financial markets

Wen Says China Faces Economic ‘Dilemmas’

According to Premier Wen Jiabao, China’s “domestic and global economic environment is extremely complicated.” From the Wall Street Journal: Chinese Premier Wen Jiabao said Sunday the country’s economic...

Ronnie Chan: The West’s Preaching to the East Must Stop

Ronnie Chan, a Hong Kong based businessman and former head of Enron’s audit committee published an OP-ED on Financial Times: While the world debates the future of its financial system, global rebalancing or even power...

Wu Xiaoling: New Frontiers for China’s Financial Sector

Written by Wu Xiaoling, vice chairwoman of the Financial and Economic Committee of the National People’s Congress, from Caijing Magazine: Thirty years of economic reform set a course for the enormous achievements now...

Wal-Mart, GE Launch Credit Card in China – AP

From Associated Press via The Wall Street Journal: Wal-Mart Stores Inc. and General Electric Co.’s finance arm are joining the race for a share of China’s growing consumer-credit market by launching their own credit card this week, a Wal-Mart spokesman said Tuesday. The card is to be formally launched on Friday but the companies began […]

ICBC $19.1 Billion IPO to Make World Record – Cathy Chan

From Bloomberg News Industrial & Commercial Bank of China Ltd., the nation’s biggest by assets, plans to raise as much as $19.1 billion in the world’s largest initial public offering, four people involved in the sale said. Beijing-based ICBC plans to offer 35.4 billion shares at HK$2.56 to HK$3.07 apiece, said the people, who declined […]

Wal-Mart Will Launch Its First China Credit Card – Mei Fong

From The Wall Street Journal: Wal-Mart Stores Inc., the world’s largest retailer in terms of sales, will announce the launch of its first credit card in China today in conjunction with China’s Bank of Communications, according to Wal-Mart and bank officials. The venture is likely the first credit card issued by a foreign retailer, analysts […]

China considers slowing down IPO approvals again amid listing glut – AFX

From AFX via Forbes.com: The China Securities Regulatory Commission is considering a slowdown or de facto suspension of approvals for initial public offerings and other issues, amid concern about the glut of offers on the market following the lifting of the previous IPO ban, the South China Morning Post reported. The report added the previous […]

Guangfa’s Chen Buys Winemakers to Lift Small-Cap Fund – Zhang Shidong

From Bloomberg: Chen Shide is beating all mutual funds investing in China by buying shares of Shanxi Xinghuacun Fen Wine Factory Co. and Yantai Changyu Pioneer Wine Co., which are benefiting from growing personal incomes. Chen’s 1.69 billion yuan ($212 million) Guangfa Small Cap Growth Equity Fund has returned 101 percent over the past 12 […]

China Approves Plans for Huge Bank IPO – Peter S. Goodman

From Washington Post China’s government Wednesday approved plans by the country’s largest bank, the Industrial & Commercial Bank of China, to raise $14 billion or more in one of the largest stock offerings ever. Never mind that Chairman Mao’s visage remains on all the money or that the country remains ruled by a Communist Party […]

ICBC Secures China Regulatory Approval for Share Sale – Luo Jun

From Bloomberg: Industrial & Commercial Bank of China, the nation’s largest lender, received regulatory approval for a public share sale, paving the way for the lender to be the first company to sell shares simultaneously in Hong Kong and Shanghai. State-owned Industrial & Commercial may raise between $10 billion and $12 billion in its Hong […]

New rules in China to ease futures trades – Samuel Shen and Xiao Yu

From Bloomberg News via the International Herald Tribune: China will allow futures brokers to trade overseas and establish investment funds to spur development of its capital markets and unlock more of the nation’s 15.4 trillion yuan, or $1.9 trillion, of household savings. The new regulations will take effect before the end of the year, Yang […]

China cabinet plans key policy meeting on financial system reform – AFX News

From AFX via Forbes.com: China’s state council, the country’s cabinet, is planning a key meeting later this year to set a fresh agenda for the overhaul of its financial system, the Wall Street Journal reported, citing a government official. The meeting could yield changes for China’s most troubled banks and usher in new programs to […]

UBS Clears Key Hurdle in Establishing First China Brokerage – Bloomberg

From Bloomberg News: UBS AG, Europe’s biggest bank, cleared a key hurdle in its bid to establish the first Chinese brokerage managed by an overseas securities firm, a China Securities Regulatory Commission document shows. Beijing Guoxiang Asset Management Co. and Jianyin Investment Co., the Swiss bank’s partners in the venture, today received approval from the […]

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