UK-based CBD and nootropics drinks business Common Drinks is winding up, its founder Julian Liban has confirmed. Liban, who is also Common's majority shareholder, told Just Drinks plans to rebrand and expand to the US collapsed. "We had been working on a pivot for nine months with full board support," Liban said. "The new project involved a full rebrand and a huge talent backing us. We had recruited a US-based CEO, had big investors lined up and were close to bringing it all together before the deal co ...

Core Insights - Shenzhen's economic vitality is driven by its innovative enterprises, which have evolved from traditional manufacturing to high-tech industries over 45 years [1][3][10] - The city has become a hub for unicorn companies and has seen a surge in new sectors such as AI, robotics, and new energy [5][9][10] Group 1: Economic Contributions - The private sector contributes over 50% of Shenzhen's tax revenue, nearly 60% of its added value, and over 90% of employment [1] - As of June 2023, Shenzhen has 425 A-share listed companies with a total market capitalization of 10.39 trillion yuan, ranking third and second among major cities in China, respectively [1] Group 2: Innovation and Industry Evolution - Shenzhen's transformation from a fishing village to a global tech hub began with the establishment of the Special Economic Zone, which encouraged innovation and attracted foreign investment [3][4] - The city has seen the emergence of numerous "first stocks" in various sectors, including new tea drinks and humanoid robots, showcasing its innovative spirit [5][6] Group 3: Unicorn Companies and Investment - Shenzhen is home to 37 private unicorn companies, ranking third in the nation, with a significant number of these companies established in recent years [7] - The city has witnessed a rapid increase in funding for emerging tech companies, with several unicorns completing substantial financing rounds [5][6] Group 4: Strategic Emerging Industries - Shenzhen's strategic emerging industries have seen a 10.5% increase in added value, accounting for 42.3% of the regional GDP, with significant growth in AI, robotics, and new energy vehicles [9] - The city has implemented policies to support the development of strategic emerging industries, including the establishment of new industry clusters [8][9] Group 5: Future Outlook - Shenzhen's commitment to innovation and long-term investment strategies positions it as a potential cradle for the fourth industrial revolution in China [10] - The city aims to cultivate 20 strategic emerging industry clusters and actively develop 8 future industries, aligning with global technological trends [10]