China News Service, Beijing, July 31 (Reporter Wang Qingkai) China's State Administration for Market Regulation said on the 31st that it is currently investigating Ruixing Coffee's suspected fraudulent transactions and other unfair competition behavior.
In April of this year, Ruixing Coffee "disclosed" financial fraud, and the State Administration for Market Regulation quickly established a task force to investigate it.
The investigation revealed that in order to gain a competitive advantage, Luckin Coffee (China) Co., Ltd. and Luckin Coffee (Beijing) Co., Ltd. used false transactions to produce false performance and publicize unfair competition behavior, and related third-party companies had false help. Propaganda of unfair competition.
The State Administration for Market Regulation and the local market supervision authorities are currently investigating Ruixing Coffee (China) Co., Ltd., Ruixing Coffee (Beijing) Co., Ltd., and related third-party companies in accordance with the relevant provisions of the "People’s Republic of China’s Anti-Unfair Competition Law." Deal with illegal acts, maintain fair competition in the market, and protect the legitimate rights and interests of operators and consumers. (Finish)