China Digest: Mogu trims US IPO target; Tongcheng-Elong gains 26% in HK debut

Visual from Mogu's IPO document.

Online fashion and cosmetics startup Mogu Inc and online Chinese travel firm Tongcheng-Elong, both backed by Internet giant Tencent, have recently made news, with Mogu cutting its US IPO target and Tongcheng-Elong gaining double-digit on its Hong Kong debut.

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