The kettle is at the
bubble.
壶里的水在沸腾。
The water
bubbled and foamed.
水冒着泡儿。
When the
bubble burst, demand collapsed.
当泡沫破裂时，需求崩溃。
Their hopes of success have burst like a
bubble.
他们成功的希望已经成为泡影。
In early 2021, the company quietly emerged as the single best-selling bubble tea brand in China with annual revenue of 6.5 billion yuan and a market valuation of 20 billion yuan, beating premium bubble tea brands Heytea and Nayuki.
2021年初，该公司以65亿元的年收入和200亿元的市场估值，击败高端泡泡茶品牌Heytea和Nayuki，悄然成为中国最畅销的泡泡茶品牌。
Chinese leading bubble tea company Nayuki made its debut on the Hong Kong stock exchange on Wednesday, which made it the country's first listed milk tea chain.
The magic translate, for instance, allows users to simply press a floating bubble on the sentence to see the translation after copying the text while browsing, messaging or using any other apps.
During the last few months, the company's market value has risen by over 200 billion yuan, sparking bubble concerns.
Yu said that Fonterra also supplies to many business-to-business companies, including bubble tea shops, cafes and restaurants.
In the past few years, the bubbles have mainly come from real estate, and now the internet bubble has weighed even more.
The reason for the bubble is simple: people swarm into a field, use similar technology, copy ideas from each other, compete for traffic until they get the favor of capital, and then start a new round of cash burning.
"What is interesting in China is that (apart from the coffee channel), China has the tea channel, the bubble tea business," Petersson said.
For instance, shoppers snapped up 200,000 cups of drinks from bubble tea maker CoCo via Koubei's app in the first 30 minutes, said Irene Hsu, the company's branding director.
"Back then, there was an internet bubble burst, so it was very difficult to raise funds for a while.
"China's bike-sharing bubble has been burst, and we'll see a wave of reshuffling and consolidations in the industry that took the nation by storm during the past two years," Wang noted.
China saw its first trend of milk tea at the beginning of the century, started mostly by business people from Taiwan, where the bubble tea is believed to have been invented.
The most immediate cause of the 2008 financial crisis was the bursting of the US housing bubble inflated by banks’ reckless lending, sometimes without even requiring a down payment, in an overheated housing market.
Startup owners and investors alike are now rushing to list before the latest "internet bubble" bursts, said a director at a Shanghai-based research firm on cross-border acquisitions, who requested to stay anonymous.
Loob's chief executive officer Bryan Loo told reporters after attending the signing ceremony that its first home-grown bubble tea brand Tealive will be opened in Shanghai on September before expanding to various cities in China.
Bubble tea consumption in particular, continues to rise at a high rate each year.
"Moutai's valuation bubble, and the fluctuation of the market, as well as the decrease of the growth rate, could be the signals of the end of the booming growth of the Chinese liquor sector and Moutai, but that remains far off. "
[Photo by Wei Xiaohao/China Daily]ZHENGZHOU — The co-founder of ofo Inc, China's biggest bike-sharing startup, sees a bubble in the industry but says his multibillion dollar business has the scale needed to survive any bust.
"There will be a bubble for the industry," he said.
Real estate investment constitutes a significant part of fixed-asset investment, and challenges arising from the bubble in the real estate sector call for urgent resolution.
"Additionally, China's property and asset price bubble appears less severe, potentially leading to a softer correction.
From liquor-laced latte to pop star-tribute bubble tea, Chinese coffeehouse and teahouse brands are pushing the boundaries of China's beverage market with a firm grip on upgrading consumption trends.
The latest campaign from teahouse chain Nayuki -- a new bubble tea drink paying tribute to Chinese pop star Jay Chou -- sold 1.46 million cups on the first day.
Koo's speech shed light on the economic challenges China now faces, reminiscent of Japan's experience in the 1990s when the bursting of the real estate bubble led to a decline in asset values and an increase in liabilities for both businesses and individuals.
In Japan, asset bubble bursts resulted from market speculation under hard constraint from balance sheets.
As a result, the soft constraints on financial balances have fueled and inflated the bubble.
As explained by Rupert Hoogewerf, chairman and chief researcher of Hurun Report, such drastic contraction can be largely attributed to the sluggish performance of the stock market last year, which was a combined result of interest rate hikes, the appreciation of the US dollar, the popping of a COVID-driven tech bubble and the continued impact of the Russia-Ukraine conflict.
In sharp contrast, excessive inflation will force the US, the UK and the EU to adopt strict tightening monetary policies, which may also have negative effects such as puncturing the global asset bubble and triggering an international debt crisis.
"－has popped up in popular media discourse after the recent big-ticket regulatory changes (like antitrust/anti-monopoly measures and steps to preempt a possible debt bubble in property).
How an economy recovers from an economic shock determines how robust its recovery will be, the newspaper said, adding that the Chinese government's post-pandemic recovery measures are more targeted, and thus unlikely to fuel another credit bubble.
However, a plan to open a quarantine-free air travel bubble between Singapore and Hong Kong last month was abandoned at the eleventh hour, leaving questions over how easy it will be for Singapore to reopen borders without widely-available vaccines.
