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Gordon Yen and Duncan Chui of Radiant Venture Capital, Itai Damti of Leverate at Silicon Dragon investor drinks sponsored by Dentons at the Blue Bar In Hong Kong
Why China-Hollywood Deals Have Come
To A Screeching Halt
China investment into overseas transactions doubled last year to peak at $225 billion, but now Chinese acquisitions overseas have slowed to a small fraction of that former record, especially when it comes to Hollywood. At least one dozen cross-border, China-U.S. deals in the tech, media and entertainment space have dried up over the last six months, including many high-profile deals involving several major Hollywood studios.
Issues have been brewing on both sides of the ocean over China-Hollywood deals. As China has turned to Hollywood as part of its outward reach and bid for soft power, such transactions have been ensnared by Chinese regulators. China policymakers have been closely examining deals that cut across industry lines and command big price tags, while the Chinese government has tightened controls over capital outflows to shore up foreign currency reserves and gains in the yuan currency. Meanwhile, the Middle Kingdom's moves into Hollywood have been facing scrutiny on Capitol Hill as concerns grow about too much influence and control on American content by China.
article at CNBC
by Rebecca Fannin.
Venture Dealmakers Take The Stage at Silicon Dragon Hong Kong 2017:
, Fresco Capital;
James Savage, HKVCA;
Victor Boyajian, Dentons;
, Qiming Ventures;
Alan Chan, Vectr Ventures;
with moderator Rebecca Fannin.
Tim Zanni, Global Chairman, Technology at KPMG, chats with
Rebecca Fannin, Founder/Editor of Silicon Dragon, about tech innovation trends and the latest findings from the KPMG survey of technology executives worldwide.
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From Silicon Dragon Hong Kong 2017 and Other Events
Chinese venture firm
has led an investment of $1.8 million in car parking app
in Beijing that makes it easier to find good and reasonably priced parking spaces in China's crowded cities. It's sort of a new take on the
model, except for parking - and could set off a bunch of funding for rivals that jump in with a similar business model.
With U-Parking features, drivers can estimate parking costs and get more standard spaces and prices in better managed lots. The app also can be used for booking parking spots under an automated allocation system, using car license plate numbers for identification. Starting from Beijing in 2014, the business,
Beijing Base Technology Co., secures parking nodes within lots. It currently operates 300 such nodes within Beijing's downtown area and some 5,000 parking spaces. Plans are to expand the parking service to other major cities in China.
U-Parking is also smartly incorporating other useful features such as information on nearby restaurants and gas stations. The deal was led by
, a managing partner at
Yangtze River Development, a Chinese infrastructure company in real estate development and a port logistics project in the river it's named after, began trading under the symbol YERR on Nasdaq on April 18.
The company plans to be among the leaders in building out China's "one road, one belt" initiative. "YERR has made significant progress as a result of investing nearly $300 million in assets and earning a market capitalization approaching $800 million," said Dan McClory, managing director and head of China for Boustead Securities, YEER's underwriter and financial adviser.