Shenzhen Fortune Venture Capital (FVC) will join with Shenzhen Fortune Business Consultancy (FBC) to set up a US$29.25 million (RMB200 million) venture capital fund, China Business News reported. Hunan TV & Broadcast Intermediary Co (000917.SZ), the parent of the two companies, announced the tie-up Wednesday. FVC made an initial investment of US$9.51 mil...

Nanjing Automobile MG refused to comment on offshore media reports Wednesday that it will abandon its plans to expand into the North American market, the Shanghai Securities News reported. It told the newspaper overseas commitments were running their course with production of the MG TF sports car kicking off in England, but it refused to comment on its plan ...