China’s stock market crash left a host of casualties in its wake—from a weakened renminbi to plummeting commodity prices.
This week, trading on the Shanghai Stock Exchange exceeded RMB 1 trillion causing a major software glitch; China’s factory activity slowed (again); and Visa and MasterCard finally got a level playing field.
This week, CEO Wang Jianlin missed the opportunity to become the richest man in China when the much awaited Dalian Wanda IPO turned out to be a damp squib and Xiaomi was valued at $45 billion, way higher than Uber.
Michael Brennan, a renowned academic in finance, on the variable interest entity structure, China’s capital markets and the internationalization of the renminbi.
This week, figures from the HSBC/Markit PMI implied that the Chinese economy might finally be on the path to the much-need structural change; local government financing got a new breather; and Baidu launched its Google Glass competitor, Baidu Eye. The Broader Picture Last week, a flash Purchasing Manager Index (PMI) reading from HSBC and Markit […]