A total of 11 companies, including a subsidiary of online retail giant Alibaba obtained approval from Chinese authorities to be able to purchase mobile services from major providers and repackage them to offer to end users, the Ministry of Industry and Information Technology (MIIT) said on Thursday.
Tags: China
2014 promises faster growth, but no leap forward
The world economy should snap a three-year stretch of slowing growth in 2014, although the upturn over the next 12 months looks likely to be incremental rather than a leap forward.
Increased merger activity will carry over to next year - report
The general consensus of research firms and mergers and acquisitions (M&A) experts believed that the brisk activity of dealmaking will keep its momentum till the next year.
Chinese firm eyes purchase of Australia's United Dairy
China's Bright Food Group Ltd unit Manassen Foods could be the frontrunner in an acquisition contest for United Dairy Power, the biggest privately-owned milk supplier in Australia, according to a news report by the Business Spectator.
Chinese taxi app Didi expected to close $100M in Series C from Tencent
Shenzhen, China-based taxi app Didi Dache is reportedly raising $100 million in a Series C funding round from investors Citic and Tencent for the integration of a payment platform into the app.
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The number of internet cafés in China has decreased, a collateral damage to China's bid to go online as smartphones and tablet devices grow in popularity, a Financial Times report said.
China-based construction equipment manufacturer Zoomlion Heavy Industry Science & Technology Co has bought Germany-based dry mortar equipment producer M-Tec, according to a statement on the company's website.
High-profile Chinese multimillionaire Chen Guangbiao said he plans to invest in the green energy industry of Taiwan next year, and to tap into the country's solar energy market.
Two foreign investments in Chinese financial institutions this month suggest China will not turn away cash from countries it has taken diplomatic or trade measures against after blaming them for interference in its domestic affairs.
Southwire Co., one of the biggest electrical wire and cable makers in the US, has agreed to takeover smaller rival Coleman Cable for $492 million in cash. Southwire will also assume Coleman's debt, bringing the deal size to about $786 million.
New York-based online eyeglasses company Warby Parker has scored $60 million in a Series C funding round from its existing investors to beef up its customer support team.
Shanghai-based investment fund China Media Capital (CMC) purchased a stake in Beijing-based business media entity Caixin Media Company Ltd from Zhebao Media Holding Group Co Ltd for an undisclosed amount.
In a bid to expand its operations in China, The Hershey Company recently bought out Shanghai Golden Monkey Food Co, maker of over 200 varieties of candy, in a deal valued at $498 million.
More state-owned companies in China may be sold off as private entities in a bid to improve economic, according to a Chinese official affiliated with the agency that controls the country's largest state firms.
