Chinese financial information provider Jiemian-Cailian Press raises $72m

Person reading a newspaper. Source: Roman Kraft/Unsplash

Jiemian-Cailian Press, a financial information service provider owned by Chinese state-owned media group Shanghai United Media Group, announced on Monday that it has secured over 500 million yuan ($72 million) in a Series C round of financing.

The Series C round was backed by strategic investors including Chinese state-owned financial conglomerate Xu Hui Guo Tou, and China Internet Investment Fund (CIIF), a hundred-billion-yuan fund jointly launched by China’s Ministry of Finance and the Cyberspace Administration of China (CAC), the central Internet regulator in China.

Jiemian-Cailian Press was created at the end of 2017 through a stock-for-stock merger between Jiemian and Cailian Press.

Jiemian, an online media outlet launched by Shanghai United Media Group in 2014, and Cailian Press, founded in 2015 by media firm Lanjinger.com and China’s Securities Times as a newswire service for A-share investors, sought to build “China’s Bloomberg” through the merger, said Qiu Xin, president of Shanghai United Media Group, in a statement at that time. The statement claimed that the merged venture was valued at over 5 billion yuan ($717 million).

Shanghai-based Jiemian-Cailian Press covers hundreds of pieces of financial news on a daily basis, tracking the development in global major capital markets, listed companies and financial institutions. Its readers and clients include government departments, investment institutions, publicly traded companies, and individual investors.

The company said that it leverages financial big data, machine learning, user labels and intelligent distribution technology to provide news, financial information, big data and transaction services through so-called “to-customer (to-C)” platforms including Jiemian, Cailian Press, and chinastarmarket.cn, as well as “to-business (to-B)” data systems and applications.

It has more than 500 reporters and editors located in cities like Shanghai, Beijing, Guangzhou, Shenzhen, Hong Kong, New York and London.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.