Alibaba’s financial services unit Ant Financial has invested RMB2.06 billion (US$321 million) in bike sharing firm Hellobike, valuing the latter at US$1.47 billion and giving birth to a new unicorn company in China, according to Shanghai-listed Yonou Bike’s security filing.
In a potentially controversial move to fight intellectual property theft from China, the Trump administration plans to shorten the length of validity for some visas issued to Chinese citizens, the U.S. State Department said Tuesday, according to U.S. media.
Alibaba Group’s financial affiliate Ant Financial has led a D round of more than US$200 million in Shenzhen-based motion sensing firm Orbbec.
Jack Ma, the billionaire founder of Chinese tech giant Alibaba Group Holding Ltd., said that Bitcoin is a bubble, while blockchain is not.
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.
Alibaba Group is continuing its acquisition spree in South Asia with news that it has acquired one of the region’s largest e-commerce platform, Daraz Group.
Chinese conglomerate HNA Group and U.S. alternative investment firm SkyBridge Capital, founded by former White House Communication Director Anthony Scaramucci, have agreed to terminate HNA’s plan to acquire the fund.
Chinese internet giant Baidu Inc. has sold a majority stake in its Financial Services Group (Baidu FSG) for US$1.9 billion to an investor group led by TPG and The Carlyle Group, with participation from Taikang Group, ABC International Holdings and others.
China’s search engine giant Baidu Inc. has announced plans to set up a new fund worth of US$500 million in its first phrase to invest in Internet and artificial intelligence start-ups.
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.
JD.com Inc., China’s second-biggest e-commerce company, will invest RMB537 million (US$85 million) in Allianz China General Insurance, taking a 33% stake and becoming its second largest shareholder, according to the announcement published by the Insurance Association of China.
Chinese bike sharing firm Hellobike has raised a new financing round of US$700 million from existing investors including Ant Financial and Fosun Group, as well as seven new investors, according to Chinese local media.
Suzhou-based travel B2B platform Ba Zhua Yu Online, or Octopus, has raised a RMB600 million (US$95 million) series C round from Tempus Group, a conglomerate focusing on travel and personal financial services, Ant Financial and CCB International, an investment services firm owned by China Construction Bank Corporation.
Alibaba’s third-party mobile payment platform Alipay has been fined RMB180,000 (US$28,535) for inadequate customer rights protection, publishing misleading advertising and improper data protection, according to an administrative penalty notice from People’s Bank of China, Hangzhou branch.
China has announced tariffs of up to 25% on 128 U.S. imports worth US$3 billion, in retaliation to U.S. duties on steel and aluminium, further escalating the ongoing Sino-U.S. trade war.
Alibaba’s mapping unit, AutoNavi Holdings Ltd. also known as Gaode Map, has launched its own carpooling business, starting in Chengdu and Wuhan initially with plans to roll out nationally.
Alibaba’s financial affiliate Ant Financial Services Group has reached a strategic partnership with Norwegian telecommunications company Telenor Group to invest US$184.5 million for a 45% stake in Telenor Microfinance Bank (TMB), a microfinance bank in Pakistan and a subsidiary of Telenor Group.
China’s bike-sharing firm ofo announced that it has raised US$866 million in equity and debt capital in a funding round led by Alibaba Group Holding Ltd. The deal increases Alibaba’s control over the company and further distances ofo from its major shareholder Didi Chuxing.
The Hong Kong Securities and Futures Commission (SFC) has banned Zurich-based UBS Group AG from sponsoring initial public offerings (IPOs) on the Hong Kong Stock Exchange for 18 months. The ban comes just as the Hong Kong exchange is preparing for a surge of IPOs, especially by tech companies.
Chinese video streaming app Inke is reportedly seeking an initial public offering in Hong Kong after a failed attempt last year to complete a back-door A-share listing in China.
In a sign of financial distress derived from shareholder disagreements, bike sharing company Ofo has mortgaged its own bicycles in order to receive two loans worth RMB1.77 billion (US$280 million) from Alibaba’s affiliates, according to data from the National Enterprise Credit Information Publicity System.
CNHTC, the parent company of Chinese heavy-duty commercial vehicle manufacturer Sinotruk (Hong Kong) Limited, and UQM Technologies, a Colorado-based developer and manufacturer of electric motors, have withdrawn their application for investment approval to the Committee on Foreign Investment in the United States (CFIUS), the companies said.
Chinese internet giant Tencent Holdings is making another major investment in the Indian online entertainment sector, with a US$115 million stake in music streaming app Gaana.
Chinese tech giant Alibaba Group is reported to have inked a deal to buy food delivery service Ele.me in what is seen as a major step towards reinforcing its position in the on-demand local services market in a deal worth around US$9.5 billion.
American semiconductor and electronics manufacturer Xcerra Corporation and China’s Hubei Xinyan Equity Investment Partnership have cancelled their proposed merger after failing to receive approval from the Committee on Foreign Investment in the United States (CFIUS), the companies announced today.
China’s largest e-commerce company Alibaba Group is in talks to buy a minority stake Dailyhunt, an Indian news aggregator and e-bookstore backed by Chinese personal news recommendation app Toutiao, according to Indian media.
The U.S. Securities and Exchange Commission ("SEC") decision to block a Chinese-led investor group from buying the Chicago Stock Exchange ends a two-year campaign to turn the small , 136-year old exchange into a venue for international IPOs. It also marks the latest in a string of blocked deals involving Chinese companies trying to buy major U.S. assets.
Alibaba’s Ant Financial is working with China Construction Bank and online real estate agency Lianjia to launch a blockchain-based apartment rental platform in China’s Xiongan New Area.
A unit of Ant Financial Services Group has agreed to invest RMB200 million (US$31.5 million) in a Chinese smart parking company to jointly expand and accelerate the deployment of smart parking operations throughout China.
Chinese tech giant Tencent Holdings Ltd has opened up its artificial intelligence images platform to the public, essentially offering basic image and facial recognition capabilities for free. The move raises the question if start-ups focused on providing facial recognition services would still be commercially viable.
China’s tech giant Baidu Inc. is seeking a new funding round of up to US$2 billion for its wholly-owned finance unit to push into the financial services sector and compete with Alibaba Group Holding Ltd and Tencent Holdings Ltd, according to media reports citing insiders.