Chinese Economics Thread

[antiterror13]

Are you saying the US regulators have not been able to access the financial records of the Chinese companies listed in the US markets?

How did these companies pass their qualification in the first place then?

My understanding is that the US now requires to access not only financial statements, but also the user data records (i.e Didi), including the travel records of the customers .. so it is a bit too much

 

[W20]

I don't want to buy in Shanghai, what I want is Shanghai to defend me, because I assure you that this loneliness is the most frightening thing I've ever experienced: imagine being in a big stadium (New York) day after day, year after year, with all the public booing you

 

[Overbom]

Huge News!! Is this real?
Is Evergrande in default??

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The recent default of property developer China Evergrande Group is an individual case and will pose little impact on the market, the country's regulatory authorities said Friday.

Evergrande's problem was mainly caused by its own mismanagement and break-neck expansion, an official with the People's Bank of China (PBOC) told the press when asked to comment on Evergrande's recent default on guarantee obligation.

"We believe that regulatory authorities in relevant jurisdictions would handle this issue in a law-based and fair manner," a spokesman with the China Banking and Insurance Regulatory Commission (CBIRC) said.

Noting the current default will not have negative impact on the safe and sound operation of China's banking and insurance industries, the spokesman said there will be no change for the principles and stance upheld by the financial regulatory agencies in protecting the legitimate rights of consumers, investors and businesses according to the law.

 

[zgx09t]

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I think this is a non starter

"As a first step in the new rule, the agency will identify companies that may not be in compliance with the audit inspection requirements. Once a company is classified by the SEC as a “commission-identified issuer,” it’ll have to submit documentation proving it’s not owned or controlled by a government.

Firms will also have to specify in their annual reports additional information about the operating company and any shell companies used to trade, including:

The percentage of shares that are owned by a government entity
Whether government entities have a controlling financial interest
The name of each member of the Chinese Communist Party who sits on the board
The SEC rule lays out the process for imposing an initial trading ban on firms after three years of non-compliance, as required by the 2020 law"


20 law.

SEC, however hard they wish, doesn't have authority or control over China. Chinese regulators are paying lip service to change the rules on China's end, and it is just that, a polite tokenism. China will let the deadline pass and let them de-list and these listings would devolve to some unlisted otc markets.

China can in turn squeeze the VIE structures gingerly as they wish and see fit.

 

[ZeEa5KPul]

Im not sure that will apply to all investors. Some (or many) may not have the desire to invest in a chinese stock exchange. There was a reason for these companies to list in the US stock exchanges.

They'll get the desire. Do you know why? For exactly the same reason China's economy tripled in size since you've been here.

How do you feel about that, by the way?

Huge News!! Is this real?
Is Evergrande in default??

The forum needs a yawn emoji.

 

[Bellum_Romanum]

I don't want to buy in Shanghai, what I want is Shanghai to defend me, because I assure you that this loneliness is the most frightening thing I've ever experienced: imagine being in a big stadium (New York) day after day, year after year, with all the public booing you

Why are you being booed to begin with

 

[W20]

Copy and paste

"If all China stocks are de-listed from the US and moved to Hong Kong and/or Shanghai, it means one thing: the world finance center is moving to Asia --- from Amsterdam to London to America, and now to Hong Kong/Shanghai"

Yes, I feel the same way, and I find it funny that Washington collaborates in saying that New York is the past and Hong Kong and Shanghai are the future

 

[B.I.B.]

I wonder why Samsung chose not to list on the NYSE but London and Luxemburg of all places.

 

[W20]

Love and contempt

A germany enterprise In Frankfurt Stock Exchange
A spanish company In Madrid Stock Exchange
A chinese enterprise in Shanghai
An american company in New York

And The most dreadful loneliness ...

A chinese enterprise in New York Stock Exchange

If you are passionate about the history of a company and follow its share price on a daily basis

In fact in Shanghai the Price is 10 x the New York Price, because stock Prices are love and contempt, applause and booing

 

[W20]

Ask Jifan Gao and many others what they think of the New York Stock Exchange

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