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Fraud at Luckin
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.
CX Daily: Dishonest Drugmaker Shows How Hard It Is to Combat Cross-Border Fraud in China
China issues additional quotas for outbound investment. President Xi will attend the Davos Agenda 2021 event next week
In Depth: Dishonest Drugmaker Shows How Hard It Is to Combat Cross-Border Fraud in China
Investors’ interests remain inadequately protected despite progress in such cases
Embattled Luckin Dusts Off Franchise Plan to Tout for New Retail Partners
Coffee chain operator hit by fraud scandal seeks investors in 22 provinces as it tries to get back on its feet
CX Daily: China Issues Rules for Cranking Up National Carbon Market
Honor works with Qualcomm on 5G devices. China’s top chipmaker stops trading shares in the U.S.
Group of Luckin Coffee Executives Demands CEO’s Termination
In a letter to the company’s board, the managers accused Guo Jinyi of cronyism, abuse of power and abysmal decision-making
Year in Review: Once Darlings, China Tech Giants Face Growing Scrutiny at Home and Abroad
Setbacks for telecoms giant Huawei, internet sensation TikTok and Starbucks challenger Luckin reflect increasing pushback against Chinese high-tech firms
Embattled Luckin Scrambles for Survival after Fraud Scandal
Court document shows Chinese coffee chain reached profitability in August 2020, a year later than it initially claimed; Luckin now sees annual revenue of 3.8-4.2 billion yuan this year
CX Daily: How Ethylene Glycol Led to the Yongcheng Coal Default
Analysts with overseas investment banks are optimistic about China's economy in 2021. Hong Kong's regulator issues the first crypto exchange license
Luckin Coffee to Pay $180 Million to Settle U.S. Securities Fraud Case
Probe finds staff at China’s Starbucks competitor tampered with bank records and faked sales figures for much of 2019
China Securities Watchdog Says U.S. Bill on Foreign Government Control Is Discriminatory
CSRC says it firmly opposes practice of ‘politicizing securities supervision’
CX Daily: The Fight Over China’s Law to Protect Personal Data
China encourages more domestic investment abroad. Hong Kong chief executive has to keep “piles of cash” at home due to U.S. sanctions
Luckin Boss Fined 300,000 Yuan for Disclosure Issues at His Other Firms
A car rental firm owned by Lu Zhengyao reported incorrect asset figures, while another of his businesses did not disclose its relationship with Luckin
China Again Pledges Cross-Border Audit Cooperation With U.S.
Securities regulatory commission reaffirms commitment to joint inspections and calls for dialogue as SEC pushes delisting regulation
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