China Digest: Da Heng Qin to pick WorldUnion stake; Tencent unit backs Shushi

Da Heng Qin has agreed to acquire a 15.90 per cent stake in WorldUnion Corporation for 944 million yuan ($135 million). In a separate development, Beijing Shushi Yunchuang Technology has raised over 100 million yuan ($14 million) in an angel round of financing exclusively from Tencent.