People: Former UBS exec moves to Citi China; JD Finance hires ex-Amazon scientist

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Jiang will be based in HK and report to Head of the Citi’s Asia securities business Mark Slaughter

China Digest: PPDai taps US market for IPO; Momenta raises Series B2

Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc are lead underwriters for the IPO.


China: HNA Group plans $7.6b investment in tourism, digital transformation

China’s HNA Group Co Ltd plans to invest 50 billion yuan ($7.6 billion) in tourism and digital transformation.


Victoria’s Secret owner to invest in garment supplier Crystal’s $574m HK IPO

The Hong Kong-based company is offering 509.3 million shares at HK$7.30 to HK$8.80 apiece.


Hong Kong IPOs head for worst year since 2012 as megadeals slip

State-owned China Tower Corp. was slated to be one of this year’s biggest deals, with a fundraising goal of as much as $10 billion.


China’s shoppers turn Jack Ma’s Ant Financial into a debt giant

Amid surging demand from cash-strapped Chinese millennials, companies such as Ant Financial have been extending more consumer loans.


Ex-Googler, who sold home to build podcast app, raises $13m

CastBox.FM has completed a $12.8 million funding round backed by the likes of IDG Capital and GSR Ventures.


Chinese state-owned firms offer to buy 5% of Saudi Aramco directly

PetroChina and Sinopec have written to Saudi Aramco in recent weeks to express an interest in a direct deal.


People: Ex-Headland exec joins CRE Alliance; HSBC gets Thai global markets head

CRE invests between $30m to $150m both in domestic companies and foreign brands


China Digest: Hillhouse leads $45m round in Lefit; 123GO raises $5.3m pre-series A

Hillhouse Capital has led a $45 million Series C round in fitness startup Lefit with participation from IDG Capital and Huasheng Capital.