A consortium that includes China-focused private equity firm CITIC Capital, Chinese investment holding company Tencent’s Tencent Collaboration Fund and China-based Dalian Group’s media and arts subsidiary Wanda Culture Industry Group has participated in an RMB6 billion (approximately US$967 million) financing round for China-based Tongcheng Network Technology. Tongcheng, also known as LY.com, is an online travel service provider in China. The financing round reportedly valued the company at more than RMB13 billion (approximately US$2 billion).