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07.02.26 - 04:06
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Chinese consumers′ rapidly changing demands keep KFC owner on its toes (SCMP)
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For Yum China CEO Joey Wat, success in the mainland's vast but fierce market does not hinge only on being a local or international fast-food brand.
“I personally have huge respect for many local brands,” she said in November. “Chinese players are innovating a lot under the leadership of their founders. We fully understand that this is a cutthroat market.”
Wat admitted to being a fan of some mainland restaurant chains whose founders remained pivotal in strategic planning and daily operations.......
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07.02.26 - 03:06
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Waning fortunes: how Western brands are adapting to China′s changing consumer landscape (SCMP)
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“Three Starbucks peach lattes for 84.90 yuan [US$12]”, a live streaming host tells viewers on Douyin, China's popular short-video platform. “Three, two, one – the link is up. Don't miss this deal, babes.”
As Starbucks' planned sale of a majority stake in its China business to Boyu Capital, announced three months ago, awaits regulatory clearance, the US coffee chain has stepped up its push into China's heated live streaming shopping race, using discounts to bring down the cost per cup.
The......
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07.02.26 - 02:12
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China Bans Stablecoin Issuance By Foreign And Domestic Companies (ZeroHedge)
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China Bans Stablecoin Issuance By Foreign And Domestic Companies
Submitted by Cointelegraph,
The People's Bank of China (PBOC), the country's central bank, and seven Chinese regulatory agencies published a joint statement on Friday banning the unapproved issuance of Renminbi-pegged stablecoins and tokenized real-world assets (RWAs).
The ban applies to both domestic and foreign stablecoin and tokenized RWA issuers, according to the statement, which was also signed by the Ministry of Industry and Information Technology and China's Securities Regulatory Commission. A translation of the announcement said:
“Stablecoins pegged to fiat currencies perform some of the functions of fiat currencies in disguise during circulation and use. No unit or individual at home or abroad may issue RMB-linked stablecoins without the consent of relevant departments.”
Winston Ma, an adjunct professor at New York University (NYU) Law School and former Managing Director of CIC, China's sovereign wealth fund, tol...
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06.02.26 - 19:18
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Mandelson lobbying firm sought work with Russia and China state companies, Epstein emails show (The Guardian)
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Peer and Benjamin Wegg-Prosser met disgraced financier before formal foundation of Global CounselBoss of lobbying firm founded with Peter Mandelson quitsPeter Mandelson's former lobbying firm sought work with companies controlled by the governments of Russia and China shortly after he left ministerial office, according to emails the disgraced former minister forwarded to the convicted child sex offender Jeffrey Epstein.The emails show how Mandelson and Benjamin Wegg-Prosser scrambled to drum up high-paying foreign business after co-founding Global Counsel even as Mandelson remained a member of the House of Lords. Potential clients included the Russian state investment firm Rusnano and the state-owned China International Capital Corporation, the emails suggest. Continue reading......
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06.02.26 - 16:12
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Tesla launches China AI training centre as self-driving race accelerates (SCMP)
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Tesla has begun operating a China-focused artificial intelligence training centre to enhance its cars' self-driving capabilities in the world's largest electric vehicle (EV) market, following Beijing's deregulation of the technology.
Grace Tao, vice-president of Tesla, told Shanghai-based financial news outlet Cailian on Friday that the centre had sufficient computing power to support development of assisted-driving features. However, she did not disclose details such as the centre's location or......
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