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News on Banking & Finance in China

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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 ...

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 ...

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