Top luxury brands from Chanel to Louis Vuitton have increased prices of some of their most coveted products as they seek to make up for sales lost during weeks of coronavirus lockdowns. ( read original…
BUSINESS
China auto sales fall in April but loss narrows
China’s auto sales declined again in April but losses narrowed in a sign the industry’s biggest global market is recovering from the coronavirus pandemic as Beijing eases anti-disease controls … ( read original story …)
China’s Central Bank Proposes a Blockchain-based Trade-Finance Platform
The People’s Bank of China proposed a blockchain trade financing information platform for the Guangdong-Hong Kong-Macao Greater Bay Area … ( read original story …)
Fall From Grace: Luckin Coffee’s Former Billionaire CEO Fired Amid Fraud Scandal
Jenny Zhiya Qian, who led Luckin Coffee’s meteoric rise from a single shop to Starbucks’ biggest rival in China, was fired after an internal probe revealed that some of the company’s sales figures … (…
The US and China are on the brink of a new Cold War that could devastate the global economy
The relationship between the US and China was already teetering close to the edge of a cliff before COVID-19, but the pandemic pushed it right off. ( read original story …)
China willing to futher cooperate with South Korea on coronavirus prevention and control
Chinese President Xi Jinping told South Korean President Moon Jae-in on Wednesday that China is willing to further cooperate with South Korea on coronavirus prevention and control, state television … ( read original story …)
Live-streaming sellers and blockchain engineers are officially jobs in China now
China has a new list of officially recognized jobs, adding to a list that included esports players and drone pilots last year … ( read original story …)
Standard Chartered Claims First Yuan-Based Letter of Credit Issued on a Blockchain
Standard Chartered said the blockchain letter-of-credit transaction, between Rio Tinto and Chinese firm Baosteel, was the first to be denominated in Chinese yuan. ( read original story …)
Pandemic Accelerates Drive for Blockchain in Trade Finance
In its most basic form, trade is a complicated transaction — a buyer in one country, a seller in another, middlemen and agents to navigate a maze of shipping lines, customs officials, air freight and … (…
JD.com-backed delivery platform Dada Nexus lines up for a US stock sale even as bitter aftertaste of Luckin Coffee’s scandal lingers
Dada Nexus, a Chinese crowdsourced on-demand delivery and retail platform backed by e-commerce giant JD.com, has filed for an initial public offering (IPO) in the United States according to a … ( read original story…
IPOs Help Lift China To Record On Forbes Global 2000 List
China, including Hong Kong, notched a record performance on this year’s Global 2000 survey of the world’s 2,000 top publicly traded companies. ( read original story …)
Kingsoft Cloud is considering a Nasdaq IPO, in a US$450 million bet that anti-China sentiment is a tempest in a teapot
Kingsoft Cloud, the cloud storage subsidiary of one of China’s biggest computer software developers, is eyeing an initial public offering (IPO) on the Nasdaq, pitching to tap the US capital market … ( read original…
Another Large Chinese IPO Lines Up in U.S. After Luckin Scandal
Dada Nexus Ltd., an operator of crowd-sourced delivery platforms in China backed by JD.Com, has filed for what could be the second large U.S. initial public offering by a Chinese firm since an … (…
