According to its CEO, Dianping.com's value is higher than Groupon and Yelp or about USD10 billion.
China
Hutchison Whampoa, Cheung Kong Holdings to sell stake in Extreme Selection for USD 1.16 billion
Two firms owned by Li Ka-shing would be selling holdings in Extreme Selection, the firm that owns the company developing a real estate project in Lujiazui's financial district.
FIELDS grocery store closes Series A funding
Series A funding round for FIELDS raised USD5 million led by ClearVue Partners. The premier online grocery store in Shanghai, FIELDS, with its strong focus on safety, freshness and quality, announced a USD5 million Series A investment round.
Joint venture for freezer cargo logistics formed
Preferred Freezer Services, Sinotrans Ltd, Yang Ming Marine Transport Corp and Yida Group form joint venture.
Chukong raises USD50 million in Series D funding, denies IPO rumors
A total of USD50 million in investment funding was received by mobile game developer Chukong Technologies from backers including GGV capital and Sequoia Capital.
Latest News
Private company intelligence firm PrivCo predicted that Alibaba's valuation would be at USD110 billion should the company go public.
The China Securities Regulatory Commission approved the application of China Everbright Bank Co to hold a share sale overseas and raise USD 2 billion.
Yahoo, which owns 24% of ecommerce giant Alibaba, reaps revenues prior to the IPO. Yahoo's investment in Chinese e-commerce firm Alibaba Group Holding Ltd was sufficient to keep Wall Street happy despite the continued struggle in the third quarter for advertising revenues, The shares of Yahoo increased by 1% to USD33.
The plan is to raise funds from a share sale of Huaneng Renewables Corp. Wind farm operator from China, Huaneng Renewables Corp, is planning to raise HKD1.
Wumart Stores was said to be in discussions with CP Lotus to buy the latter's units, according to a source who told Bloomberg.
The Wall Street Journal reported that China could allow foreign companies to sell shares in the free trade zone in Shanghai.
Alibaba planned to transform with the Chinese retail industry by increasing online transactions to almost USD 490 billion.
According to German paper Welt am Sonntag, Deputy Chairman Guo Ping of Huawei said that the telecoms network does not intend to engage in any takeover plans.
Taiwanese and Chinese ties strengthened with new equity exchange center in Fujian, China. A cross strait equity exchange center in Fujian is being set up by China and Taiwan.
