Topics
Fraud at Luckin
The Chinese Starbucks rival has been in hot water after revealing that it inflated its sales by $310 million in 2019. That scandal has dealt a fresh blow to the reputation of Chinese stocks in the U.S.
Top Stories of the Month: Chinese Local Governments Risk Replicating Mistakes of LGFVs
Localities have created thousands of ‘culture and tourism’ investment companies, with some designed to shift their traditional financing vehicles onto a market-oriented footing and sidestep borrowing limits
CX Daily: China Puts Industry, Consumers at Heart of Next Five-Year Plan
For the economy, the plan focuses on building a modern industrial system, accelerating the growth of household spending and tackling government debt
Luckin Coffee Delivers 50% Revenue Jump, Tamps Down Talk of U.S. Relisting
The Chinese coffee chain posted record sales and customer numbers, but says there’s no timeline for returning to a major U.S. exchange
Analysis: Starbucks’ Discounted China Sale Shows Its Struggles in Crowded Market
Sale of majority stake highlights how the chain has been losing ground to more nimble local rivals like Luckin and Cotti Coffee
Starbucks to Sell Majority Stake in China Business
The U.S. coffee giant will form a joint venture with Chinese private-equity firm Boyu Capital in a $4 billion deal to run its stores on the mainland
In Depth: Starbucks, Burger King Overhaul China Strategies
The U.S. food and beverage giants are seeking partners to help them with localization as their market shares shrink, squeezed by growing domestic competition
CX Daily: Why Modi Won’t Play Cowboys and Indians With Trump, Opting Instead for Strategic Autonomy
Top Chinese and U.S. officials are set to meet in Spain this weekend. China ousts four more senior generals from its national legislature.
Carlyle, HongShan, EQT Among Final Contenders for Starbucks’ China Business
U.S. coffee giant plans to name new strategic partner by October as it faces shrinking market share and rising local competition on the Chinese mainland
CX Briefing: Interest in Starbucks’ China Business Percolates
Also in today’s rundown: Beijing mediates Cambodia and Thailand border clash at informal Shanghai meeting, Chinese grid operator to help Indonesian utility transition to renewables
Weekend Long Read: How China’s Slowing Economy Is Shaking Up Consumer Spending Habits
A profound shift is underway as consumers prioritize personal wellness over material possessions, forgo big-city splurges for small-town travel, and pivot from luxury goods to essential items that provide a lot more bang for the buck
Starbucks Courts Buyers as It Weighs Sale of China Business
Move comes amid hot competition from Chinese rivals and tepid sales
After Duterte Arrest, China Urges Court to Avoid ‘Double Standards’
Also in today’s rundown: Luckin Coffee wins a trademark dispute in Thailand, Beijing to host meeting on Iran nuclear issue, GPU-maker completes funding round
DeepSeek Becomes Subject and Source of Market Misinformation
Also in today’s rundown: Chinese Vice Premier He Lifeng talks with U.S. Treasury Secretary, Nio denies layoff rumor, Huawei to launch new luxury model in May
In Depth: China’s Restaurant Chains May Be Biting Off More Than They Can Chew Overseas
As slowing growth at home builds appetite for global expansion, supply bottlenecks and cultural hurdles are posing challenges
Weekend Long Read: The Human Toll of China’s Beverage Boom
Facing relentless demands, tight deadlines and surveillance, workers at coffee and milk tea chains endure harsh conditions that have sparked a widespread debate online
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