Week #32: Milktea brand sells brekkie🧋, the peril of China’s news business 💀, Douyu CEO arrested 👮🏼| Following the yuan

Happy Thanksgiving!

Hello, and happy Thanksgiving to all who celebrate it!

Last year, I spent Thanksgiving in New Jersey and Christmas in Philly with my friends’ families (cue the awws). It's moments like these that highlight another similarity between the US and China - we like inviting random foreigners to join in family meals (?)

My feelings towards the holiday season often change based on where I am living. By 'feelings', I mean that special, warm, fuzzy sensation that can be easily triggered by songs or food, and then I don’t want to work but lie flat.

Don’t get me started on fireplaces.

For some time in my early 20s, Christmas was a big deal, and like many in the West, I’d set up a tree a month in advance, and happily put on the baubles I collected over the years. When I’m in the US from 2018-2020, I fully embraced the holiday seasons all year round thanks to the diverse cultures, and I made dumplings for my roommates and friend over CNY. When in China, late November to EOY now has transformed. It’s become a time when I feel excited about catching up with work when my counterparts are on holiday. I'd love to hear how you plan to spend your holidays!

In this issue, I delve into why an array of milktea brands are branching out into breakfast offerings and extending their operating hours. I examine how the arrest of a state-owned news CEO reflects a China-specific issue about new businesses and other sectors, and explore the implications of Douyu’s fall for esports and live-streaming.

1. Milktea brand sells brekkie 🧋

What happened: Lelecha, a popular tea drink brand, recently announced the opening of its first batch of breakfast shops and 24-hour stores across China. This move indicates a growing interest among tea drink brands in capturing the breakfast market of young consumers.