Tag Archives: China

How to offshore your credit card with China’s Unionpay

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“China created Unionpay 13 years ago to serve as its own interbank for payments.  The unique benefit of Unionpay is that is controlled by the People’s Bank of China and has no relation to the western banking system.  In fact, the Russian government is using the system while they build their own payment system to get away from western systems. One Russian billionaire commented that he got a Unionpay-backed card to protect himself after US sanctions were imposed on Russia.  You can get a Unionpay card by opening a bank account in Mainland China.  Interestingly enough, wealthy Chinese are even using Unionpay for capital flight out of Mainland China.”

http://nomadcapitalist.com/2015/03/02/offshore-credit-card-china-unionpay/

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Why China Just Spent $2.3 Billion On America’s Hottest Startups

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“Alibaba and its two giant Chinese Internet rivals – search engine Baidu and gaming / messaging firm Tencent – a trio known as BAT, are pouring money into all manner of firms at every stage from seed to late rounds. Since 2012 we count more than 50 investments totaling $2.3 billion. In the past 18 months alone Alibaba has plowed more than $1 billion into just ten U.S. firms.  Many of the investments are bizarre on the surface, smacking of dumb money rushing in late in the cycle and driving up valuations for everyone. Why would an e-commerce giant spend tens of millions of dollars on a startup that’s outside of its core business, and country?  In a word: smartphones.”

http://www.forbes.com/sites/liyanchen/2015/05/27/why-china-just-spent-2-3-billion-on-americas-hottest-startups/

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New Chinese law reinforces government control of cyberspace

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“Spokeswoman Zheng Shu’na said an overarching legislation was needed to deal with ‘ever-growing security challenges’.  A separate anti-terrorism proposal could require network operators and service providers fighting for a share of China’s $465 billion technology market to build in ‘backdoors’ for government surveillance, hand over encryption keys to Chinese authorities and store user data within China.  Companies worry that could undermine their ability to secure communications.  Other new regulations already require Chinese banks to have 75 percent of their IT infrastructure certified as ‘secure and controllable’ by the Chinese government by 2019.”

http://www.ecnmag.com/news/2015/07/new-chinese-law-reinforces-government-control-cyberspace

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China and Russia Lay Foundation for Massive Economic Cooperation

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“Russian and Chinese leaders are considering combining their two countries’ regional economic projects — the Eurasian Economic Union and the Silk Road Economic Belt, respectively.  While meeting at a two-day summit of the Shanghai Cooperation Organization in Ufa, Russia, Russian President Vladimir Putin and Chinese President Xi Jinping are reportedly discussing a framework that would merge China’s multi-billion dollar network of roads, railways, and pipelines through Central Asia with the Eurasian Union, the post-Soviet economic bloc that includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia.”

http://foreignpolicy.com/2015/07/10/china-russia-sco-ufa-summit-putin-xi-jinping-eurasian-union-silk-road/

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China: Risks … and Opportunities

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“The meltdown in Chinese stocks presents both risk of contagion for global stocks, including our markets, and a great buying opportunity in the making for global-oriented investors.  China’s mainland Shanghai Index soared 150% higher in just 12 months through mid-June. These eye-popping gains were fueled in large part by a massive expansion in margin lending, most of it off-the-books. A few weeks ago, officials in Beijing believed stocks could be getting overheated and decided to crack down on margin trading. Since then, Shanghai shares have plunged about 30% and have been down 13 straight days.”

https://www.moneyandmarkets.com/china-risks-opportunities-72093

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China Lets Banks Roll Over Loans Backed by Pledges of Shares

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“China will let banks roll over loans backed by shares and adjust their collateral requirements as the government tries to limit pressure for investors to sell stock and contain risks to the financial system from a market rout.  The China Banking Regulatory Commission also wants lenders to support firms’ share buybacks by offering collateralized loans, the agency said in a statement on Thursday. One of the side-effects of the share market’s collapse from a June 12 peak was to diminish the value of shares pledged as collateral for loans from banks and brokerages.  In China, a borrower pledging blue-chip shares can usually get a loan of as much as 50 percent of their value.”

http://www.bloomberg.com/news/articles/2015-07-09/china-lets-banks-roll-over-company-loans-backed-by-share-pledges

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China bans major shareholders from selling for next six months

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“China’s securities regulator took the drastic step of banning shareholders with stakes of more than 5% from selling shares for the next six months in a bid to halt a plunge in stock prices that is starting to roil global financial markets.  The China Securities Regulatory Commission (CSRC) said on its website late on Wednesday that it would deal severely with any shareholders who violated the rule.  The prohibition is also seen applying to foreign investors who hold stakes in Shanghai- or Shenzhen-listed companies, although most of their holdings are below 5%. More than 500 China-listed companies announced trading halts on the Shanghai and Shenzhen exchanges on Wednesday.”

http://www.theguardian.com/world/2015/jul/09/china-bans-major-shareholders-from-selling-their-stakes-for-next-six-months

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The world’s largest megacity, with more people than Canada, Argentina, or Australia

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“China’s Pearl River Delta is swallowing up nearby cities.  As the largest urban area in the world, the region features a population of roughly 42 million housed inside a 2,700-square-mile perimeter.  The Pearl River Delta is made up of nine cities, each boasting populations above 1 million. And China is combining them all into one giant megacity.  It’s bigger than Canada (pop: 35 million), Australia (pop: 23 million), and Argentina (pop: 41 million).  The PRD began as a rural region with an agriculture-based economy. Urbanization didn’t take off until the early 1990s, when factories and big business flocked to the region and brought with them millions of new residents.”

http://www.businessinsider.com/chinese-mega-city-has-more-people-than-canada-argentina-or-australia-2015-7

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Iron Ore Slumps to Lowest Since at Least 2009 in China

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“Iron ore retreated to the lowest level in at least six years as a rout in China’s stock markets threatened to hurt demand in the largest buyer just as the biggest producers plan to raise output.  Ore with 62 percent content delivered to Qingdao sank 10 percent to $44.59 a dry metric ton on Wednesday, according to Metal Bulletin Ltd. That’s the lowest price on record dating back to May 2009, the data show. The raw material was until the past several years traded predominantly through annual benchmark prices. Compared with those benchmarks, this would be the lowest since 2005, data compiled by Clarkson Plc show.”

http://www.bloomberg.com/news/articles/2015-07-08/iron-ore-collapses-to-record-low-as-commodities-sink-on-china

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Another Chinese Firm Defaults on Its Dollar Bond

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“Coal importer Winsway Enterprises Holdings Ltd. became the nation’s second company to default on a dollar-denominated bond this year.  The Hong Kong-listed company isn’t able to pay $13.2 million of semi-annual interest due Friday on $309.3 million of notes that mature next year, according to a Hong Kong stock exchange filing on Friday. A 30-day grace period expired May 8 after it skipped the payment April 8 and hired advisers to restructure its debt.  The recent missed payments are the latest challenge for foreign investors in China who may need to navigate unfamiliar means of recourse to a defaulted company’s assets.”

http://www.bloomberg.com/news/articles/2015-05-08/china-defaults-mount-as-coal-company-winsway-misses-bond-coupon

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