Amid a market rout that brought Chinese stocks to a five-year low, a state media that continues to push blindly optimistic economic bromides, and a constricted online environment in which the Ministry of State Security has...
In recent weeks, several widely shared Chinese-language articles about economics and finance have been deleted by censors, and one prominent economist has had some of his social media accounts banned. This suppression of frank...
Popular English-language media are never shy to point out distressing signs concerning...
Looking at Xi Jinping’s steady tightening of control over the media and long-running...
Joseph Stiglitz at The Guardian (via Project Syndicate) argues that China’s reformers could...
Bloomberg reports that a key measure of Chinese manufacturing output fell to a six-month low in...
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, 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...
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...
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 […]
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 […]
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 […]
From Bloomberg: Ping An Insurance (Group) Co. plans to offer credit cards next year, becoming the first insurer in China to diversify into an industry forecast to expand more than tenfold by 2010. Ping An will issue credit cards “as soon as possible,” Chief Operating Officer Louis Cheung said in an interview in Hong Kong […]
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 […]
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 […]
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 […]
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 […]
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 […]
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