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News on Banking & Finance in China

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Intangible lending

Chinese banks experiment with loans collateralised by patents
Jun 5, 2009 (WiC 18)

The year 1421 was more seminal to the course of world history than most people think. It was a year in which China launched the greatest navy that had ever been. Author Gavin Menzies reckons Admiral Zheng He’s fleet reached America and ...

Bad broker gets execution

Yang Yanming makes history as first stockbroker to get the death sentence
May 22, 2009 (WiC 16)

There must be some Americans who have wondered whether Bernard Madoff deserved the death penalty. What is almost certain is that if he was Chinese, he would have got it. That is not conjecture: the Beijing Municipal Higher People’s Court ...

Underground lending is growing fast. Should it be legalised?
May 15, 2009 (WiC 15)

The London Interbank Offered Rate recently fell below 1%, but if you are a cash-strapped entrepreneur in China you could find your own borrowing rate is more like 180% per annum. Of course, that is not an official rate. Indeed, in the absence ...

A new kind of bridge loan

China’s big banks are lending like there’s no tomorrow
May 8, 2009 (WiC 14)

How do you make a grown man cry? Make him watch Marley & Me, perhaps? Or in the case of Wang Jian tell him he can lend you the money to build a bridge. Wang told Southern Weeked that he indeed did shed tears – of joy – when his ...

Bank loans are now at Alibaba’s command
Apr 30, 2009 (WiC 13)

China’s banks lent $671.6 billion in the first quarter of this year. The problem is that hardly any of this money went to small and medium-sized enterprises (SMEs). SMEs represent the lifeblood of an economy. They are typically the most ...

Billion dollar IPO on track

Zhongwang may revive the Hong Kong market for Chinese listings
Apr 24, 2009 (WiC 12)

In times like these, an IPO needs all the help it can get. Little wonder then that Zhongwang – an aluminium firm – has calibrated its price range so that if it prices at the top, Hong Kong’s retail investors will get a board lot for ...

Lender of last resort

Earthquake-ravaged Fangbei tries a financial experiment
Apr 17, 2009 (WiC 11)

After narrowly losing out in the Masters at Augusta last weekend, golfer Kenny Perry cut a very dignified figure. The 48 year-old commented: “If this is the worst thing that happens to me, then I’ll have had a pretty good life.” Perry ...

Visa restrictions

Getting a credit card in China isn’t as easy as it used to be?
Apr 10, 2009 (WiC 10)

Cinema audiences got to see a lot of China Merchants Bank’s Platinum credit card in the movie, If You Are The One. The film, which broke Chinese box office records in February, was co-financed by the bank. One upshot was a number of fairly ...

China’s provinces have launched their debut municipal bonds
Apr 3, 2009 (WiC 9)

Amidst high default rates, punitive credit ratings and unprecedented funding costs in large parts of the world’s municipal bond markets, you will probably be surprised to hear that – despite the less than perfect timing – two of China’s ...

China’s banks remain bastions of profitability in a world of red ink
Mar 27, 2009 (WiC 8)

Given the modest amount of their own capital and their tiny loan-loss reserves, and after taking into account the magnitude of non-performing loans, several of China’s major banks are already insolvent.” This was the verdict – almost ...

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