Banking & Finance « Week In China - Part 4

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Banking & Finance

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Gree skips dividend to make big chip investment
May 11, 2018 (WiC 408)

Will it be a case of third time lucky for Gree Electric’s Dong Mingzhu? China’s most famous businesswoman has not had much luck diversifying away from the company’s highly lucrative, but equally concentrated, business of selling air ...

Why a blockchain event in Macau has got widespread attention across China
May 4, 2018 (WiC 407)

Investors are sometimes a superstitious lot, so it was surprising that Hong Kong singer G.E.M. was rumoured to be performing her hit single Bubble at the World Block-chain Conference in Macau late last month. Featuring lyrics such as, “You ...

Why Hong Kong’s dollar drop could signal a slowdown in city’s economy
Apr 27, 2018 (WiC 406)

During his 16-year tenure as head of thr Hong Kong Monetary Authority (HKMA), Joseph Yam was the staunchest defender of Hong Kong’s currency peg to the US dollar. In fact, he was often mocked as a “one-trick pony” – as a man who just ...

Ant Financial gears up for mega IPO
Apr 20, 2018 (WiC 405)

During his testimony to the US Congress last week, Mark Zuckerberg highlighted that Facebook had humble beginnings in his dorm room. But when Republican Senator Dan Sullivan suggested that Zuckerberg’s success was a quintessentially American ...

Walmart cuts off Alipay after forging deal with Tencent
Apr 6, 2018 (WiC 403)

On March 15 shoppers at Walmart’s Chengdu stores were greeted by a sign informing them of a change to how they could pay. On the list: Unionpay, Apple Pay and WeChat Pay. Off the list: Alipay. Customers at other locations discovered the same ...

Why Qudian CEO has joined the $1 salary club
Mar 23, 2018 (WiC 402)

Taking a $1 salary is a bold move by a boss. The practice has its provenance in wartime, when prominent executives in the US offered to serve their government for a token salary of just $1 per year (plus necessary expenses). Thanks largely to ...

Slew of China’s live-streaming platforms rush to float shares
Mar 16, 2018 (WiC 401)

Of China’s 5,000 years of history, the Spring and Autumn period (771 to 476 BC) is certainly one of the most intriguing interludes. The interregnum was marked not only by tactical skirmishes among hundreds of fiefdoms seeking power and ...

New entity Baihang to rate personal credit
Mar 9, 2018 (WiC 400)

It’s easy to get a loan in China. Just not from a bricks-and-mortar bank. In the last few years online credit companies have proliferated. Often all you need to qualify for a loan is a mobile phone and some kind of internet history. ...

Wu Xiaohui to be charged as insurer Anbang is taken under state control
Mar 2, 2018 (WiC 399)

About 20 years ago, amid the bursting of an asset bubble, the Japanese government injected a huge amount of taxpayer money into a slew of troubled banks and brokerages. Some firms were temporarily nationalised. Chiyoda Mutual, the most leveraged ...

Can China’s debt-fuelled growth model defy economic gravity forever?
Feb 2, 2018 (WiC 396)

In October 2016 the International Monetary Fund warned that China was heading for a banking crisis. Its working paper urged Beijing to act quickly to rein in credit growth before the problem became systemic. The IMF’s warnings sounded ...

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