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News on Banking & Finance in China

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Welcome to Wall Street

More Chinese firms look past Washington’s delisting threat to IPO in the US
Jun 18, 2021 (WiC 545)

In an era increasingly defined by geopolitical tension and a push towards economic “decoupling” there is a paradox: never have there been more Chinese unicorns rushing to make an impression on Wall Street’s investors. Chinese issuers on ...

The Mongolian hot spot

Risks at regional lenders sees probes spread from Baotou to northeast
Jun 4, 2021 (WiC 543)

“The mountains are high and the emperor is far away” goes an old Chinese proverb, meaning that the power of the imperial court reached its governance limits in more remote regions. The same maxim seems to have applied at Baoshang Bank in ...

Go with the flow

Wealth Connect set to launch in GBA market
Jun 4, 2021 (WiC 543)

What happens when some of mainland China’s wealthiest households get new access to investment opportunities in Hong Kong? Hundreds of newly employed wealth management staff at Hong Kong’s banks are about to find out, with the launch of the ...

Will it be fourth time lucky for developer Sanxun?
May 14, 2021 (WiC 540)

In Chinese folklore the humblest carp became mighty dragons if they swam upstream and leapt over a waterfall on the steepest stretch of the Yellow River. The saying was said to be an inspiration for people from poorer backgrounds who were ...

A return to Wall Street

Cautious Chinese regulators are driving listing candidates to New York
May 7, 2021 (WiC 539)

Ask someone if they’d like a pleasant surprise and the answer is generally going to be ‘yes’. This is one of the main reasons why ‘blind box’ promotions have become so popular in China in recent years. It started off as a craze for ...

How might Beijing deal with Huarong’s crisis?
Apr 30, 2021 (WiC 538)

Some investors thought the worst was over for China Huarong in late January. That was when the former boss of the “bad bank” Lai Xiaomin was executed for financial crimes, including soliciting Rmb1.8 billion ($277 million) of bribes (see ...

Chinese unicorns push Hong Kong listings bonanza to new heights
Apr 16, 2021 (WiC 536)

What could have prompted the rapid depletion of nearly HK$1 trillion ($130 billion) in liquidity at Hong Kong’s banks in February. Capital flight? Collapsing confidence in the local economy? According to the Hong Kong Monetary Authority, there ...

A game changer?

Huawei bags payment licence, paving way for digital yuan rollout
Apr 9, 2021 (WiC 535)

Mobile payment licences are a relatively scarce resource in China. At present there are 237 in active status, thanks to a drought in new issuance since March 2015, and dozens revoked in conjunction with the clampdown on the once unruly ...

China’s ‘Sun King’ plots a stock market comeback with Asia Silicon IPO
Mar 19, 2021 (WiC 532)

Once seen as a sultan of China’s solar industry, Shi Zhengrong enjoyed his moment in the sun. In 2006 Forbes magazine titled him as China’s richest man after Shi’s solar panel firm Suntech Power became the first private-sector company from ...

Blank cheque billions

From Li Ning to Faraday Future, Chinese tycoons embrace SPACs
Mar 19, 2021 (WiC 532)

What do the following four-letter words have in common: spiv and scam, spar and spat? The answer is a fifth term, called a SPAC (special purpose acquisition vehicle), an increasingly trendy way to invest in the public equity market. Columnists ...

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