President Xi said the country needs to “seize the opportunity” afforded by blockchain technology. His speech also called for the creation of “Blockchain+,” a platform alluding to personal development such as education, employment and food and medicinal safety, among other basic needs. Since a 2017 decision by the People’s Bank of China, cryptocurrencies are banned in the country, although a digital renminbi is being developed by the central bank and likely to launch soon. // coindesk | TechCrunch
NetEase (NASDAQ: NTES)’s e-learning unit, Youdao (有道) made its debut on NYSE on Friday Oct 25, listed under the symbol “DAO”. Youdao priced its IPO shares at $17 per ADS, raising ~$95.2 million. The company is also raising another $125 million through the private placement of 7.35 million ordinary shares, to funds managed by Orbis Investment Management Ltd., for a total raise of $220.2 million. Founded in 2006, Youdao provides online dictionaries, online classrooms and language courses, with 100 million monthly average users in China in the first half of 2019. // marketwatch | 21jingji
Starbucks announced the new addition of Bar Mixato to its Starbucks Reserve Roastery in Shanghai. It features a full bar menu, which includes the global debut of 11 innovative coffee- and tea-based cocktails specially created and available only at the Shanghai Roastery. // Starbucks
