China Tech Newsletter – Sept.1, 2015

Yu’e Bao, the online money market fund offered by Alibaba’s finance arm, had had 226 million customers as of June 2015, according to the half-year report of Tianhong Asset Management (or TH Fund), the fund manager that is majority-owned by Alibaba.

Businesses in Shenzhen will soon be able to file and pay taxes through WeChat. (via Xinhua)

Xindong Network has raised RMB250 million (about US$40m) led by China Culture Industrial Investment Fund. (via Lieyunwang)

The company has developed several top-grossing web games (or browser games) such as Shenxiandao. Prior to developing games, Xindong was running VeryCD, one of the most popular file sharing sites in China.

Game console startup Fuze Game has raised Series A funding from LeTV, LineKong (game developer), Baofeng (video software and VR company), IDG Capital PartnersNorthern Light Venture Capital, and Fosun.

Wanda Cinema Line Corp. (SZ:002739), the cinema business of real estate giant Wanda Group, announces to acquire 20% of Mtime, the leading online movie community in China. Financial terms were not disclosed.

Outdoor display advertising company Focus Media aims to relist on the Shenzhen Stock Exchange via Hedy acquisition. — Reuters

Dangdang reports second quarter results.


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