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News on Banking & Finance in China

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Banking on change

360 Finance invests in Tianjin lender, ahead of Hong Kong listing
Jun 19, 2020 (WiC 500)

One of Wen Jiabao’s parting shots as Chinese prime minister was aimed at the country’s largest state-owned firms. He claimed in 2012 that the SOEs “make profits far too easily” and called for the breaking up of their monopolies. A year ...

Could tense Sino-US relations be a blessing in disguise for the HKEx?
May 29, 2020 (WiC 497)

“You will only begin to earn their respect after you strike the opening bell of the New York Stock Exchange.” This is one of the quotes from American Dreams in China, a film based loosely on the story of New Oriental, an education ...

Digital destiny

China’s central bank tests new currency plan
May 1, 2020 (WiC 493)

During testimony last year to the United States Congress on Libra, Facebook’s proposed digital “stablecoin”, Mark Zuckerberg raised the threat of a new leader in financial technology. “China is moving quickly to launch a similar idea ...

Jumei founder finally delists his firm in the US
Apr 24, 2020 (WiC 492)

Venture capitalists sometimes deploy personality tests to distinguish between those entrepreneurs that are acceptably optimistic and those that are completely delusional. For Chen Ou, the flamboyant co-founder of Jumei, the e-commerce site ...

Another short story

More fraud allegations cast shadow over US-listed Chinese firms
Apr 17, 2020 (WiC 491)

For some of those Chinese companies listed in the United States, 2011 was a torrid year. Short-sellers such as Muddy Waters were turning the spotlight on financial chicanery at previously nondescript firms. The exercise ended up forcing the likes ...

Buying the family firm

The ‘smart money’ in Hong Kong thinks valuations are now attractive
Apr 10, 2020 (WiC 490)

Investment rule number one: only put money into things that you understand. Rule two: when the market gets tough, stick even more strictly to rule number one. The assets that most business tycoons are most familiar with are the shares of their ...

Stocks linked with Wuhan’s revival get a boost
Apr 10, 2020 (WiC 490)

Xiong Juan, a 39 year-old hairdresser in Wuhan, has never been busier. In the past three weeks she has been travelling around Hubei’s provincial capital cutting the hair of people who had been homebound for two months. On a good day she could ...

On borrowed time

China’s banking sector braces for the impact of another round of stimulus
Apr 3, 2020 (WiC 489)

Despite a battle of their own with mounting bad debt and poor profitability in recent years, China’s banks have been given another onerous task: helping to soften the economic shock from Covid-19. The country’s lenders were asked to ...

Hitting a brick wall

Chinese developers run into trouble in the bond markets
Mar 27, 2020 (WiC 488)

China’s real estate firms started 2020 on a high. A record number of corporate defaults last year (see WiC481) didn’t seem to have dampened investor enthusiasm for their bonds. In the first two weeks of the year at least 10 listed property ...

Filling the gap

China’s first ‘private sector petrol station’ IPO raises questions
Mar 13, 2020 (WiC 486)

We all know the story of David and Goliath (though in Malcolm Gladwell’s version David was always the likelier victor). Over in China, Hunan Heshun Petroleum, a private sector petrol station operator, is the underdog that has sought to take on ...

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