Chinese business process outsourcing firm iSoftStone Holdings Limited has closed a round of undisclosed amount of financing from a collection of private equity and venture firms.

IDGVC Partners and Infiniti Capital are splitting a USD20 million investment in a Chinese mobile gaming developer.

Leading Chinese venture capitalist Zhang Fan has called it quits from his position as founding managing partner at Sequoia Capital China.

According to statements to local media by Wu Jiong, an investment partner of Northern Light Venture Capital, the company will invest USD4 million to USD5 million to the Chinese social networking services website, Kaixin001.com.

Chongqing Chongyou Information Technology has signed a contract with Chongqing Venture Capital Company and Chongqing Yufu Assets Management Company to jointly invest CNY320 million to set up a joint venture named Chongqing CYIT Communication Technology Company.

Alisoft, a subsidiary of Alibaba Group, reportedly plans to cooperate with 20 venture capital companies to invest USD100 million to China's software market and to create 30 listed companies in three years.

South Korean telecom operator SK Telecom announced on Tuesday that it would invest US$1 billion to jointly build a digital content and design center in China with several of its partner and subsidiary companies.

Chinese e-commerce provider Alibaba has announced an initiative to launch an online platform to help small and medium enterprises in China solve their difficulties in receiving financing.