital, an investment fund backed by Chinese e-commerce giant JD.com Inc. has made a strategic investment in brick-and-mortar fresh produce chain store operator Qiandama.
Chinese conglomerate Gome Holdings Group has led a RMB216 million (US$31 million) series C round in iKongjian, a home renovation online-to-offline (O2O) start-up.
Artificial intelligence (AI) could accelerate China’s economic growth rate from 6.3% to 7.9% before 2035, by transforming the nature of work and opening new sources of value and growth, says Accenture in a new report.
Zhang Lei, founder and CEO at Hillhouse Capital, has donated RMB300 million (US$43 million) to his alma mater Renmin University of China to establish an education fund.
Nervous investors dumped shares and bonds of Dalian Wanda Group Co. today, as reports of elevated regulatory scrutiny regarding the company's overseas borrowings caused widespread panic. Shares of Fosun International, named as one of a number of companies whose overseas debt is being investigated by regulators, also tumbled, along with its pharmaceutical unit.
Juewei Food Co., a Chinese food retailer best known for its marinated duck necks and chicken feet, said it has agreed to establish a joint venture industry fund with food delivery app Ele.me to invest in companies operating in the catering industry.
Wang Wei, chairman and founder of Chinese express delivery firm SF Express, yesterday shared his thoughts on possible missed business opportunities resulting from his insistence on being one of the most private billionaires in China.
Bigger, a start-up incubator and co-working space company backed by Chinese real estate developer Modern Land China Co., Ltd., has completed a US$18 million series A financing round led by an investment unit of property developer Hongfu Group.
Wanda Cinema Line Corp., the film division of Chinese conglomerate Dalian Wanda Group, has teamed up with Tencent Holdings' gaming, film and online reading units to co-develop, bundle and cross-promote intellectual property (IP), the firms announced overnight.
Maoyan, China's largest mobile ticketing platform, which is controlled by Beijing-based television and film company Enlight Media, expects to turn a profit this year and has plans to pursue an initial public offering, Enlight Media's founder and chairman Wang Changtian said over the weekend.
UC Express, a Shanghai-based logistics company, has teamed up with global logistics facilities operator Global Logistic Properties Ltd. and a unit of Bank Of China to establish a logistics fund in Xi'an, Shaanxi province to help develop the region into a logistics hub.
Jiangsu Suning Bank Co., Ltd., a private online bank backed by Suning Commerce Group Co., Ltd., officially launched Friday, as the Chinese retailer continues its diversification into financial services.
Element AI, a Canadian artificial intelligence company backed by China's Tencent Holdings Ltd., has raised US$102 million in new funding from a number of Canadian and Asian funds and investors.
High-flying Chinese insurance firm Anbang Insurance Group has announced that Wu Xiaohui (pictured), its chairman and general manager, can no longer fulfill his duties for personal reasons, following numerous Chinese media reports that the executive has been detained by authorities as part of a legal investigation.
Chinese investment banking group China International Capital Co., Ltd. (CICC) has led a RMB500 million (US$73 million) series B round in XG Entertainment, a Shanghai-based TV and online drama production house.
Chinese smartphone maker OPPO Electronics Corp. and investment firm Huiyou Capital have led a RMB150 million (US$22 million) funding round in Ponycar, a Shenzhen-based electric vehicle sharing start-up, with participation from Shenzhen-based investment bank China Peakedness.
Ucar Group, a mobile app-based chauffeured car service launched by Chinese car rental company CAR Inc., has led a RMB2.2 billion (US$320 million) series B round in Xiaopeng Motors, a Guangzhou-based electric vehicle maker.