China
LATEST ARTICLES
-
A lack of consensus on whether recent under-performance of Asian currencies will impact China’s willingness to let its own currency weaken is leading to disparate views on near-term valuations.
-
China’s Project Whitelist, launched at the start of the year, exists to ensure bank funding for property development. But it is there to protect projects, not the developers behind them.
-
The Singapore lender is looking to India in search of new business and growth opportunities, its chief executive Piyush Gupta tells Euromoney. Long term, it aims to emulate onshore the country’s best private-sector lenders, HDFC and Kotak Mahindra.
-
Previous changes of policy direction have left analysts undecided on whether to attribute recent sharp corrections to the renminbi reference rate to accident or design – or even a combination of the two.
-
Encumbered by an impotent fiscal policy and a sluggish stock market, bank lending could be China’s only route to economic recovery.
-
Stock market reform has not only revitalized the country's capital markets but has also permeated the real economy. Countries like Korea are quickly following suit. Interestingly, China also seems to be drawing inspiration.
-
AsiamoneyThe German lender’s decision to put its chips on southeast Asia is paying off handsomely. Under the leadership of Asia CEO Alexander von zur Mühlen, Deutsche Bank has doubled its capital in Vietnam and Indonesia, with more to come, moved a host of global roles to the region, and has seen Asean eclipse its India and China business in terms of growth and absolute numbers.
-
Chinese fintech Ant Group has offered UBS a reported $250 million for Credit Suisse’s China joint venture, outbidding Citadel Securities. It is a timely reminder that despite its current malaise, Asia’s largest economy is still a great long-term place to invest.
-
As Beijing works to underpin the equity market, China's fund houses and investment banks are betting on exchange-traded funds as the next big thing. That reflects a market corseted by regulation, where limited options compel a collective herd mentality.
-
The Sino-Swiss corridor, set up to encourage Chinese firms to sell global depositary receipts to international investors in the European state, took off fast in 2022. But a host of challenges, from Chinese regulatory concerns to an apparent lack of global interest, has stalled its progress.
-
While the world’s biggest markets are still preparing for T+1 settlement, talk is growing of the next step – but going any faster would mean a total reworking of how markets function.
-
Many factors explain Japan’s renewed allure to global corporate and financial institutions. Inbound FDI is rising, with local stock prices regularly hitting record highs. Is the economy’s long-awaited renaissance a passing phase or here to stay?
-
With its economy embattled and investors fleeing in droves, getting good data on China has never been more important. There are some great analysts and research shops out there. Trouble is, too many China-facing reports suffer from a lack of imagination, groupthink brought on by a fear of irritating Beijing and an over-reliance on state data. That must change.
-
Hong Kong-based Chinese investment banks, plagued by the market’s liquidity issues, are looking to China's economic pivot and the renminbi's rise as a fundraising currency to restore their fortunes.
-
At the start of 2023, analysts sized China and liked what they saw: an economy reopening after three years of Covid isolation, and ready once again to roar. Nothing of the sort has happened and corporates and institutional investors are now fleeing the market in droves.
-
The 34th annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
-
As the Chinese property crisis deepens, a new round of bank-led rescue efforts is on the horizon. While banks must shoulder part of the blame for the crisis, their options for action are limited.
-
The travails of Zhongzhi, a key player in China’s poorly regulated $3 trillion shadow financing market, underline why a future crisis in the country is more likely, not less.
-
The great and the good have assembled again for the Global Financial Leaders investment summit in Hong Kong.
-
While the dollar’s international supremacy is unchallenged for now, the wider landscape is shifting. Companies are raising more funding in renminbi and the currency’s use in international payments and settlements is growing.
-
A local asset management company in Liaoning province just bailed out Shengjing Bank – by borrowing the capital it needed from the very same ailing regional lender.
-
Global banks spent years trying to make China’s vast market work for them, mostly in vain. Today, though, China’s manufacturers are investing in Europe and the US, and turning to Western lenders for advice. The real China opportunity starts here.
-
While foreign investment in China has fallen, supply-chain shift is a different story. Rather than transferring their main production away from China, manufacturers are cultivating deep regional supply chains across Asia and beyond.
