Adam Jourdan

China’s Didi plans Chile, Peru launches to take on US rival Uber

The two firms are already battling in Brazil, where Didi bought local start-up 99 in January last year, and Mexico.

China approves second batch of video games, Tencent still not in list

This is the second such list in a fortnight after the body gave its nod to 80 video games in late December.

China’s HNA Group touts assets for sale as funding crunch intensifies

The range of assets spans a hotel project in frozen Harbin and stakes in struggling online lender Dianrong, insurer Bohai Life and brokerage HNA Futures.

Fresh after raising $200m, GIC-backed Luckin Coffee aims to overtake Starbucks in China

Luckin, backed by GIC and CICC, gained a valuation of $2.2 billion after raising $200 million in a funding round last month.

Tesla sets up financial leasing unit in Shanghai in accelerated China push

Tesla has opened a tender process to build its Shanghai Gigafactory and at least one contractor has started buying materials.

Chinese bike-sharing firm Ofo faces ‘immense’ cash crunch, CEO says

Ofo, which started in university campuses in Beijing and expanded to countries around the world, has become something of a cautionary tale about the rapid debt-fuelled boom and bust of new technology enterprises in the country.

Starbucks challenger Luckin Coffee raises $200m in latest funding round

The fundraising was led by investors including Singapore sovereign wealth fund GIC Pte Ltd and China International Capital Corp Ltd.

China sets up online games review panel, raises hopes of resuming approvals

China, the world’s biggest gaming market, stopped approving new titles from March amid a regulatory overhaul triggered by growing criticism of video games for being violent and leading to myopia as well as addiction among young users.

Tencent-backed Meituan reports wider loss in first earnings since IPO

Meituan Dianping, which has a market valuation of around $42 billion, has seen its shares drop 13% since listing amid cooler economic growth and a biting trade war between China and the United States which has sapped investor confidence.

BMW to launch ride-hailing services in China from December

BMW Mobility Service Ltd, a fully-owned subsidiary of the BMW Group, has obtained its ride-hailing licence in Chengdu.