Regulator details Luckin fine for false advertising

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Regulator details Luckin fine for false advertising

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Luckin coffee is located in a store in Hangzhou, Hangzhou, Zhejiang Province, China, April 3, 2020. Luckin coffee announced on the evening of the 2nd that the sales volume related to the forgery transaction was about 2.2 billion yuan. As a result, Luckin coffee shares plummeted, down 75\%. (Photo by Long Wei / Costfoto/Sipa USA) | Costfoto/SIPA USA/PA Images

China’s State Administration for Market Regulation (Samr) has imposed a Rmb2m ($298,000) fine on each of Luckin Coffee’s two main operating entities in China and three other companies, the highest possible penalty under the country’s competition law.

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