Banking & Finance « Week In China

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Banking & Finance

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Why four year-old ZhongAn Insurance has become an investor darling
Oct 20, 2017 (WiC 384)

Jack Ma, Pony Ma and Peter Ma could be termed China’s ‘thoroughbred trio’. The three tycoons share the same surname – Ma – which means ‘horse’ in written Chinese. So perhaps it’s no coincidence that investors seem ready to have a ...

Alibaba joins CK Hutchison in epayment JV
Oct 6, 2017 (WiC 383)

Often described as the financial capital of Asia, Hong Kong has fallen behind its mainland counterparts in implementing cashless payment systems. Jack Ma has even critiqued: “What is lacking in Hong Kong is the spirit of innovation, which ...

Postal Saving Bank plans homecoming via A-share market
Sep 15, 2017 (WiC 380)

It has long been a case that the postman doesn’t knock twice for some of China’s regional and rural commercial banks. Nearly every single one that’s listed in Hong Kong has been queuing for some time to go public in Shanghai, where ...

Famed “ghost town” now home to world’s largest Bitcoin miner
Sep 15, 2017 (WiC 380)

Ordos, a city in Inner Mongolia, grew in line with China’s thirst for coal. Now those plentiful pits have helped a new form of twenty-first century mining to prosper. Bitmain is the world’s largest miner of Bitcoin. Although its ...

Legend buys Luxembourg’s oldest private bank
Sep 15, 2017 (WiC 380)

Throughout its history, the Grand Duchy of Luxembourg has been subject to the push and pull of competing regional powers including the Dutch, Belgians, Germans and French. During the nineteenth century, in particular, the territory ended up ...

China outlaws virtual coin-based fundraising
Sep 8, 2017 (WiC 379)

When the world’s leading cryptocurrency, Bitcoin, was conceived it was intended to be a decentralised currency with no point of authority determining its worth. As cryptocurrencies have moved towards the mainstream, that autonomy has been ...

Are Ping An’s shares poised for a rerating?
Sep 8, 2017 (WiC 379)

As corporate threesomes go, they don’t get much stronger than the BAT troika of Baidu, Alibaba and Tencent. The three technology giants and their high-profile founders exert a very strong hold over the Chinese public’s imagination. It is a ...

Douban seeks to list its shares
Aug 18, 2017 (WiC 376)

Unlike most entrepreneurs, Yang Bo was not a commercially driven individual. In 2005, the former IBM consultant, often known as Ah Bei, founded Douban after returning to Beijing from the United States. He created an arts-focused social network ...

Shandong firms tangled in a web of debt
Aug 18, 2017 (WiC 376)

Xi Jinping has warned that financial stability is essential to China’s national security, so bank runs aren’t good news for the promotion prospects of the officials in the Shandong city that has seen one. Not that a disgruntled worker ...

Foreign rating agencies get full China access
Jul 21, 2017 (WiC 375)

The Chinese bond market may finally have to get to grips with its ABCs after the government announced that foreign credit rating agencies have been given permission to rate domestic bond issues. The move came on the same day China launched its ...

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