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China IPOs: Why Chinese Companies List Overseas

July 30, 2018 By Li Wei

For many years, China’s emerging companies, especially those in the internet sector, have relied on foreign capital. Alibaba and Tencent were nurtured by overseas venture capital, and were eventually listed abroad. These two companies have today become world-class giants. The market value of Alibaba was $495 billion as of late May, while Tencent’s valuation was $605 billion. This puts them among the world’s top 10 most valuable companies. The success of China’s leading tech companies is an understandable source of pride to many in China. But for China’s policymakers, a question presents itself: why do so many outstanding Chinese companies end up going public overseas?

Filed Under: All Articles, China, Economy, Finance, Infographics Tagged With: Alibaba IPO, Financing, IPO, Tencent

Why Are So Few Companies Going Public?

July 25, 2018 By Bennett Voyles

Public companies are becoming rarer these days. In the US, for example, the overall number of listed firms has fallen by almost half since 2000. Global M&A could be one reason for this, because being a big firm is very important for many industries and getting internal growth is more difficult than associating with a big company. Meanwhile, stricter rules for public offerings also discourages IPOs these days and the rise of active investors has made venture capital big enough to support unicorns. How will corporate ownership evolve from here? What impact will this trend leave on the economy and society?

Filed Under: All Articles, Mergers and Acquisitions, Private Equity, Stock Exchange Tagged With: IPO

Fallouts of China’s Stock Market Crash

July 10, 2015 By Major Tian

China’s stock market crash left a host of casualties in its wake—from a weakened renminbi to plummeting commodity prices.

Filed Under: All Articles, Finance, Infographics, Stock Exchange Tagged With: Alibaba, Baidu, Exchange Rate, Government Regulation, IPO, PBOC, Slider, Stockmarket

China Roundup: Shanghai Stock Exchange Boom Has a Zero too Many

April 23, 2015 By Major Tian

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.

Filed Under: All Articles, China Round-up, Chinese Economy, Finance, Know China, Movie Industry Tagged With: Chinese Economy, Foreign Investment, Fosun, IPO, PMI, Slider, Stockmarket, UnionPay, Visa

China Roundup: Why Dalian Wanda’s Wang Jianlin is not the richest man in China

December 24, 2014 By Major Tian

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.

Filed Under: All Articles, China Round-up, Digital Economy, Finance, Know China, Real Estate, Stock Exchange, Technology Tagged With: CSRC, IPO, Jack Ma, Property, Slider, Smartphone, Technology, Uber, Wanda, Xiaomi

The Variable Interest Entity seems like a “Deliberate Nod and Wink”

October 29, 2014 By Mark Dreyer

Michael Brennan, a renowned academic in finance, on the variable interest entity structure, China’s capital markets and the internationalization of the renminbi.

Filed Under: All Articles, Chinese Economy, Connections, Economy, Finance Tagged With: Banking System, Currency, Government Regulation, Inflation, Investment, IPO, Slider, Variable Interest Entities, VIEs

China Roundup: The Chinese economy and structural changes; Baidu Eye; and Apple’s New Problem

September 5, 2014 By Major Tian

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 […]

Filed Under: All Articles, China Round-up, Chinese Economy, Digital Economy, Know China, Manufacturing, Policy and Law, Technology Tagged With: Apple, Baidu, Car Rental, Google, HSBC, IPO, Labor, Loans, Local Government, PMI, Slider

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Information, analysis, and interviews about the Chinese economy and doing business in China, from the people who know it best. Presented by the Cheung Kong Graduate School of Business, China's leading business school.


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