Pei Li

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.


Bike-sharing firm Ofo’s dramatic fall a warning to China’s tech investors

Ofo’s plight is a warning for China’s tech investors, who have plowed tens of billions of dollars into bike sharing, ride hailing and food delivery.


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.


As trading debut looms, China’s Meituan locked in battle of super-apps

The delivery platform is squaring off with Alibaba-backed rivals Alipay, Ele.me and Koubei as well as Tencent’s own WeChat.


Chinese online grocer Dada-JD Daojia raises $500m from Walmart, JD.com

The company comprises of two businesses and is partly owned by JD.com.


Starbucks hopes coffee delivery partnership with Alibaba can perk up China sales

The companies will collaborate across businesses within the Alibaba group, including delivery platform Ele.me, supermarket chain Hema, online retailers Tmall and Taobao, and mobile and online payment platform Alipay.


China’s Luckin Coffee raises $200m in GIC-backed round, now valued at $1b

The Chinese coffee startup – which does a strong business selling and delivering coffee online – has been training its sights on its far larger rival Starbucks.


Indonesia bans Chinese video app Tik Tok for “inappropriate content”

It is operated by venture-backed Toutiao, valued at more than $30 billion, that is one of China’s fastest-growing tech start-ups.


Alibaba, Tencent lead $1.5b investment in Chinese media group CMC

CMC has a stake in football team Manchester City’s owner and a JV with Warner Brothers.


Tencent-backed online video startup Kuaishou buys rival AcFun

Kuaishou, meaning “fast hand”, is valued at about $18 billion.