Zhu, at SAIF, author of China's Guaranteed Bubble, which examines risks in the country's financial system, said attempts to isolate the nation will recede as its economic importance rises.
The "travel bubble" project jointly launched by Hong Kong and Singapore, for example, allows eligible travelers to enjoy two-way, quarantine-free travel after the COVID-19 test.
Some analysts have been quick to draw comparisons with Japan's housing bubble that burst in 1991.
According to Koo, after Japan's housing bubble burst, Japanese companies shifted their focus from profit maximization to survival maximization, and chose to repair the balance sheets through aggressive debt repayments.
Besides, Japan's housing bubble mainly covered six major metropolitan areas and was concentrated in commercial real estate, while in China's current round of housing price adjustment, small and medium-sized cities have seen the biggest changes in residential property prices.
The recent decline in China's real estate market is not only due to the bursting of its housing bubble, but also due to the over-regulation and the inapplicability of some controls to the regulated situations.
Having savored tea for over 2,000 years, Chinese tea enthusiasts are now welcoming innovations in this age-old beverage, with trends ranging from fruit tea and bubble tea to blended drinks like chai latte, sparking a thriving market.
Some analysts have recently expressed a view that China may face the risk of a balance sheet recession if its real estate bubble bursts.
A balance sheet recession is usually triggered by the bursting of an asset-price bubble, which China has not experienced so far.
"Currently, China's healthcare sector is entering a crucial stage where the industry bubble is gradually deflating and the industrial structure is readjusting.
"As the fashion of new-style tea brews swept across China, dark tea found new clients in big cities: the many bubble tea shops vying for the hearts of young urbanites with innovative recipes.
"I like bubble tea but don't want to get fat, so I'm attracted to the 'fat-scraping' effect of dark tea, as well as its special taste," said Peng Hongzhi, a 37-year-old Changsha resident and fan of dark tea-based bubble tea.
"We wish to introduce dark tea into the lives of young Chinese in a more fashionable manner," said Liu, who has opened four outlets using dark tea leaves to make bubble tea and fruit tea.
China may signal more policy adjustments to stabilize the real estate market as a regulatory official recently noted that "bubble signs and the financialization trend in China's real estate sector have been substantially reversed", experts said.
The 41-year-old Thai is a die-hard fan of the sweet, cool beverage, also known as bubble tea, which is popular among young people in her home country and many other nations in Southeast Asia.
We love colas, juices and bubble tea.
With its burgeoning demand for bubble tea, Southeast Asia shares close cultural bonds with China through trade and people-to-people exchanges, resulting in the region becoming an initial destination for Chinese brands venturing overseas.
According to the consulting services company Fortune Business Insights, the global market for bubble tea was $2.02 billion in 2019, and it is projected to reach $3.39 billion by the end of 2027, with a compound annual growth rate of 7.2 percent during the forecast period.
However, the COVID-19 pandemic had a negative impact on growth of the bubble tea market.
The production of bubble tea was also affected by restrictions imposed on imports and exports, and a shortage of labor.
"More bubble tea drinkers are now looking for better value, and young people in China view drinking the beverage as a social activity, during which they sit and chat with friends in spacious outlets where the drinks are sold.
Drinking bubble tea is not just a satisfying experience, but also an expression of status, a sign of taste and a willingness to embrace new things.
Moreover, the number of bubble tea stores has risen in the US and the United Kingdom, as consumers switch to non-alcoholic or low-alcohol drinks, including tea-flavored beverages, the report said.
I really miss Coco's mango-flavored bubble tea," she added.
A bubble occurs when companies are overvalued by investors.
According to a report by consultancy Deloitte, many investors, especially corporate venture capitalists, see the post-pandemic era as the beginning of a multiyear opportunity rather than a bubble in investing in healthcare.
The first batch mentioned in the standard covers milk teas, milk-capped teas, fruit teas, bubble teas and chilled teas.
Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said during a State Council Information Office news conference on March 2 that "bubble and financial" trends in China's real estate market experienced fundamental twists last year.
"Since the real reason why capitalists are hyping up metaverse has been exposed, the Chinese authorities should remain calm and prepare to effectively deal with a potential metaverse bubble," he said.
Bubble tea chain Nayuki Holdings Ltd raised HK$5.09 billion ($656 million) after pricing its Hong Kong initial public offering near the top of its suggested range.
The top-of-the-range pricing values the bubble tea chain at about $4.38 billion, up from the $2 billion valuation after its previous funding round.
The consultancy identified at least seven major tea players that produce freshly-made bubble teas, or teas with cheese or fruit toppings, which have received multiple rounds of venture capital or private equity investment since their debuts.
Though the category of carbonated water has existed for many years, it was not until recent years that consumers in China started paying more attention to bubble water products due to the massive marketing campaign by Genki Forest, a new Beijing-based beverage company, said Zhu Danpeng, a food and beverage analyst in Guangzhou, Guangdong province.
