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News on Banking & Finance in China

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Chinese credit agencies named and shamed by market body
Mar 19, 2021 (WiC 532)

When things go wrong in the bond market, it’s normally the rating agencies that end up in the firing line. Investors always blame them for failing to issue timely warnings. That’s true for any global bond market, but especially so in China ...

A total write-off

Top Chinese auditor is wound up over scandal
Mar 12, 2021 (WiC 531)

In China’s auditing industry, Ruihua Certified Public Accountants was a would-be national champion. In its heyday in 2018, it was the auditor of 213 companies listed on the A-share market. Its client book, however, was left with just one ...

Weight watchers

Hang Seng Index constituents to hit 100, adding many more Chinese stocks
Mar 5, 2021 (WiC 530)

Investor excitement bubbled over in Hong Kong’s stock market last month with the explosive introduction of Kuaishou, the Chinese short-video app. In the biggest internet IPO since Uber went public two years ago, Kuaishou saw its shares nearly ...

Why China’s first credit tech IPO was pulled
Feb 19, 2021 (WiC 529)

As public relations disasters go it doesn’t get much worse than being sanctioned for the very attribute your company is supposed to excel at. That is what’s happening to VZoom CreditTech, whose IPO in Shanghai has just been pulled by ...

The changing face of China’s retail investors
Feb 11, 2021 (WiC 528)

Stock trading is no longer purely the preserve of the wealthy and well connected. That is one of the more powerful messages to emerge from the David-versus-Goliath struggle between retail investors and hedge funds over GameStop and other heavily ...

Alibaba’s new bond issue comes with ESG tranche
Feb 11, 2021 (WiC 528)

“The outbreak of the epidemic has made us understand more about the relationship between humans and nature,” explained Tencent founder, Pony Ma in mid-January. Few would disagree, including the World Health Organisation, as it continues its ...

Death sentence carried out as details emerge of official’s colossal graft
Jan 29, 2021 (WiC 526)

At a press conference by the Publicity Department of the Communist Party of China (CPC) five years ago, a reporter from Singapore’s Lianhe Zaobao asked an unexpected question: was it an unwritten rule that corrupt officials wouldn’t be ...

Two IPOs that underscore China’s ‘consumption upgrade’ trend continues
Jan 22, 2021 (WiC 525)

The debate about whether Chinese consumers are upgrading or downgrading their lifestyles is a never-ending one (see WiC515). The nearly 4% contraction in consumer spending last year, for example, is widely cited as evidence that the ...

Time to take stock

Who will head Hong Kong’s bourse – now more valuable than those in US
Jan 15, 2021 (WiC 524)

In Chinese mythology, dragons symbolise great power. They wield it as the deities of moving water and can generate both floods and typhoons. Right now a very large ‘red’ dragon can be spotted in Hong Kong, thanks to a flood of capital ...

Lufax looks for profit in new loan landscape
Dec 11, 2020 (WiC 522)

China’s P2P industry, or ‘peer-to-peer lending’, is no more. Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC), announced this week that the number of operators had been “zeroed out” by mid-November, ...

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