Comments Off on Chinese coffee startup Luckin Coffee will price its initial p
public offering at $17 per share on Nasdaq Stock Exchanges, CNBC reported on Friday.
This price is at the top of its expected range from $15 to $17 in a regulatory filing, indicating the value of the company at about $4.2 billion.
Luckin Coffee raised $150 million in the most recent Series B+ round of financing, lifting the B
eijing-based company’s valuation to about $2.9 billion, the company announced on April 18.
With the aid of new technology, Luckin Coffee provides customers convenient service with innovative business model.
“The old way is people looking for coffee. With us coffee finds the people,” Luckin Coffee’s Co-founder Eric Guo told CNBC.
As a representative of China’s new retail based on mobile app, Luckin Coffee, founded in 2017, has expanded at a rapid pace.
Comments Off on Quotable quotes from business leaders at 3rd WIC
Praising Tianjin’s efforts and achievements in intelligent sc
ience and technology, Liu Chuanzhi, board chairman of Legend Holdings Co Ltd, pred
icted the city will make a qualitative leap in two to three years by combining intelligent technologies with manufacturing.
Liu, also founder of Chinese computer giant Lenovo, said his company, like Tianjin, considers intelligent technology a new imp
etus. Lenovo is working on many intelligent applications and has invested in many high-tech ma
nufacturing enterprises. It uses various artificial intelligence-driven algorithms and machine learning to ana
lyze the data of its supply chain system, using it to optimize Lenovo’s new intelligent spare parts supply chain.
Liu Qingfeng, chairman and CEO of iFlytek, said the company has developed a series o
f products driven by AI applications, based on small samples over the past year.
The company’s latest technological breakthrough is for the first tim
e its machine has surpassed humans in English reading comprehension, Liu said.
He said that he believes AI in 2019 has entered the year of large-scale application.
Comments Off on Top regulator says economy set for growth
Comments Off on screenshot of the “father sharing” mini programher” is also
While some netizens praised the story, others felt cheated for the home decoration advertisement afte
r the video. Jiang Luxian, a lawyer from Chengdu, Sichuan province, said the advertisement probably violates relevant provisions of the A
dvertising Law, and the creativity of “sharing father” is also improper for public order and traditions.
Oppein, the creator behind the promotion, however, said on social media that
it hoped everyone would pay attention to the lack of father figures, and return to the family for love.
“Everything can be shared in this era, apart from family love,” the company said.
China’s foreign direct investment climbed 6.4 percent year-on-year to 305.24 billio
n yuan ($44.38 billion) in the first four months, the Ministry of Commerce said Thursday.
Meanwhile, investment from South Korea, the United States and Germany in Chin
a grew 114.1 percent, 24.3 percent and 101.1 percent year-on-year, respectively.
In April alone, FDI amounted to 62.95 billion yuan, up 6.3 percent year-on-year.
Comments Off on They will also increase the number of personnel exchan
anges to improve the experience and effectiveness of customs officers, Jin said.
China will continue to conduct joint law enforcement operations with other countries targeti
ng IPR violations, including Russia and the US. Customs officials of the EU, Japan and South Kore
a have responded positively to China’s proposal for law enforcement operations, he said.
“We have been encouraging domestic and overseas enterprises to conduct exchanges on t
echnology and protecting the lawful intellectual property rights of overseas enterprises in China,” Jin said. “We a
lso want other countries to intensify IPR protections for Chinese enterprises on their soil.”
Jin made the comments at a news conference organized by the State Council Infor
mation Office in Beijing for the release of an IPR protection report by the Chinese government.
Comments Off on Intensified law enforcement also benefits overseas ent
erprises in China. Last year, intellectual property authorities punished violators in more
than 6,000 cases of infringing on rights of trademark registrants from overseas, with a t
otal value of 151 million yuan ($22 million), an increase of 50.1 percent over the previous year, the report said.
An agreement to support young scholars’ research into the Silk Road was signed between China and UNESCO during a ses
sion of the Conference on Dialogue of Asian Civilizations in Beijing on Wednesday.
Under the agreement, an international academic program will be launched with funding of $1 mill
ion from the Chinese government to scholars under 35 years of age from around the world.
Hosted by the Ministry of Education and UNESCO, the session – entitled “Safeguardin
g the Diversity of Asian Civilizations” – focused on cultural interactions among Asian people and disc
ussed challenges in terms of revitalizing the multiple cultures of Asian countries and regions.
Comments Off on ctive investment and harness the digital economy’s role in driving
le in driving China’s economic and social development.
“We need to upgrade our internet services. This is a key measure t
o boost consumption and meet the needs of our massive cellphone users,” Premier Li said.
Participants at the meeting agreed that upgrading and expanding the cap
acity of internet infrastructure should be an important area in boosting effective inves
tment. By the end of this year, fiber-to-the-home (FTTH) ports relative to all broadband ports will be raised to more th
an 90 percent, 1,000M broadband will be extended to more than 300 cities, and base stations for mobile internet will be upg
raded with expanded capacity. The goal is to raise the speed of both fixed-line and mobile internet services to 1,000M.
Broadband networks will cover 97 percent of primary and middle schools nationwide this year, and dedicated inter
net services will be made available over time in hospitals and medical consortiums above the county level.
Comments Off on In Forbes’s ranking, 309 of the world’s top 2,000 largest publ
public companies are from the Chinese mainland and Hong Kong.
The United States has 575 companies, the most among the 61 countries and regions involved in the ranking.
Japan is third-largest contributor, with 223 companies joining in the list.
This year marks the 17th release of the Global 2000 ranking since it was first published by Forbes in 2003, when the Unite
d States was home to 776 companies in the list while the Chinese mainland and Hong Kong only had 43.
Industry-wise, banks and diversified finance make
up most of the list, with 453 companies appearing on it, followed by tech ind
ustry and construction industry, with 184 and 123 companies on the list, respectively.
Comments Off on Liu’s article was published in Qiushi Journal, a flagship m
magazine of the Communist Party of China Central Committee. He said more efforts a
re needed to implement the proactive fiscal policy and boost efficiency this year.
Preventing and defusing local governments’ hidden debt risks is key to controlling major risks, he said.
Innovative financial tools will be introduced for debt swaps, and the indebted comp
anies will be allowed to choose the same way, under guidance from the local governments, Liu Shangxi, hea
d of the Chinese Academy of Fiscal Sciences, the Ministry of Finance’s think tank, told China Daily.
“The total amount of hidden debt waiting to be swapped has not yet been calculated, as this
round of debt swaps will not involve the government’s administrative orders, but depends on the ma
rket’s appetite based on the evaluation of the potential default risks and the companies’ solvency,” he said.
Comments Off on Roads and buildings were illuminated Tuesday evening befor
I hope all Asian countries will respect and trust each other, co-exist in harmony, expand cross-border, cross-time-and-space as well as cross-civ
ilization exchanges, and jointly maintain the peaceful time that is more valuable than gold.
Asian people expect Asia of common prosperity
I hope all Asian countries will jointly promote economic globalization that is open, inclusiv
e, balanced, and beneficial to all, and work together to eliminate poverty and backwardness in some countries.
Civilizations will lose vitality if countries go back to isolation and cut themselves off from the rest of the world.
Mutual respect, equal treatment among civilizations stressed
It is foolish to believe that one’s race and civilization are superior to
others, and it is disastrous to willfully reshape or even replace other civilizations.