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Macau’s casino sector stunned by the arrest of its top junket boss
Dec 3, 2021 (WiC 566)

Different casino companies lay claim to the status of the largest gambling firm. Spanning at least 600,000 square feet in area, the WinStar World in Oklahoma wins the title by floor space, for instance. Las Vegas Sands used to be the biggest ...

Seoul searching

Korean chip giant faces a China quandary
Dec 3, 2021 (WiC 566)

Much has changed since 2006 when the former chief executive of SK Hynix said that the opening of the company’s first semiconductor foundry in Wuxi in China marked the “establishment of a global network linking South Korea, the US and ...

Fuel for the fire

State regulators turn to sectors beyond the internet in antitrust drive
Dec 3, 2021 (WiC 566)

Founded in 1862, Towngas is Hong Kong’s first public utility. Despite serving a market of just under eight million people, it has been the most profitable gas supplier in China for several decades. How? Hong Kong may get regularly championed ...

A car rental model

Li Shufu’s heir makes debut at Lynk launch event
Dec 3, 2021 (WiC 566)

What started out as a couch-surfing experiment for three school friends in San Francisco, later morphed into the multi-billion dollar home-sharing platform that we know today as Airbnb. The trio’s business idea has become a major disruptor for ...

In the driving seat

WiC’s exclusive interview with the founder and CEO of AI leader Horizon Robotics
Dec 3, 2021 (WiC 566)

Last week Week in China published the third update of our Top 50 China Unicorns ranking. Appearing again – with a valuation of $5 billion – was Horizon Robotics. Only six years-old, the Beijing-based firm is a leader in AI (artificial ...

Kardashian makes push into China while 9,000 store local firm goes bust
Dec 3, 2021 (WiC 566)

Kim Kardashian’s ‘shapewear’ brand Skims, like its founder, is no stranger to controversy. The range was initially called Kimono, until accusations of cultural appropriation in Japan prompted a change of heart. Kardashian also launched the ...

China paymasters

Paytm listing reveals Alibaba as key winner
Dec 3, 2021 (WiC 566)

On November 18 Indian fintech company Paytm completed India’s biggest ever IPO. But the main beneficiary wasn’t its founder Vijay Shekar Sharma or any of its local investors. Instead Ant Group and Alibaba were the biggest winners – ...

Behind the scenes

Why background checks on celebrities have suddenly become big business
Dec 3, 2021 (WiC 566)

The year 2021 has been rough for those in Chinese show business. According to Southern Weekend, at least nine high-profile stars have seen their careers experience a sudden demise after scandals. The slew of bad press that followed came amid a ...

Taught a tough lesson

Edtechs exit our Top 50 China Unicorns ranking after regulatory storm
Nov 26, 2021 (WiC 565)

Start-ups that reach $1 billion in value were once regarded as a rare breed. Today the unicorn story is much more commonplace. Indeed, unicorns are seemingly everywhere. Counts often vary but the upper-level estimate is there are at least 900 of ...

Feeling like they got skinned

Why China’s two top livestreamers went to war with beauty giant L’Oreal
Nov 26, 2021 (WiC 565)

Last August Tesla crossed swords with Chinese e-commerce platform Pinduoduo after it hosted a group-buying session offering the Tesla Model 3 for Rmb40,000 less than the retail price (a saving that equated to $6,621). Pinduoduo had partnered ...

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