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As Trump Blocks Deal, Chinese Investors Seek Smaller, Earlier Stage Deals Outside US

Chinese investors overseas just can’t seem to get a break. First, the Chinese government strengthened its grip on overseas deals to slow capital outflows. Now, the U.S. government under president Donald Trump appears more protectionist than ever, blocking a growing list of Chinese investments in the U.S. in the name of protecting American business and security interests.

Alibaba Launches $15B Global R&D Program To Rival Amazon in Tech Innovation

In a bid to establish itself as a leading player in global technology innovation, Chinese Internet giant Alibaba Group Holding Ltd., today announced plans to spend up to US$15 billion on research and development, establish seven research labs and recruit 100 top scientist worldwide over a three-year period.

Happigo Buys Chinese Online Video Platform Mango TV For $1.4B

Happigo Home Shopping Co., Ltd., a TV shopping platform listed on ChiNext, a NASDAQ-style board of the Shenzhen Stock Exchange, will acquire 100% ownership of Mango TV, an online video platform of Hunan Satellite TV, for RMB9.5 billion (US$1.4 billion), according to a stock exchange filing by Happigo.

China’s Meituan Dianping Said To Raise $3 Billion From Tencent, IDG Capital

Update: Meituan Dianping Announced A US$4 billion Financing Round on October 19, 2017 Meituan Dianping, one of the largest Chinese on-demand local services providers, is said to be raising around US$3 billion from investors including its long-time backer Tencent Holdings Ltd., IDG Capital and other investors, people with close information of the matter said.

Alibaba Expands Online Gaming Business With Ejoy Acquisition

Alibaba is becoming a serious player in the online gaming sector. The technology giant founded by Jack Ma today announced that it has acquired online gaming company Ejoy and revealed plans to establish for the first time a dedicated gaming unit to expand into the lucrative sector.

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.

Baidu’s Newest Gadget Translates Speech In Near Real-Time

CT Weekly is a newsletter summarizing major recent developments in China’s tech sector published by China Tech Insights, an industry research project established by Tencent Online Media Group. China Money Network is re-publishing the newsletter under an agreement with China Tech Insights. Baidu’s newest gadget translates speech in near real-time Baidu, China’s biggest search engine, has unveiled a translation device on Sept.19. The portable gadget, which weighs as much as a smartphone, was revealed Tuesday at the 16th Machine Translation …

Alibaba’s IKEA-like Super Store Marks Next Step In Offline Retail Expansion

Alibaba has taken another step in its quest to become ubiquitous in the daily life of every Chinese consumer, this time taking a page out of the play book of international retail giant Ikea. Three days ago, Alibaba opened a bright, colorful, all inclusive home furnishing flagship store in Hangzhou that looks and feels very much like an IKEA store, but is fully augmented by Alibaba’s online e-commence technology.

51Job To Buy 60% Stake In Online Recruitment Platform Lagou.com For $120M

Beijing-based online recruitment platform Lagou.com has signed an agreement to raise US$120 million from strategic investor 51job, Inc., a Chinese human resources service provider listed on the NASDAQ. Following the transaction, 51job will hold a 60% shares in Lagou.com, becoming its largest shareholder, according to a statement posted on 51job’s WeChat account and a release issued by 51job.

Google Inks $1.1 Billion Deal Investing In Taiwan’s Smartphone Maker HTC

Alphabet subsidiary Google announced today that it has signed a US$1.1 billion agreement with Taiwanese smartphone maker HTC Corporation, in which certain HTC employees – many of whom are already working with Google to develop Pixel smartphones – will join Google. HTC will receive US$1.1 billion in cash from Google as part of the transaction. Separately, Google will receive a non-exclusive license for HTC intellectual property.

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.

Chinese Bike Rental Firm Youon’s Subsidiary Raises $123M From Ant Financial And Others

Chinese bike rental company Youon Bike said one of its subsidiaries has agreed to raise RMB810 million (US$123 million) from eight investors including a unit of Ant Financial. The proceeds will be used to finance its wholly-owned subsidiary Jiangsu Yonganxing Low Carbon Technology Co. to further expand in the GPS-powered station-less bike sharing operations, according to a security filing.

Online Restaurant Procurement Platform Fenfenzhong Raises US$16.7 Million

Fenfenzhong, a Beijing-based online procurement platform for restaurants, has raised RMB110 million (US$16.7 million) in a series A round from China’s National Small and Medium-size Enterprises Development Fund, a direct investment vehicle of the National SMEs Development Fund. THG Ventures, a venture capital arm of Tsinghua Holdings, also participated in the round, according to local media.

China Shutting Down All Domestic Cryptocurrency Exchanges

Two major Chinese Bitcoin exchanges Huobi.com and Okcoin.cn announced Friday night that they will cease trading by the end of September. The news comes after Internet finance regulators in Beijing ordered all cryptocurrency exchanges in that city to issue notices to cease trading, according to local media.