Fraud at Luckin

China Fraud at Luckin News - Caixin Global

The Chinese Starbucks rival has been in hot water after revealing that it inflated its sales by $310 million last year. That scandal has dealt a fresh blow to the reputation of Chinese stocks in the U.S.

10 27, 2020 16:48 PM

Opinion: Trade Offers China and U.S. a Chance to Buoy Sinking Relations

With the phase one deal signed, the way to propel the relationship forward is for both countries to follow through on their commitments

10 21, 2020 13:42 PM

Chinese Retailer Miniso Beats Uniqlo and Muji at Their Game

‘Japan-inspired’ chain lists in U.S. despite challenge of slowing growth

10 14, 2020 09:20 AM

CX Daily: Alibaba and Pinduoduo Fight for Top Spot in China’s Online Bargain Basement

China's exports and imports hit record highs in September. The country's stock market tops $10 trillion for the first time since 2015

10 14, 2020 06:01 AM

China Business Digest: September Foreign Trade Surges; Qingdao Cuts Flights After New Covid-19 Flare-Up

Major real estate developers slash borrowing under strict controls; Luckin and collaborators are fined $9 million in fake-sales scandal

10 13, 2020 03:31 AM

Related Parties Helped Luckin Coffee Fake 123 Million Transactions

Market regulation administration penalizes 2 Luckin units and 3 related entities the maximum $300,000 each for their roles in $304 million financial reporting fraud

10 02, 2020 08:30 AM

Holiday In-Depth Reads — A Turbulent World

How the pandemic fosters international mistrust rather than cooperation as travel stalls, students are stranded, cross-border regulation fails and cross-border corruption comes to light

09 29, 2020 19:49 PM

Biopharma Firm Zai Lab Raises $825 Million in Hong Kong IPO

Nasdaq-listed company sees strong debut in Asian hub on investor interest in health care

09 23, 2020 21:12 PM

China Business Digest: More Foreign Investors Can Tap China Listed Firms; China Eases Entry Rules for Some Foreigners

Huawei has enough inventory to stay afloat while seeking replacements for chips barred by Trump administration; BGI gets big coronavirus test-kit order

09 23, 2020 09:18 AM

CX Daily: ‘Made in Hong Kong’ Ban May Have Little Impact on Trade

HSBC sinks to its lowest level in more than a decade. China's regulator fines Luckin Coffee and companies involved in its financial fraud

09 22, 2020 20:25 PM

China Business Digest: Regulator Piles Penalties on Luckin Coffee; Biotech Firm Raided for Alleged Import and Export Violations

ZTO Express prices HK shares at discount to NY closing price; hotelier Huazhu targeted by short seller alleging overstatement of profit as HK shares debut

09 22, 2020 19:50 PM

China’s Market Regulator Piles Penalties on Luckin Coffee Over Fraud Scandal

Authority hits two companies owned by Luckin and 43 others with a total of $9 million in fines for violating the country’s fair competition law

09 04, 2020 04:30 AM

SEC Probes China’s GSX Techedu Amid Tighter U.S. Scrutiny

Chinese education company reports regulator’s request for records since Jan. 1, 2017, following earlier financial reporting allegations by short sellers

09 03, 2020 19:48 PM

Opinion: As Chinese Firms Rush to List, Corporate Governance Should Come to the Fore

Properly overseeing a company requires more than just meeting the minimum legal requirements

09 01, 2020 02:15 AM

Credit Suisse Plans to Double China Headcount in Five Years

Shaking off link to Luckin scandal, Swiss banking giant aims to pour resources into tapping China’s growing millionaire market, aiming to double revenue

08 31, 2020 21:23 PM

China Business Digest: Nongfu Spring Prices HK IPO at Top of Range; Bank of China Profit Drops 11.5%

New export restrictions cast uncertainty over TikTok’s sale of U.S. assets; two more state-owned banks join China’s digital currency experiment; Citic won’t name HK CEO

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