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.
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
Singapore’s Food and Beverage Industry Buckles Under Influx of Chinese Brands
An average of 274 F&B businesses shut down each month in the first nine months of this year, up from 229 in 2023
Dumpling Chain Din Tai Fung to Close China Outlets Amid Weak Consumer Spending
The announcement came as the likes of fast food brand KFC to local coffee chain Luckin find themselves locked in a race to woo thrifty customers
In Depth: Pressure Builds on Trailblazing Chinese Bubble Tea Brand Mixue
Mixue has mounted an aggressive global expansion only to find local rivals nipping at its heels as markets have grown saturated and its IPO plans have faltered
Analysis: Tencent-Backed Black Myth: Wukong Gives China’s Gaming Industry a Shot in the Arm
Despite its chart-topping debut, long-term profitability remains uncertain for developer Game Science
Caixin Weekly | The Wave of Chinese Restaurants Going Overseas
BaWang ChaJi hosted a pop-up event in Singapore ahead of its planned store opening in August 2024, following disputes with its previous distributor. Several Chinese dining brands, including bubble tea and hotpot chains, are accelerating international expansion, particularly in Southeast Asia, leveraging local CEOs and franchising models. Chinese restaurants face challenges abroad, such as supply chain issues and localizing their offerings, but are seeing growing interest and success, with brands like Haidilao and Mixue Bingcheng leading the way.
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