Uber receives nearly $2b investment from Chinese firms


Uber’s main global entity received the rest of the money, though the company did not specify how much each unit got.

China’s gaming billionaire picks 60% stake in US gay dating app Grindr for $93m

One of China’s newly minted technology billionaires signed a deal to buy a controlling stake in Grindr, the world’s biggest gay social-networking app. Beijing Kunlun Tech Co., an Internet games company that helped introduce Angry Birds to China, offered $93 million in cash for 60 percent of New Grindr LLC,… Read more »

Wanda in Hollywood: China’s richest man buys film studio Legendary for $3.5b

Chinese conglomerate Dalian Wanda Group has bought U.S. film studio Legendary Entertainment for about $3.5 billion, turning its chairman into a Hollywood movie mogul as China’s richest man steps up a drive to diversify his business empire overseas. At a news conference in Beijing on Tuesday, Wanda Chairman Wang Jianlin… Read more »

6 more foreign institutions, including India’s RBI allowed in China’s interbank FX market

China has allowed a second batch of foreign institutions to enter China’s interbank foreign exchange market, the country’s central bank said on Tuesday. Six central banks and international financial institutions, including Reserve Bank of India (RBI), Monetary Authority of Singapore and Bank of International Settlements, are now allowed to trade… Read more »

Uber’s China unit attracts investment from HNA Group

Uber Technologies Inc said on Monday its China unit will get an undisclosed amount of investment from Chinese firm HNA Group as part of a new partnership with the aviation and shipping conglomerate, giving the U.S. ride-hailing firm fresh cash as it competes with larger domestic rival Didi Kuaidi. In… Read more »

SIG Asia participates in $57m Series D round in Chinese online travel firm Qyer.com

SIG Asia, a venture capital investment arm of Susquehanna International Group (SIG) has participated in a $57-million Series D round of funding for Qyer.com, a Chinese outbound travel service provider. SIG Asia invests at early, growth capital, and late stage level. It also invests in post-IPO firms. Launched in 2004, Qyer.com provides travel… Read more »

China: Securities regulator plans to ‘manage’ pace of IPOs to help ease pressure on market

The China Securities Regulatory Commission (CSRC) said it will manage the pace of new share listings to ease pressure on the stock market, as Beijing seeks to tamp down rising volatility after markets plunged over 10 percent this week. “We will make rational arrangements regarding IPO approvals in order to… Read more »

Chinese group bids $1.1b for PE-owned German machinery maker KraussMaffei

A Chinese group has made a bid worth roughly 1 billion euros ($1.1 billion) to buy the private equity-owned German plastics processing machinery maker KraussMaffei, people familiar with the matter said. The potential buyer is hoping to clinch a deal with KraussMaffei’s owner, Canada’s Onex Corp, before the Chinese New… Read more »

In its new innings, Swedish automaker Saab is at forefront of China’s green car push

The Swedish automaker once known as Saab has emerged as part of China’s push to make electric vehicles a mass-market alternative to petrol cars, after getting a $12 billion order for EVs. Chinese-owned National Electric Vehicle Sweden (NEVS) – the company that acquired Saab‘s assets, though not its name – said… Read more »

DBS, StanChart among banks facing forex business curbs in China

Standard Chartered has appealed to China’s central bank to shorten a ban imposed in December and running through March. DBS’s ban is shorter than three months. Suspensions on settling offshore clients’ yuan transactions in the onshore market were imposed last month by the People’s Bank of China.