The fresh fundraising will be used to bankroll Manbang's innovation in technology, services, and operations, which can advance the company's intelligent logistics systems, facilitate market expansion and enhance delivery-on-arrival services, the company said.

Chinese question-and-answer website Zhihu has completed a $434 million F-round of financing from investors that include short video platform outfit Kuaishou and internet search engine giant Baidu Inc to bankroll its expansion.

Tencent-backed iDreamSky Technology Holdings has put the finishing touches to a planned initial public offering in Hong Kong to bankroll its vision of being a newly-minted tech superstar and the flagbearer of China's burgeoning entertainment industry.

Hujiang EdTech, VIPKid and iTutorGroup are among the startups that have raised funds recently to bankroll their expansion, and have adopted algorithms to optimize their products.

About 20 percent of funds would go to bankroll new technologies to improve the customer experience and food safety standards.

FII plans to raise 27.1 billion yuan in a Shanghai listing to bankroll projects in areas from smart manufacturing, cloud computing, the internet of things to fifth-generation wireless technologies.

The latest financing will also bankroll investments in the fields such as autonomous driving, security and surveillance, intelligent retail, finance and education.

Fosun International, one of the largest private conglomerates in the Chinese mainland, is looking to bankroll a big effort in biotechnology and artificial intelligence, a move that will essentially help the acquisitive company lead the pack in the next technology breakthrough and build up an investment empire of billion-dollar companies.

The $68 billion company is now seeking funds to bankroll a massive logistics buildup to support that international expansion.

"It will greatly increase integrated circuit enterprises' profits, and boost the confidence of all employees who work in the sector," Mi said, "The move will also attract more private capital to bankroll promising semiconductor companies.

The company said in its listing prospectus that it would use the IPO proceeds to develop cutting-edge chip manufacturing processes, supplement working capital and bankroll the research and development of advanced technologies.

Ding Wenwu, president of China Integrated Circuit Industry Investment Fund Co Ltd, said earlier that money has been flowing into the chip design segment, which has a lower technological threshold and offers quick investment returns, but more efforts are needed to bankroll the chip material, equipment and manufacturing segments, which take a far longer time to recoup investment.

The company said in its listing prospectus that it would use the IPO proceeds to develop cutting-edge chip manufacturing process, supplement working capital and bankroll the research and development of advanced technologies.

Ding Wenwu, president of China Integrated Circuit Industry Investment Fund Co Ltd, said earlier that money has been flowing into the chip design segment, which has a lower technological threshold and quick investment returns, but more efforts are needed to bankroll the chip material, equipment and manufacturing segments.

Guo said the company continued to bankroll big efforts in more than 70 new projects, with a combined investment of 28.5 billion yuan.

The total debt instruments issued domestically, and overseas,to bankroll Belt and Road constructions exceeded 170 billion yuan by the end of April, according to the newspaper.

The 1.5 billion yuan raised will be used to bankroll the Belt and Road Initiative projects, according to a Monday report carried by Economic Daily.