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News on Banking & Finance in China

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A serious headache

Regulator attacks corporate governance violations at top Chinese firm
Oct 30, 2009 (WiC 36)

Wuliangye markets itself as the “quintessence of the heaven, the earth and the human”. Post-quintessence, it can also produce the mother of all hangovers. Any Western business executive who has done business in Sichuan province will be ...

Free toothpaste, anyone?

New push to reach 60 million without bank access
Oct 23, 2009 (WiC 35)

For most of the last decade the farmers of Fenxi County in Shanxi province have had no access to a bank. With no conventional financial services available, the villagers have resorted to raising dogs to guard their savings. It wasn’t always ...

Down, as well as up

China IPOs turn out not to be such a sure thing after all
Oct 9, 2009 (WiC 34)

Every country has its certainties. In Britain, vegetables will be overcooked, a quick drink won’t be quick, and the average person will be able to name far more X Factor contestants than they can cabinet ministers. In China, you can be sure ...

Geoghegan’s big China move
Oct 2, 2009 (WiC 33)

Back in March 1865, a Scot named Thomas Sutherland thought it might be a good idea to open a bank in Hong Kong to take advantage of growing trade with China. The result was HSBC. February 2010 will be another landmark month in HSBC’s ...

The ‘Pauper’s Bank’

Forget US sub-prime – Alibaba boss wants to lend to China’s poorest people
Oct 2, 2009 (WiC 33)

Use the term ’pauper’ and many people will recall Mark Twain’s famous novel The Prince and the Pauper. But if the description seems a little arcane in the West, it has just got a new lease of life in China, according to the Business ...

Don’t bank on it

Small businesses are getting the credit cold-shoulder
Sep 25, 2009 (WiC 32)

A man suffering from an excess of lice will soon stop itching, predicts the Chinese proverb, just as a borrower with too much debt gets less worried about repaying it. It is a scenario that a few of China’s small businessmen might well be ...

A debacle over derivatives

China’s state firms may choose to default on loss-making derivative contracts. Foreign investment banks are crying foul.
Sep 11, 2009 (WiC 30)

What was the initial reaction? Caijing reported that notices had been sent to six foreign financial firms telling them that several state-owned enterprises reserved the right to default on commodities contracts. The notice ...

Ever more bright

Foreign strategic investors – who needs them?
Sep 11, 2009 (WiC 30)

The Chinese banking sector is a strange beast. At one end of the scale you have ICBC, which has become the world’s biggest bank by market capitalisation. At the other end you have the predicament of Li Jun. According to the Guangzhou Daily, a ...

Foreign affairs

How the city of Shanghai is teaming up with foreign private equity funds
Aug 28, 2009 (WiC 28)

There’s a Chinese proverb that states: “When you’re being chased by a tiger, you don’t have to outrun the tiger, you just have to outrun the other guy.” Blackstone’s China boss, Antony Leung is no doubt aware of the saying. And ...

A not-so-hot August

Stocks in Shanghai plunge almost 20%. Time to get bearish again?
Aug 21, 2009 (WiC 27)

While you were on holiday... the bull market in China may have ended. That was the talk on Wednesday, with the Shanghai A-share market closing at 2,785. That was 19.2% below the high reached on August 4 of 3,471 – with analysts generally ...

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