Shares of Luckin Coffee, a fast-growing rival to Starbucks in China, rose 20 percent in their US stock market debut Friday.
The Chinese company, which opened its first store in Beijing less than two years ago, has 2,370
locations and plans to surpass the 3,700 stores Starbucks has in China by the end of the year.
It brought in $125 million in revenue last year, but spent much more than
that on coffee beans, store rent and other costs. Last year, it lost $475 million.
Most of Luckin’s stores are small, have few seats and are used mainly as a place to pick up mobile orders.
It also offers delivery in 30 minutes and promises a refund for delays or spilled drinks.
of overall water consumption, reducing agricultural, industrial and urban use and technological innovation. In the meantime, two measu
res will deepen reform in establishing the water price and cultivate a competitive service ma
rket. The plan encourages private capital to join and expand financing channels.
China has a water shortage, the commission said on its website
. Each year, the country faces a shortfall of 50 billion cu m of fresh water. In the mea
ntime, public awareness of conserving water and preventing waste has to be improved.
In 2017, water consumption per $10,000 in GDP was 500 cu m, 66.6 perce
nt more than the average number for developed economies, the commission said.
China’s water resource per capita is only one-third of the world’s aver
age, according to the Zhongshang Industrial Research Institute’s website chnci.com. Regi
onal disparity has made it worse. Southwestern and southern parts of the country have rich
conference in March that a new round of central environmental inspectio
ns would be rolled out across the country in the next three years, starting this year, after the ap
proach proved successful in addressing environmental violations.
He said the new round will also cover central government bod
ies and State-owned enterprises, and inspectors will spend ano
ther year revisiting all areas to see whether or not the violations they found have been rectified.
The number of intellectual property rights cases handled by Chinese courts increased signif
icantly in 2018, showing that the country is increasingly aware of its importance in pursuing high-quality ec
onomic development, the Supreme People’s Court said on Monday in a white paper.
Courts at all levels accepted a total of 334,951 IPR cases in 2018, up
by 41.2 percent from the previous year, according to the court, which released the wh
ite paper – Intellectual Property Protection by Chinese Courts in 2018 – in Hefei, Anhui province.
Jiangsu, Zhejiang and Guangdong provinces, together with Beijing and Shanghai, rema
in the top contributors of cases, with the number of first-instance civil cases accepted by local courts rea
ching a combined 185,337 and covering 65.4 percent of the national total for IPR.