advertisement advertisement advertisement Amid China's slowing economic growth and venture investments , innovation within the world's largest country is morphing. The focus is shifting into emerging third-, fourth-, and fifth-tier cities and bubbling up from there. China remains the leader in what's known as "new retail," and the competition—and corresponding new initiatives—within even such categories as digital video has been impressive. Although it's not yet clear how the COVID-19 coronavirus outbreak will impact the specific financial health of these companies and the larger Chinese innovation economy overall, the fact remains that the ideas it's generated thus far are likely to remain highly influential around the globe. advertisement advertisement 1. Luckin Coffee For brewing the tech-centric chain restaurant of the future Luckin Coffee launched its chain of coffee shops in October 2017, and since then it's grown remarkably fast, so fast that Luckin surpassed the number of Starbucks outlets in China by the end of 2019, with more than 4,500 outlets. The chain's distinctive, digital model allows it to learn where its customers are and proliferate its small, pickup-only coffee counters as close to them as possible. Luckin's focus on data ripples through the rest of its business, informing its decision-making… Read full this story
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