China to open e-commerce, logistics, accounting & auditing to foreign investment


China will lift restrictions to investments by foreign firms in a range of service industry sectors, including e-commerce, logistics, accounting and auditing.

German robot maker Kuka CEO welcomes $5b Chinese takeover bid

Kuka is the latest and biggest German industrial technology group to be targeted by Chinese buyers as the world’s second-largest economy makes the transition from a low-cost factory location into a high-tech industrial hub.

China: Qihoo 360’s online pharmacy market place 360 Haoyao raises $15.2m

360 Haoyao, an online pharmacy market place by Qihoo 360 Technology Co Ltd has secured RMB100 million ($15.2 million) in its series A round of funding from SB China Capital (SBCVC), Lilly Asia Ventures and others, according to a report by China Money Network quoting Chinese media.  Launched in October 2015,… Read more »

Alibaba- Ant Financial partner to invest $400m in Didi Chuxing

Alibaba and Ant Financial plan to invest $400 million into ride sharing service Didi Chuxing

Vivo Capital raises $100m for new Sino-healthcare VC fund

Healthcare investor Vivo Capital has raised up to $100 million for its newly-formed Sino-US venture capital fund. Named Vivo Panda Fund I, its latest vehicle will put capital into early-stage investments in medical enterprises related to sectors such as pharmaceuticals, biotechnology, medical devices and diagnostics, the company said in a… Read more »

HK-listed Wanda Commercial’s take-private move facing regulatory hurdles

China’s richest man, Wang Jianlin, is planning to delist the Hong Kong real estate vehicle and then relist it in Shanghai, hoping to benefit from higher valuations seen on the mainland.

Deal Digest: Benlai Life raises $117m; PapayaMobile IPO; HighLight Capital’s $229m Fund II

China’s fresh produce e-commerce Benlai Life has raised $117 million in series C and series C+ financing round, partly joined by Joyoung Co Ltd. Woman-led ad tech startup PapayaMobile goes public on China’s National Equities Exchange and Quotations (NEEQ) today. Healthcare-focussed venture capital and private equity firm Highlight Capital is about to complete raising $229 million for its second vehicle.

China: Tus-Holdings commits $388m in Temasek-backed 21Vianet for 21% equity

Tus-Holdings entered the agreement through its affiliated investment vehicle, which will hold the 21.4 per cent equity interest representing 51 per cent voting rights. The transaction is done at approximately $2.712 per ordinary share.

PE firm Evergreen sells Canada-based Thermal Dynamics for $56m to Chinese firm

Private equity firm Evergreen Pacific Partners announced today that it has sold 100 per cent stakes in Thermal Dynamics International to China’s Zhejiang Yinlun Machinery Co Ltd for $56.65 million. Thermal supplies heat exchangers for the automotive, heavy truck and off-highway industries. It manufactures a full range of water- and… Read more »

Mega rounds into Chinese startups propel Asia fintech funding to record highs of $4.9b in Q1

Two of the largest fintech deals took place in China when raised $1.22 billion and JD Finance secured $1.01 billion in external financing. These two deals alone accounted for almost half of the total fintech funding in the quarter.