China: Alibaba to sell stake in Meituan, focus on Koubei for local services


Alibaba Group Holding Ltd  said on Thursday that the group will sell the firm’s stake in Meituan, a company that delivers food and offers deals from local businesses, to focus on its own rival Koubei venture. “We’ve had a very successful financial investment in Meituan but we believe that a… Read more »

China smartphone boom days are over as Apple, Xiaomi face tough times

On Tuesday, Apple reported the slowest-ever increase in iPhone shipments as the Chinese market weakened. That slowdown in the world’s second-largest economy is threatening to hamstring consumption across the country. Xiaomi, China’s most valuable start-up, is under threat, after it missed targets for $1 billion in Internet service revenue and also handsets sales in 2015.

China’s entertainment mogul Li Ruigang has many aces up his sleeve to crack exploding market

Li Ruigang, chief executive officer of China Media Capital, is aiming to raise as much as $1.2 billion in private equity to nearly triple the size of CMC’s entertainment investment funds.

China Merchants Bank to invest $200m in ride-hailing app Didi Kuaidi, now valued at $16.5b

Didi Kuaidi, which is backed by China’s biggest e-commerce firm Alibaba Group Holding and leading social networking company Tencent Holdings, is battling with U.S. start-up Uber Technology Inc’s local arm, a smaller but well-funded rival.

Haier’s GE unit buy signals China’s maturity in clinching global blockbuster M&As

Haier’s swift, bold move bore all the hallmarks of a seasoned, well-prepared M&A player and underscored how Chinese buyers are becoming increasingly confident about their ability to clinch deals within tight time-frames.

UK’s Everledger wins Fintech Finals 2016 in HK; Asian startups bag category awards

UK-based growth-stage startup Everledger emerged as top winner at the Fintech Finals 2016 in Hong Kong on Tuesday beating 23 other startup finalists from around the globe.

Hedge funds betting against China eye ‘Soros moment’

Many players say that whether outflows resume in earnest after the Chinese New Year break in the second week of February should show whether funds are right to expect more dramatic declines. That has prompted comparisons with the victories of George Soros-led funds over European governments in the early 1990s.

China’s state media warns Soros on betting against yuan, HK dollar

In his comments, Soros said he had been betting against the S&P 500, commodity-producing countries and Asian currencies, while buying U.S. government bonds.

China: Qiming Venture Partners closes tech-focussed fifth fund at $650m

Fund V will invest in early to growth-stage investments in the internet and consumer sectors like healthcare, IT and cleantech.

Chinese e-commerge giant Alibaba’s revenue growth seen slowest on record; to intensify fight with

Chinese e-commerce giant Alibaba Group Holding Ltd is expected to post its weakest quarterly revenue growth on record, Thomson Reuters data shows, a slowdown analysts say will heat up the battle with smaller rival Inc in a tougher economy. Alibaba‘s revenue for the quarter ending December is projected to… Read more »