A venerable rice dumpling company gets ready for an IPO
There’s big money in old-fashioned Chinese foods and holiday treats, and one of China’s oldest consumer brands is ready for the big time.
Business & Technology
Chinese companies going global. Global companies capitalizing on the size and growth of the China market. State-owned enterprises. Policy-based state investment. Startup unicorns with Chinese characteristics. There is no shortage of business stories to tell in China.
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Luckin Coffee is back from the dead and may relist in the U.S.
Luckin Coffee was a stock market darling with a reputation as a high-tech Starbucks killer. An accounting fraud scandal nearly killed the company in 2019. But Luckin has been making money again.
Coke and Pepsi copy Genki Forest’s sugar-free beverages
One of the most innovative consumer brands to emerge in China in recent years, Genki Forest has created a market for pricey sugar-free drinks. Now major global and Chinese players are piling in to compete.
Omicron triggers mass flight cancellations into China and Hong Kong
Trying to travel to China or Hong Kong in the next month? Expect delays. China has canceled over 140 incoming international flights in the past week due to COVID-19, while Hong Kong has barred all flights from eight countries.
Smart trash cans but no social media in new ‘digital economic development plan’
Beijing’s campaign to tame the internet platforms doesn’t mean an aversion to digital technology. But the government wants technology deployed in the real economy, to make factories more efficient, and cities and villages better places to live.
China to promote digital yuan to foreign Olympic visitors
The Beijing Olympics next month will be the first time that the digital yuan app will be available to foreigners, making this one of the first tests China must pass in its quest to globalize the currency.
What will happen to private tutoring? New Oriental’s 2022 game plan
New Oriental Education ($EDU), the largest Chinese tutor on the block, recently posted a year-end summary: Revenues in 2021 decreased by 80%; 60,000 employees were dismissed; and the company lost 20 billion yuan ($3 billion) through such expenses as tuition refunds and severance pay.
The China story behind Apple’s $3 trillion valuation with Doug Guthrie
From 2014 to 2019, Doug Guthrie led Apple University’s efforts on leadership and organizational development in China. He speaks to Chris about how Apple’s current success is due in large measure to the deep partnerships the company has in China.
Cloud computing startup bags $40 million in angel financing round
Jiuzhu Network Technology, a cloud computing and networking startup, has raised $40 million in an angel financing round on the back of growing demand for remote work.
Where to invest in China’s ‘common prosperity’ age
Coal, real estate, gaming and social media all look to be on their way out in China. Who are the new economic winners in Xi Jinping’s common prosperity era?