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News on Banking & Finance in China

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The bull is back

China’s A-shares have had a much better year
Nov 15, 2019 (WiC 474)

Bulls are auspicious in the financial world. But the animal at the Shanghai stock exchange – a copper sculpture – wasn’t regarded as much of an omen. The beast was dismissed for being too thin, with a lowered head that imparted a sense of ...

Mine, not yours

Why the management shakeup at Bitmain?
Nov 8, 2019 (WiC 473)

Two years ago when Travis Kalanick was forced to step down as boss at Uber, he told people that he was simply “Steve Jobs-ing,” dropping a not-so-subtle hint that he would mount a triumphant return to the ride-hailing giant he founded. If he ...

Coming to market

Despite threat from the Senate, Chinese companies still seek American IPOs
Nov 8, 2019 (WiC 473)

The history of Chinese companies going public in the United States began in October 1992, when Brilliance China Automotive became the first of its kind to debut on the New York Stock Exchange. Jiang Zemin, China’s leader at the time, is said ...

Prometheus bound

Top tycoon’s son sees his fund’s assets frozen by a Shanghai court
Nov 1, 2019 (WiC 472)

Could Wang Sicong, the son of one of China’s richest men, soon feature on the Supreme Court’s list of bad debtors? That was the question posed online after it emerged that a court in Shanghai had frozen the assets of Prometheus Capital – ...

German eye clinic raises its China profile via IPO
Nov 1, 2019 (WiC 472)

Jorn Jorgensen is an eye surgeon and a skilled marketeer. To celebrate the opening of his latest clinic in Beijing last month, he operated on his son Jannik, implanting ICL lenses, or what he called “the gift of visual freedom” in a procedure ...

Moji app’s IPO plans thwarted
Oct 25, 2019 (WiC 471)

When information technology giant IBM announced that it was buying the digital assets of The Weather Company in 2015, some onlookers wondered why. What they didn’t realise was that the deal, valued at around $2 billion, would help Big Blue tap ...

A matter of influence

KOL incubator Ruhnn hit by American lawsuit over its Nasdaq IPO
Oct 25, 2019 (WiC 471)

With 3.8 million people following her on weibo, Zhang Yuhan promised a sprinkling of sales magic for potential sponsors. So a Shenzhen-based entrepreneur paid Zhang and her agency, Hive Media, Rmb47,500 ($6,723) for a promotional vlog on his ...

Frostier times ahead for Chinese IPOs in the US?
Oct 18, 2019 (WiC 470)

When the US began to advocate tariffs to reduce its trade deficit in 2018, many thought it was a classic Donald Trump bargaining chip to get a better deal from China. Most still do. But many now believe the trade war represents just the first ...

Balancing trick

Ratio cut unlocks $126 billion in loan liquidity
Sep 13, 2019 (WiC 466)

China is entering a new era where the number ‘five’ will feature very prominently. When it comes to communications all the talk is of a world of 5G and for economic growth the figure 5% is increasingly spoken of. Economists have ...

Ruihua accounting scandal postpones 60 IPOs
Aug 23, 2019 (WiC 463)

“If any problem is discovered in the accounts books, then the person in charge of administration and accounting and other officials should be liable for the indemnification against the insufficiency.” Such was the accounting stipulation ...

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