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Guangzhou-based travel mobile app Yaochufa says that the company has received several millions of U.S. dollars from Vertex Venture Holdings, according to Chinese media reports. Yaochufa, which means “Want To Go” in Chinese, previously received several millions of RMB seed funding from Innovation Works, a start-up incubator founded by former Google China head, Li Kai-fu.
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Shanghai-based financial service provider DianRong says that the company has received tens of millions U.S. dollars from Northern Light Venture Capital. The specific amount and valuation of the investment were not disclosed. Launched in March 2013, DianRong is a peer-to-peer (P2P) loan and financial services platform for small and medium enterprises in China. DianRong is
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China Banking Regulatory Commission (CBRC) published on its website a document detailing the basic requirements for setting up local asset management companies in China’s provinces and cities. China currently has four state-owned asset management companies at the central government level. Established in the late 1990s, they took over and manages the non-performing loans from the
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Apple says it will finally rollout the iPhone 5s and iPhone 5c with China Mobile on January 17, 2014. Pre-registration from China Mobile’s official website at 10086.cn and customer service hotline 10086 will begin in two days. But Apple says pricing and availability of both the iPhone 5s and iPhone 5c, which will run on
Taiwanese smartphone maker HTC has appointed Chang Chialin, current chief financial officer, as new global head of sales. HTC was once a leading company in the smartphone market; however, the company is now facing a difficult time. During the latest quarter, HTC suffered the first quarterly loss since the establishment of the company. In addition,
Boston-based private equity firm HarbourVest Partners says that it has promoted its head of secondary investments in Asia Tim Flower to managing director, according to a company announcement. Flower joined HarbourVest’s secondary team in London in 2008. For the past three years, he led the firm’s secondary investment efforts in Asia. Flower led HarbourVest’s recent
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Beijing-based car rental service provider Yongche says the company has completed its series C round, raising a total of $60 million, according to media reports. Ctrip and DCM led the round. Existing investors CBC Capital and Morningside Ventures also participated. Yongche, which means “use car” in Chinese, received tens of millions of U.S. dollars series
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China’s Inspur and Sinosoft have signed a strategic cooperation agreement to jointly promote the development of applications in key sectors such as cloud computing and big data. Wang Endong, senior vice president of Inspur Group, said that the cooperation with Sinosoft will be able to solve security problems. Under the partnership, they will drive the
Due to high operating costs and real estate problems, Google has reportedly cancelled its plan to build a new data center in Hong Kong. Google previously announced plans to spend USD300 million to build a new data center in Hong Kong to supplement those in Taiwan and Singapore which are currently being constructed. If this
Due to high operating costs and real estate problems, Google has reportedly cancelled its plan to build a new data center in Hong Kong. Google previously announced plans to spend USD300 million to build a new data center in Hong Kong to supplement those in Taiwan and Singapore which are currently being constructed. If this
