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News on Banking & Finance in China

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Jumei founder finally delists his firm in the US
Apr 24, 2020 (WiC 492)

Venture capitalists sometimes deploy personality tests to distinguish between those entrepreneurs that are acceptably optimistic and those that are completely delusional. For Chen Ou, the flamboyant co-founder of Jumei, the e-commerce site ...

Another short story

More fraud allegations cast shadow over US-listed Chinese firms
Apr 17, 2020 (WiC 491)

For some of those Chinese companies listed in the United States, 2011 was a torrid year. Short-sellers such as Muddy Waters were turning the spotlight on financial chicanery at previously nondescript firms. The exercise ended up forcing the likes ...

Buying the family firm

The ‘smart money’ in Hong Kong thinks valuations are now attractive
Apr 10, 2020 (WiC 490)

Investment rule number one: only put money into things that you understand. Rule two: when the market gets tough, stick even more strictly to rule number one. The assets that most business tycoons are most familiar with are the shares of their ...

Stocks linked with Wuhan’s revival get a boost
Apr 10, 2020 (WiC 490)

Xiong Juan, a 39 year-old hairdresser in Wuhan, has never been busier. In the past three weeks she has been travelling around Hubei’s provincial capital cutting the hair of people who had been homebound for two months. On a good day she could ...

On borrowed time

China’s banking sector braces for the impact of another round of stimulus
Apr 3, 2020 (WiC 489)

Despite a battle of their own with mounting bad debt and poor profitability in recent years, China’s banks have been given another onerous task: helping to soften the economic shock from Covid-19. The country’s lenders were asked to ...

Hitting a brick wall

Chinese developers run into trouble in the bond markets
Mar 27, 2020 (WiC 488)

China’s real estate firms started 2020 on a high. A record number of corporate defaults last year (see WiC481) didn’t seem to have dampened investor enthusiasm for their bonds. In the first two weeks of the year at least 10 listed property ...

Filling the gap

China’s first ‘private sector petrol station’ IPO raises questions
Mar 13, 2020 (WiC 486)

We all know the story of David and Goliath (though in Malcolm Gladwell’s version David was always the likelier victor). Over in China, Hunan Heshun Petroleum, a private sector petrol station operator, is the underdog that has sought to take on ...

A payday, at last?

Mastercard, Oaktree get wider access to China market
Mar 5, 2020 (WiC 485)

Mastercard’s outgoing CEO Ajay Banga has been a guest of US President Donald Trump on various occasions. The most recent was the signing ceremony of the phase-one trade deal between the US and China at the White House in January (see WiC479). ...

Huishang takes control of the remnants of Tomorrow Group’s failed bank
Feb 21, 2020 (WiC 483)

It’s a problem that long predated the Covid-19 outbreak and its resolution has been in gestation since last May: the restructuring of the troubled Baoshang Bank. Huishang Bank, a major player in Anhui province, has emerged as a white-knight ...

Capital injection

Which healthcare stocks are benefiting from the coronavirus crisis?
Feb 14, 2020 (WiC 482)

Perhaps no single drug is more associated with its manufacturer’s success than Bayer’s Aspirin. Developed by German chemist Felix Hoffmann to alleviate his father’s rheumatism, the painkiller has been sold as an over-the-counter tablet ...

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