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News on Banking & Finance in China

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Why Chinese brokerages plan an ‘aircraft carrier’
Jan 10, 2020 (WiC 478)

The ‘twenties’ are shaping up to be a pivotal decade for the securities industry in China: one where it will become clear whether the global investment banks and brokers can truly cement themselves there. Also on the agenda: can their ...

Milking the moment

Infant milk producer Feihe’s IPO dogged by short-seller attack
Dec 6, 2019 (WiC 477)

Calling out financial skulduggery in Hong Kong is not for the faint-hearted. Dan David, co-founder of GeoInvesting – a due diligence firm that targets Chinese companies on overseas bourses – once said that he was getting intimidating emails ...

Show me the money

Bond defaults rattle investors, especially at firms with cash on the books
Dec 6, 2019 (WiC 477)

In the late 1970s Chinese newspapers were still setting type by hand. In order to print in a language with several thousand characters, more than 20 tonnes of lead were used each year for the mountain of metal the typefaces required. Computers ...

Open sesame (once again)

Alibaba goes back to Hong Kong for a secondary listing
Nov 29, 2019 (WiC 476)

The debut of Alibaba’s shares in Hong Kong in November 2007 was a record-smashing moment. The territory’s benchmark Hang Seng Index was already trading at historical highs when the Chinese e-commerce firm spun off its B2B ...

Beating the benchmark

Critics urge caution as more Chinese stocks join global indices
Nov 29, 2019 (WiC 476)

Stock market investors wanting to benefit from more exposure to Chinese equities might do well to buy some iron disulfide (pyrite) stones for their homes and offices. In feng shui terms, the stones are winners for attracting ...

Big banks get a telling off

State Council warns banks not to penalise smaller borrowers
Nov 29, 2019 (WiC 476)

China’s central bank identified 586 lenders and financing firms in the high-risk category in its annual financial stability report, which was published on Monday. That was about 13% of the total, up a little on last year. But aside from ...

A mini-Lehman moment?

Bank runs expose strains on China’s $41 trillion banking system
Nov 22, 2019 (WiC 475)

The wads of red Rmb100 bills stacked at the counters at a branch of the Yichuan Rural Bank last month were not meant to be part of the decor. As speculation about its insolvency ran high – especially when its chairman went missing – the cash ...

The bull is back

China’s A-shares have had a much better year
Nov 15, 2019 (WiC 474)

Bulls are auspicious in the financial world. But the animal at the Shanghai stock exchange – a copper sculpture – wasn’t regarded as much of an omen. The beast was dismissed for being too thin, with a lowered head that imparted a sense of ...

Mine, not yours

Why the management shakeup at Bitmain?
Nov 8, 2019 (WiC 473)

Two years ago when Travis Kalanick was forced to step down as boss at Uber, he told people that he was simply “Steve Jobs-ing,” dropping a not-so-subtle hint that he would mount a triumphant return to the ride-hailing giant he founded. If he ...

Coming to market

Despite threat from the Senate, Chinese companies still seek American IPOs
Nov 8, 2019 (WiC 473)

The history of Chinese companies going public in the United States began in October 1992, when Brilliance China Automotive became the first of its kind to debut on the New York Stock Exchange. Jiang Zemin, China’s leader at the time, is said ...

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