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News on Banking & Finance in China

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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 ...

Cards on the table

China’s digital currency challenges Visa at Beijing Olympics
Feb 18, 2022 (WiC 573)

Gold will always be the ultimate goal for athletes at the Olympic Games. But competitors in Beijing this month have another currency to consider for the first time– the digital yuan (or e-CNY). The new currency is being offered as part of ...

Pigs in the middle

Yurun creditors agree on bold restructuring plan
Feb 11, 2022 (WiC 572)

When a major private sector firm goes under in China, investors often turn their attention to the health of its crosstown counterparts. In 2012 we reported on how troubled borrowers had created financial contagion in Zhejiang province, thanks to ...

Why Bytedance shut its investment arm down
Jan 28, 2022 (WiC 571)

Turning 10 years-old in March and valued at around $400 billion, Bytedance is the world’s most valuable unicorn. And it has always made plain its ambitions to take on other titans in the internet sector, most notably Tencent. But these days any ...

The stability trade

How will the A-share market and Hang Seng Index perform in 2022?
Jan 7, 2022 (WiC 568)

The Hong Kong stock market was humming along in bullish mood in late 2020, following a 17% rebound in the Hang Seng Index (HSI) in the fourth quarter of the year. The rally was fuelled by hopes that more of the Chinese internet heavyweights would ...

Ant makes a further strategic retreat, closing Xianghubao
Jan 7, 2022 (WiC 568)

Ten years ago Muhammad Yunus’ Grameen Bank was a topic for widespread debate in the Chinese market. Entrepreneurs and government officials alike hoped to copy the Nobel Peace Prize winner’s model as part of the wider effort to tackle poverty. ...

Coining the cash

Binance keeps growing, despite China’s crypto crackdown
Dec 10, 2021 (WiC 567)

Tweets from Elon Musk have a history of sparking sudden moves in share prices, not just for his own company Tesla but also in sectors like cryptocurrency, where prices soar, or slump, in response to his pronouncements. So another of his ...

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