China Digest: Hairongyi.com gets $29m from Ronghai; Xiaoming Bike gets Series B

China Digest: Hairongyi.com gets $29m from Ronghai; Xiaoming Bike gets Series B

A man looks for a shared bike to ride outside an office building, in Beijing, China April 12, 2017. REUTERS/Jason Lee

In a couple of deal developments in China, fintech firm Hairongyi.com has raised $29million Series A from Qingdao Ronghai state owned asset management company while bike sharing startup, Xiaoming Bike, raised a Series B investment from NewMargin Capital.

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