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News on Banking & Finance in China

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Robert Kuok’s food firm is now the most valuable ChiNext stock
Oct 23, 2020 (WiC 515)

Two years before founding his agribusiness conglomerate Wilmar International in Singapore, Kuok Khoon Hong – nephew of Malaysian tycoon Robert Kuok – had already sought to upend China’s edible oil market. Since 1991, when Kuok launched the ...

Brokering a deal

Ex-Citic team acquires Sinolink Securities
Oct 9, 2020 (WiC 514)

According to The Classic of Mountains and Seas, or Shanhaijing, a text on ancient creatures and sacred geography that has circulated in China for thousands of years, a bashe is a giant snake capable of swallowing an ...

Running with the herd

Why a cattle firm has come to epitomise ChiNext’s bull market run
Sep 18, 2020 (WiC 511)

After gaining nearly 40% so far this year, Shenzhen’s ChiNext is one of the best performing stock markets across the world’s major economies. And one of the companies that has come to symbolise the Nasdaq-style board’s bull run is – ...

Taking the strain

Investors bet on China’s robotics future
Sep 11, 2020 (WiC 510)

Aside from qualified engineers most people may not be familiar with ‘strain wave gearing’, a type of speed reducer for precise positioning applications. It was invented in 1955 in the US and at first nobody was sure how to put it into use. ...

The bleak outlook for China’s ATM makers
Aug 28, 2020 (WiC 508)

The automatic teller machine was the greatest banking invention ever, former Federal Reserve Chairman Paul Volcker once remarked. The first ATM machine to be installed in China appeared in 1987 in Zhuhai’s special economic zone. That was ...

Stars of the STAR Market

How is China’s Nasdaq-style board faring a year after its launch?
Jul 31, 2020 (WiC 506)

Launched in November 1999, Hong Kong’s Growth Enterprise Market was the first attempt to create a China-focused answer to Nasdaq. Hopes were high that it could replicate the US bourse’s success, turning lossmaking start-ups into ...

Tomorrow: yesterday’s firm?

Troubled financial group fires back at ‘nationalisation’ push
Jul 24, 2020 (WiC 505)

Anbang Insurance and Tomorrow Group were two of China’s fastest growing financial powerhouses – that is, until they fell foul of the regulators in the aftermath of the infamous stockmarket meltdown of 2015. The pair have since dwindled in ...

Bigger is better

The recent rally in China’s A-shares anticipates a landmark regulatory shift
Jul 17, 2020 (WiC 504)

In 1933 Franklin Roosevelt signed an emergency act – commonly known as Glass-Steagall – to restore confidence in an American financial system that had been battered by the Great Depression. One important outcome was the separation of ...

Heading for the exit

Sina to leave Nasdaq in another sign of Chinese firms departing the US
Jul 17, 2020 (WiC 504)

In August 1999 China.com was the first ‘Chinese internet stock’ to go public in the US. It had almost everything going for it in order to be successful in the dotcom boom. Trading under the symbol “CHINA”, the Hong Kong-based firm owned ...

China’s biggest ever gold scam rocks the already shaky trust sector
Jul 10, 2020 (WiC 503)

A group of Chinese trust companies have just had the shock of their lives at the hands of Nasdaq-listed Kingold Jewelry. Some 83 tonnes of gold bars that they had accepted as collateral against Rmb20 billion ($2.8 billion) in loans to Kingold ...

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