-
AsiamoneyAfter years of easy Eurobond access and ramped-up Chinese lending, developing economies are now caught between rising interest rates and geopolitical tensions, making debt restructurings more numerous and more complicated. Despite some progress in inter-creditor talks, many debtor nations face an uncertain financial future.
-
AsiamoneyDespite its roots in the region, HSBC’s Asian woes have sometimes seemed endemic. It has been overly dependent on Hong Kong and too often caught in Sino-US crosshairs. But under regional co-CEOs Surendra Rosha and David Liao, the lender has regained its confidence, is more regionally diverse than ever, and is busy posting record profits.
-
China Merchants Bank
-
-
AsiamoneyOutbound Chinese M&A deal-flow has slowed to a crawl even as inbound activity remains steady. So focus in the region is moving elsewhere: to rising India, steady-and-lucrative Australia and even Japan, where once-bloated conglomerates are streamlining portfolios under intense pressure from activist shareholders.
-
How on earth, in this environment, did the bank deliver one of its best-ever quarters in Asia?
-
-
-
-
Minmetals International Trust
-
China Merchants Bank was a clear outlier among its domestic banking peers in the mainland in the past year as its 3.0 business model took shape and produced solid results.
-
As the world’s largest bank by assets, Industrial and Commercial Bank of China has proven time and again that it is more than capable of navigating any headwinds and challenges that come its way.
-
Ping An Bank’s transformation over the last five years has given it an undisputed, and long, lead over its peers in digital solutions.
-
Bank of China has long been at the forefront of the mainland’s environmental, social and governance ambitions, and its pivotal role in driving the national agenda has gained steam in recent years.
-
Small and medium-sized enterprises are the mainstay of the Chinese economy, given they account for about 97% of all firms in the country and play a vital role in providing employment opportunities.
-
Every bank in China has put corporate social responsibility firmly in its sights, especially over the past few years of pandemic-induced hardships. But the Asiamoney 2022 award for best bank for CSR in the country goes to China Construction Bank for going above and beyond the standard CSR focus.
-
HSBC has operated in mainland China since 1865 and is a force to be reckoned with: it is the largest foreign bank in the country, operating in 50 cities, with 150 outlets and over 7,000 employees.
-
As a US bank operating in China, Citi has had to balance difficult political relations between the two countries to run its business, navigating trade tensions, a sparring of words between the presidents of these two superpowers, disputes over US audits of Chinese firms, and the near-halt of lucrative China-into-US IPOs.
-
The 33rd annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
-
The combination of China’s crackdown on technology companies, its zero-Covid strategy and its domestic property crisis have buffeted Chinese stocks this year. In order for sentiment to stabilize and for the economy to develop, reforms are needed urgently, putting more emphasis on the private sector and less on GDP growth.
-
The outlook for the Chinese real estate sector is bleak, with many more highly indebted companies expected to default on their bonds and loans. If the market is to recover, however, the government will need to ease more restrictions so that firms can access funding again and demand for homes picks up.
-
-
CreditEase Wealth Management
-
-
CreditEase Wealth Management
-
Minmetals International Trust
-
-
-
MUFG Bank is investing in its Greater China business, but will its strategy pay off?
-
Two critical developments in China caught the financial markets off guard in 2021.
-
The 32nd annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
-
Many ABS deals in China caught Asiamoney’s attention this year, whether from new issuers and asset classes or because they came with structural innovations.
-
Among China’s securities houses, China International Capital Corp impressed Asiamoney the most with its ability to innovate.
-
Bank of Communications has led or jointly led many landmark deals in China since it received its first ABS underwriting licence in 2013, and its peers, including foreign firms, have noticed.
-
When it comes to international banks operating in China’s securitization market, HSBC is an outlier – not because of its market dominance, but because of its strategy for the asset class.
-
Since setting up the ABS department in 2006, Citic Securities has become an indisputable leader in the market.
-
Bank of China continues to lead the way in asset-backed securitization in mainland China, making it a clear choice for the best domestic bank for securitization award.
