This article only represents the author's own views.

China’s booming coffee business has made it the second most important market for global giant Starbucks (SBUX.US), behind only its home U.S. market. But it’s also providing fertile ground for new and innovative players catering to local preferences. One of the latest in that group is Shanghai-based-boutique chain Manner Coffee, which, together with other similar homegrown names, are reshaping country’s coffee-drinking landscape.

This year alone has seen 16 financing events in China's coffee sector, with more than 5 billion yuan ($784 million) pouring into the space. Major fund recipients include Manner, M Stand and Seesaw, which have collectively raised more than 3 billion yuan. Even the scandal-tainted Luckin Coffee (LKNCY.US), which was delisted from the Nasdaq last year after being exposed for massive fraud, is once again attracting investor attention.