Temasek-backed Chinese travel site Mafengwo seeks to raise up to $300m


The company raised $133 million in December in its series D fundraising round.

China HNA in talks to sell New York building to B&L in likely $452m deal

The transaction with B&L Management Co. values the 21-story building at $452 million and would cause HNA to realize a loss

China’s biotech startup I-Mab said to target up to $500m in IPO

More than 10 biotech companies have applied to begin trading on the Hong Kong stock exchange since the bourse changed its rules in April to allow unprofitable drug developers to join.

China Digest: Minsheng leads Thunder Stone round; CMVI invests $12.7m in UK drug firm Blueberry

Beijing-based Thunder Stone Technology Co is the largest karaoke system supplier in China, accounting for 40 per cent of market share.

China: Online drugstore 111 Inc files for $200m IPO in the US

111 Inc’s filing in the US comes at a time when China’s pharmaceutical players are quickly moving online to further corner a larger share of the market.

Asia Digest: Clobotics raises $11m more in Series A; Huobi invests in OpenFinance Network

Crypto-currency exchange Huobi has made a strategic investment in US-based OpenFinance Network.

Bakery chain vanishes from Chinese food apps following Taiwanese leader’s visit

85 Degrees, which has 628 stores in mainland China, was hit by calls for a boycott on Chinese social media after Taiwan President Tsai Ing-wen was photographed on Sunday visiting one of its Los Angeles stores during her visit to the United States.

Alibaba-backed online parenting firm Babytree eyeing up to $1b HK listing

Babytree is targeting a valuation of $3-5 billion.

Citi names veteran Beibei Li as banking head of China’s Belt and Road Initiative

Global banks including Citi, HSBC and StanChart have been boosting their staff and offerings as the belt and road drive fuels demand.

Hong Kong becomes battle ground for digital payment platforms of Tencent, Alibaba

The city has become an important testing ground for Tencent’s WeChat Pay, and Alibaba’s Alipay, dominant rivals in mainland China