Friday, December 06, 2013

HC International forms JV to provide financing services

News this week: Earlier this week, Beijing-based B2B media company HC International announced the formation of a joint venture (JV) with another Hong Kong-listed company, Digital China, to provide micro-credit internet financing services.

Subject to the approval and the obtaining of necessary permissions from relevant Chinese authorities, the JV will be 60% owned by Digital China and 40% by HC International. The JV will have a total registered capital of 1 billion yuan (US$164 million).

HC’s e-commerce competitor in China, Alibaba Group, obtained its license to provide small business loans to companies on mainland China in April 2010.

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.


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