Mar 14, 2014
According to industry sources, Wuxi-based mobile e-commerce service provider Maimaibao Information Technology, operator of m-commerce site Maimaibao (Mmb.cn), has secured a new round of over USD 200 mln in funding, led by Chinese internet and mobile services firm Tencent (0700.HK) and Taiwanese fabless semiconductor company MediaTek (MTK), with participation from Sequoia Capital.
A source at the People's Bank of China (PBoC), China's central bank, has confirmed that the PBoC issued urgent letters to its Hangzhou and Shenzhen branch banks on the afternoon of March 13, requiring the suspension of online credit card products recently released by Chinese third-party payment processor Alipay and internet and mobile services firm Tencent (0700.HK).
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