Chinese state-owned investment firm Jinan Industry Development Fund has led a CNY1.6 billion (approximately USD225 million) investment in China-based e-commerce platform Huimin. Other participants in the funding round include the company’s existing investors Fortune Venture Capital, GP Capital, China Renaissance, and Fosun International. Huimin operates an online-to-offline retail platform that connects small-scale retailers with commercial suppliers and local customers. The company will use the new capital to expand its core offerings and improve current services.