-
Citic Securities is the undisputed leader in China’s domestic equities market.
-
Citic Securities is the undisputed leader in China’s domestic equities market.
-
China Securities Co’s performance in the onshore debt market has gone from strength to strength in the past year. Between July 1, 2020, and June 30, 2021, Asiamoney’s awards period, CSC claimed a 11.2% market share in bond underwriting and an increase in volume of nearly 23%, making it one of only two securities firms (the other was Citic Securities) to have a share of more than 10%, Wind data shows.
-
During Asiamoney’s awards period, Haitong International was busier than all its peers in equity capital markets.
-
Citi has long had a reputation of leveraging its unrivalled global network and local market expertise to help clients – no matter where they are based – to find business opportunities, either domestically or internationally.
-
China Merchants Bank has once again impressed Asiamoney with its solid performance and growth, making it our choice for best corporate and investment bank in China for 2021.
-
China Merchants Bank has once again impressed Asiamoney with its solid performance and growth, making it our choice for best corporate and investment bank in China for 2021.
-
One of the big four Chinese state-owned banks, Bank of China has delivered solid results in the onshore debt market, making it the obvious winner of this Asiamoney award.
-
In 2020, China International Capital Corp reported an impressive 40% year-on-year jump in investment banking revenues to Rmb5.96 billion ($921 million).
-
In 2020, China International Capital Corp reported an impressive 40% year-on-year jump in investment banking revenues to Rmb5.96 billion ($921 million).
-
In 2020, China International Capital Corp reported an impressive 40% year-on-year jump in investment banking revenues to Rmb5.96 billion ($921 million).
-
The coronavirus pandemic has unearthed a wave of anti-China sentiment across the world, impacting Beijing’s trillion-dollar Belt and Road Initiative. Will BRI have a future in a post-pandemic world? A veteran banker at HSBC says yes – but the shape it takes will be vastly different.
-
Some of China’s largest state-owned companies have become bond market pariahs after a spate of defaults. This may be just what the country’s markets need.
-
Hong Kong must improve its environmental track record and rally the private sector if it is to succeed in its ambition of becoming Asia’s leading centre for green finance.
-
China’s crackdown on its biggest technology companies shows the difficulty of balancing growth at all costs at the leading fintech firms with support for state-owned banks.
-
A global competition is under way to define the future of money – and the bet is overwhelmingly on China to get there first.
-
CreditEase Wealth Management
-
-
China International Capital Corp
-
Minmetals International Trust
-
-
-
-
China Development Bank’s Rmb10 billion climate bond
-
Lianhe Equator Environment Impact Assessment Co
-
-
Research on climate-related information disclosure systems of the banking and insurance industry by CIB Research
-
-
China Chengxin International Credit Rating
-
-
China Merchants Bank
-
Hundsun Technologies
-
AsiamoneyBritish economist John Maynard Keynes famously wrote more than 80 years ago that people’s behaviour in the financial world is often driven by “animal spirits” that suggest “spontaneous optimism rather than mathematical expectations”. The current craze for special purpose acquisition company (Spac) listings is a good example.
-
How should investors incorporate political risk into their view of asset markets?
-
Since the People’s Bank of China (PBoC) reformed the country’s benchmark rate system in August 2019, many banks have linked their RMBS trades to the new five-year loan prime rate (LPR). But the underlying mortgages of their RMBS deals were still linked to the old benchmark rate. As a result, linking their RMBS to the new five-year LPR created a rate mismatch between the asset side and the securities side.
-
The legal landscape in China around the securitization industry is often hard to navigate. But King & Wood Mallesons (KWM) stands out from its peers. The law firm provided legal services for 254 securitization transactions with a total value of Rmb296.2 billion ($45.4 billion) during the awards period, according to Wind data.
-
China Chengxin International Credit Rating (CCXI) dominated ABS ratings during the awards period with a market share of more than 55%, well ahead of its closest competitor, which had a 27% share.
-
Citic Securities has an enviable position in China’s ABS market: it boasts a structuring team with the ability to innovate and a large enough client base to test out those new ideas. The firm has notched up several landmark deals, each opening new ground for others to follow.