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News on Banking & Finance in China

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A refreshing ale

CR Beer is a Hong Kong blue-chip once more
Nov 26, 2021 (WiC 565)

With the blessing of the British government, the Communist Party of China (CPC) set up a Hong Kong office for its Eighth Route Army in 1938. Camouflaged as a trading firm called Liow & Co, the unit helped to source funds and supplies for ...

The capital’s market

Beijing’s new bourse got off to a flying start on Monday when trading began
Nov 19, 2021 (WiC 564)

‘Shenzhen speed’ is often used to describe how the southern Chinese city gets things done at a rapid rate. Rival cities don’t think Shenzhen is doing anything particularly special. The country’s capital Beijing is taking pride in how it ...

Called to account

PwC faces investigation after complaint over Evergrande audit opinion
Nov 5, 2021 (WiC 562)

It has been a torrid time for auditing firms in China. Regulators have stepped up their oversight, fining a number of auditors after a spate of stock market frauds. Ruihua – formerly a leading auditor of A-share companies – was even closed ...

What’s next for Evergrande?

With the property firm’s finances in the news we look at prior restructurings
Sep 30, 2021 (WiC 558)

Until relatively recently the view from investors was that the ‘Beijing Put’ would always prevail in China’s financial markets, meaning that the government wouldn’t let large corporates fail (for our explantion of the Beijing Put see ...

Blue chip quality?

Our WiC30 A-Share Blue Chip Index is up 12.5% annually since its launch
Sep 24, 2021 (WiC 557)

Journalist Charles Dow founded his famous index on May 26, 1896, with the intention of creating a “window” on the stockmarket and the wider economy. He chose 12 companies that he thought representative of America’s burgeoning industrial ...

Liaoning Fangda emerges as an unlikely white knight for HNA’s airline
Sep 17, 2021 (WiC 556)

The Chinese bond market has been restive lately. Names that were deemed too big or too important to fail such as Founder (a chipmaker backed by Peking University) and Brilliance (the first Chinese car firm to go public in the US) are going ...

A tale of three cities

Why does China need a new stock exchange in Beijing?
Sep 10, 2021 (WiC 555)

London first got a stock exchange in 1698 but Beijing had to wait until 1918 for a bourse of its own. The Peking Securities Exchange was the first Chinese-owned stock market, with the slightly older Shanghai exchange set up a few years earlier ...

From bad to worse

Huarong reports record loss, then gets rescued
Aug 27, 2021 (WiC 553)

Wall Street executives might get the occasional death threat from livid investors, irate at losses in their portfolios. Over in China the risks for erring executives can be even more real: Lai Xiaomin, the former chairman of China Huarong Asset ...

Will it or won’t it?

Home service platform’s US IPO hangs in balance
Jul 16, 2021 (WiC 549)

According to China’s maternity custom of zuo yuezi, or literally “sitting the month”, new mothers must stay indoors to restore their energy. To that end, confinement nurses, known as yue sao, are hired to help prepare ...

Shanghai’s Nasdaq flourishes

More mega IPOs readied on two year-old STAR Market including Syngenta’s
Jul 2, 2021 (WiC 547)

When it revealed its tagline “the stock market for the next 100 years” back in the 1990s, the main bourse in the Nasdaq’s competitive sights was the NYSE. At the time it was hard but not completely implausible to imagine that stock ...

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