Baidu co-leads $150m round of Bain-owned Chinese auto financing firm Lionbridge


Riverhead Capital Investment, the investment arm of Sunshine Insurance Group, also co-led the round.

Didi Chuxing bags $500m funding from parent

Customers on Booking Holdings’ websites, including and Agoda, will be able to hail Didi cars through existing apps as part of the agreement.

BMW gets right for up to $427m equity investment in Chinese battery giant CATL

At CATL’s current stock price, the right would give BMW a stake of less than 2 percent of the company.

Cathay Capital hits first close of second China-Europe midcap fund at $704m

The second fund, Cathay Midcap II, is targeting to raise a total of 1.2 billion euros ($1.4 billion) by the first half of 2019.

Xpeng, Tesla’s Chinese rival, to raise $600m at $4b valuation from Alibaba, others

By late November, Xpeng plans to start delivering some of the 4,000 pre-ordered G3 cars.

China Digest: Sinovation backs $30m Series B in 7Net; Wuxi invests in Verge Genomics

Sinovation Ventures has backed an RMB 200 million ($30 million) Series B funding round for 7Net, a Chinese online exam grading service provider.

Alibaba-backed ASR Microelectronic secures $100m in IDG Capital-led Series B

The latest round brings ASR’s total funding to over $300 million and comes a year after it secured $100 million in a round backed by Alibaba Group.

Ride-hailing giant Didi to spin off car services unit in up to $1.5b deal

Didi is hoping to raise between $1 billion and $1.5 billion from the deal and has tapped investors including SoftBank Group.

China’s Shunwei Capital targets $1.2b for two new funds

The two new vehicles plan to raise $600 million each and are likely to be part of Shunwei Capital’s fourth US dollar fund.

Chinese e-commerce site Pinduoduo targets up to $1.63b in US IPO

If successful, this will be one of the biggest U.S. floats by Chinese firms in four years.