Eyeing the strong growth of the bubble water sector, which grows at about 20 percent annually on average, according to Zhu, Hangzhou, Zhejiang province-based beverage giant Nongfu Spring invested in the sector in an effort to drive up its profits when its main businesses－bottled water, tea drinks and juice－have seen declines of various levels.
"Last year, the number of consumers who bought bubble teas and related potables exceeded 340 million, and sales exceeded 100 billion yuan.
"There might be a bubble among the orders because suppliers in all links placed more orders than they actually needed after seeing the growing market," Zheng said.
Plastic varieties can take centuries to decompose into particles, while newer versions are designed to quickly biodegradeFor bubble tea buff Ding Yi, it's the third time this week that his drink tasted like wet cardboard, with the culprit being a paper straw.
I'm considering switching to bubble tea stores that offer polylactic acid straws, which I heard have less impact on taste compared with paper equivalents," Ding said.
"Back in 1996, when I was an oil sector worker in Guangdong, bubble milk tea became popular there.
China's home prices soared in 2016 when speculators took advantage of favorable lending policies to buy homes via leveraged borrowing, contributing to what many had feared as a "housing bubble.
Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said in a recent interview that the country has successfully reined in the potential of a housing bubble, with growth in real estate loans dropping by 12 percentage points in 2019 from 2016.
As Beijing is deeply concerned that a property bubble could be damaging to the real economy and the financial sector, top leaders once again vowed to stick to their tightening stance on the property sector at the Politburo meeting, said Lu Ting, chief China economist at Nomura Securities.
Milk tea maker Nayuki has launched limited-edition 5-liter bottles of bubble tea.
Traditionally, qingtuan features a red bean paste filling, but Heytea has combined two of its popular tea flavors in the rice ball－Ovaltine and mashed taro with bubble, and cheese with soyabean milk.
He said China's bike-sharing business proved to be a bubble for some players, and brought about a shakeout, consolidation and rationalization in the market during the past three years.
The People's Bank of China, the central bank, has warned that certain practices in sales of sneakers could lead to a bubble and even financial risks.
Also, REITs provide the public with a new investment channel that can strike a balance between safety and profitability, helping reduce individual investment in the housing market and prevent a price bubble from building or bursting, Xiao said.
The country's expanding middle class is demanding tasty, sweet food, drinks such as bubble milk tea and luxury chocolate.
The price for tea drinks – among them fruit, cheese and bubble milk flavors – has been on the rise since the third quarter of 2017.
With 175 stores globally serving some 2.5 million customers, Malaysian bubble tea giant Tealive will soon have its flagship store in Shanghai up and running.
As for the view that the capital market is to squeeze out the bubble in the NEV market, some agencies have reassured there is little need for worry, saying it is just short-term fluctuations.
"Till now, China's central government didn't give a clear signal of supporting metaverse development," Sun said, adding that Chinese authorities are expected to effectively deal with a potential metaverse bubble.
Opponents warned of another bubble in the making, like that in cryptocurrencies, saying NFTs will bring in more speculators and disrupt the digital art market.
"We have avoided the risk of a massive virtual asset bubble," said Pan.
Second, before China started deleveraging in its real estate sector, the accumulative growth of asset prices was relatively small, unlike many studies overseas claiming that China is now like Japan in the 1990s with a large real estate bubble.
A significant increase in credit and extreme optimism led to the formation of Japan's economic bubble in the 1980s, which later ballooned due to a loose monetary policy, the pro-cyclical effect between financial and economic activities, and a sustained rally in land prices prompted by the land tax system.
In 1990, due to a tightening monetary policy and sharp declines in land and stock prices, the bubble began to pop.
This assessment is based on the analysis of the Japanese economy before and after the bursting of its economic bubble in the 1990s, and a discussion of the basic logic of "balance sheet recession" and relevant policy measures.
Unlike Japan's heavy reliance on the private sector to increase leverage and expand domestic demand prior to the bubble, China has not resorted to massive stimulus.
In mid-May, the index topped 30,000 points, the highest level since Japan's economic bubble burst in 1989.
Orlik spoke at the event "Will the Bubble Still Not Pop?
He published the book China: The Bubble That Never Pops in 2020, suggesting that China's economy and financial system are "more resilient than critics in the West give them credit for", and China's economic and financial policymakers are "more innovative, more ingenious at better solving problems than critics here in Washington, DC, or on Wall Street give them credit for".
"The bubble that never pops still is not going to pop," Orlik said.
Now we use various indicators to measure whether there is a bubble in real estate.
"Any delay in tapering may pose greater risks to the market, which will boost US inflation expectations and exacerbate the bubble risk in the commodity and real estate markets.
We haven't seen anything like this since the Nasdaq bubble in '99," said Gary Dvorchak, managing director of Buleshirt, an industrial leader providing IPO advisory, investor relations and other financial services.
And policymakers' concerns about property bubble will also call for tighter monetary policy this year, meaning a normalization of the policy, Zhang added.
The speculative retail trading had raised broad concerns over a bubble and financial stability, causing Wall Street to suffer their worst week since October in the final week of January.
But in this year when there is extraordinary foreign demand for Chinese assets, it is critical that inflows of foreign capital not be allowed to drive inflation or create an asset bubble in China.