In brief: China’s startup Starbucks challenger now valued at $2.9b

Source: TechInAsia China’s Luckin Coffee, a self-declared challenger to Starbucks, has raised US$150 million in its latest round of funding, which values the company at $2.9 billion, reports Reuters today. The investment, US$125 million of which came from a private equity fund managed by BlackRock, follows a US$200 million round in November that had increased the company’s valuation … Read more

Amazon to shut down China website in July

Source: UPI Amazon will shut down its China website on July 18. File Photo by Stephen Shaver/UPI | License Photo April 18 (UPI) — Amazon said Thursday it’s pulling out of the lucrative and crowded e-commerce market in China. The company told third-party sellers Amazon will stop operating its Chinese site Amazon.cn on July 18, ending … Read more

Pudong offers one-stop permit shop for expats

Source: SHINE The Pudong International Talent Hub   Foreign professionals living in Pudong are now able to obtain work and residence permits in just five days. Across the city, foreigners must visit different departments, ranging from foreign experts’ affairs administration to entry-exit administration, and go through a set of procedures to obtain work and residence permits. … Read more

How to Check if Recruiter is SCAM in CHINA.

Source: ExpatLife Beware that the China con artists are not all Chinese. Many are foreigners that employ blind ads spammed all over the internet, really awesome web sites, and both testimonials and “review” sites that are all self-generated or paid for.  Many falsely affiliate themselves with SAFEA or some famous university because they know you are too … Read more

No, China Did Not Announce Those Scary New Visa Rules

Source: That’s Mag Talk about an April Fool’s prank gone wrong. An ‘alarming’ document made waves on expat WeChat groups on Monday, April 1, stating that immigration rules have been put in place that “will affect the majority of expats.” While we’ve certainly witnessed some rapid changes to China’s visa policy over the past few … Read more

E-bike etiquette in Shanghai needs to change, foreign riders included

Source: SHINE Two adults riding an e-bike is against the law, but it doesn’t stop some from doing just that — including foreigners.   Shanghai’s government recently released the stats for accidents, injuries and deaths involving e-bike riders last year, and to put it bluntly it’s really peed me off. That’s why today I’m going … Read more

Huawei Tops $100 Billion Revenue For First Time Despite Political Headwinds

Source: Slashdot An anonymous reader quotes a report from CNBC:  Huawei’s revenue grew 19.5 percent in 2018, surpassing $100 billion for the first time, despite continuing political headwinds from around the world. Sales came in at 721.2 billion yuan ($107.13 billion) last year. Net profit reached 59.3 billion yuan, higher by 25.1 percent compared to a … Read more

Why it’s time to wake up and smell the coffee on Luckin

Source: technode Luckin Coffee, China’s delivery-focused Starbucks rival that opened around 2,000 stores over the past year and a half, is a hell of a dream—a rapidly-growing chain fueled by ambitious venture capital and buy-one-gift-one offers. A little over 15 months from launch, Luckin is preparing for a US IPO with a valuation of around $3 … Read more