The foreign direct investment of China went up 10.4% from January to February this year but the holidays of the Lunar New Year caused February figures to drop, Reuters reported.
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Survey shows Asia-focused hedge funds added $20B in assets last year
A survey done by AsiaHedge showed that Asian hedge funds were able to add assets of nearly $20 billion in 2013, representing a strong performance after three years, Reuters reported.
China-based online food ordering platform Meican.com scores $10M in Series B round
Nokia Growth Partners led the Series B round for China-based online food service platform Meican.com which raked in $10 million, a statement about the funding said.
Alibaba pours $215M in Tango's $280M Series D round
Alibaba invested $215 million in the newest round for Tango while previous investors poured $65 million in the latest $280 million round for mobile messaging network Tango, VentureBeat reported.
Shanghai Media acquires South Korean variety show
Chinese multimedia and Internet firm Shanghai Media Group acquired the rights to remake the popular 2013 South Korean variety show 'Grandpas Over Flowers' for an undisclosed amount.
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Santa Monica, US-based media entertainment firm Content Media Corp acquired Beijing, China-based producer Alive Group for an undisclosed amount to gain access to the booming Chinese market.
OKCoin raised $10 million in a Series A funding round led by Chinese venture capital firm Ceyuan to become the biggest Bitcoin exchange in China according to trading volume.
Sina Weibo, the China-based microblogging and social media site, has filed its IPO prospectus with the US Securities and Exchange Commission to raise as much as $500 million in its planned US debut, TechCrunch reported.
China-based e-commerce firm Alibaba Group plans to hold a US listing in the third quarter of this year, according to a sources interviewed by Reuters.
Beijing, China-based outbound visa service ByeCity received $20 million in its Series B funding from Alibaba Group Holding Ltd and Chinese private equity firm CBC Capital.
Former Chief Operating Officer of GGV Capital is now a venture partner of GGV Capital, the venture capital company that seeks investment opportunities in firms that connect China and the US, TechCrunch reported.
The People's Bank of China has blocked Tencent Holdings Ltd and Alibaba Group from offering customers with virtual credit cards, according to a source interviewed by Bloomberg News.
Dozens of popular accounts of WeChat, the social messaging app of Tencent Holdings Ltd, were closed by Chinese authorities, Reuters reported citing Chinese media reports.
Analytics company Umeng said the number of active smartphone users in China has surpassed the 700 million mark as of the end of 2013, TechCrunch reported.
