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News on Banking & Finance in China

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In-depth research

Citic and Haitong analysts are dismantling EVs
Jul 29, 2022 (WiC 595)

In early 2020, Muddy Waters published a research report accusing Luckin Coffee of inflating its 2019 revenue and user numbers. The short-seller claimed that it had hired over 90 full-time and more than 1,400 part-time investigators as they pored ...

Held to account

Angry savers take to the streets in Zhengzhou
Jul 15, 2022 (WiC 593)

Is it a sounder investment to put money into a bank’s savings account or buy the lender’s shares? Take ICBC: China’s largest bank by market value offers 1.75% interest rates on one-year term deposits, according to its website. But the ...

Swiss bourse on a mission to bring more Chinese firms to Zurich
Jun 30, 2022 (WiC 591)

“When in doubt who will win, be neutral,” a Swiss proverb supposedly advises. The maxim has served the Alpine nation well and there’s been more than a hint of it again this year as the SIX Swiss Exchange prepares to welcome a group of ...

Bank scandal prompts ‘health code’ row
Jun 24, 2022 (WiC 590)

In the 2008 movie The Dark Knight, Batman creates a virus that infiltrates every cell phone in Gotham, allowing him to spy on the city’s 30 million people. Over in China, mandatory jiankang ma, or ‘health codes’ on ...

Ant on the march again

Fintech giant reveals new director sparking renewed talk about its IPO
Jun 10, 2022 (WiC 588)

“High liability vs low benefit” was the headline in the Shanghai Daily when the newspaper reported on an exodus of independent directors from Chinese firms last December. At least 40 of them had resigned in a month after a local court ...

Hong Kong’s allure

Didi delists from NYSE; HKEX boss goes to Davos
May 27, 2022 (WiC 586)

Is a situation impassable or impossible? It turns out to be both in Alice in Wonderland in the Disney film, when the cartoon doorknob tells Alice that she is too big to get through the entrance. The conundrum is similar for China’s largest ...

A trio of listings

Zhihu, among others, eyes Hong Kong share sales
Apr 22, 2022 (WiC 581)

When Zhihu went public on the New York Stock Exchange a year ago, the Quora-like Chinese online content platform priced its shares at $9.50, raising $523 million from the IPO. The company attracted e-commerce giants Alibaba and JD.com, ...

A China private equity play

Money manager PAG eyes $2 billion Hong Kong IPO in choppy markets
Apr 8, 2022 (WiC 580)

If you look at the firm’s history, we’ve been contrarian, we’ve been innovators, we’ve been kind of West Coast,” Jim Coulter, TPG’s co-founder, once told Bloomberg. Managing assets worth $114 billion, or about 13% of market leader ...

Exchange of views

Is a deal afoot over delisting threat faced by Chinese stocks in New York?
Mar 18, 2022 (WiC 577)

When former steam engine stoker Harland Sanders opened a roadside restaurant in Kentucky during the Great Depression, he could never have imagined a day when his fried chicken would become a geopolitical battleground. A century later, that is ...

The future of money is now

Federal Reserve looks to play catch up with China’s digital currency
Mar 4, 2022 (WiC 575)

Almost 100 countries are evaluating central bank digital currencies (CBDCs), the IMF reported last month, with a pioneering group starting to roll them out. But maybe it’s inevitable that reporting on these efforts is often shaped by the ...

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