Blog Archives

IPO-hungry tech firms might jump the queue in China – Paul Gillis

Financial authorities in Beijing are playing with the idea to give tech firms a faster-track IPO in China, says accounting professor Paul Gillis at his weblog. Taking away some of the cumbersome restrictions for IPO’s in China might lead to the expected ban of variable interest entity or VIE’s, a side-track allowing Chinese firms to list in the US, he suggests.

How to end double standards for US-listed Chinese companies – Paul Gillis

Oversight of Chinese companies listed in the US has been ongoing troublesome, as auditors miss access to much information considered a state-secret in China. Peking University accounting professor Paul Gillis told the U.S.-China Security and Economic Commission 26 January how to solve the conundrum

How capital flight and US treasuries are linked – Paul Gillis

China sees a massive capital flight, putting its currency, the yuan, under pressure. For that reasons, says accounting professor Paul Gillis to the VOA, are capital flight and China´s garage sale of US treasuries closely linked.

Big Four: hit by financial crisis and domestic competition – Paul Gillis

Accounting professor Paul Gillis dives further into the demise of the Big Four accounting firms in China, at his weblog. After a successful entry into the China market, both the financial crisis and domestic competition wiped away whatever advantage they had.

Financial experts at the China Speakers Bureau (updated)

Now a massive row of Chinese companies, including Alibaba, are preparing for IPO´s, both at home at abroad, insights in China´s financial industry are more important than ever,

The government wants to allow market forces to decide what financial direction the country is taking, and because more than even capital is owned by Chinese citizens, just looking at what the central government in Beijing is doing, is not longer good enough.

Big Four face rough market in China – Paul Gillis

Accounting professor Paul Gillis published on his weblog the annual top-10 accounting firms in China for 2015, based on audit revenue. PwC is still leading the pack, but might lose its no.1 position soon, and drop, like the other three foreign audit firms, losing ground to domestic competition, he predicts.

Risk management experts at the China Speakers Bureau (updated)

Foreign companies fear an increasing risk in China, now the government is tightening legal supervision, fighting corruption and banning business practices that were considered to be common up to a year ago. GSK might be one of the high-profile cases in the anti-corruption drive, but no foreign company or industry is not worried about those changes. The China Speakers Bureau can offer a range of experts on risk management in China.

Mobike: great service, but no viable business model – Paul Gillis

Emerging startup Shanghai Mobike expanded to Beijing, to the delight of its citizens. But while accounting professor Paul Gillis likes and uses their service, he does not see how this VC-financed operation is going to make any money, yet, he writes at this weblog.

Hong Kong proves selfregulating financial industry does not work – Paul Gillis

A turf war between the Securities and Futures Commission (SFC) in Hong Kong and Hong Kong Exchanges and Clearing (HKEx) over who should regulate new listings in Hong Kong proves selfregulating of the financial industry does not work, writes accounting professor Paul Gillis on his website.

China and US regulators move on US-listed Chinese firms – Paul Gillis

Both Baidu and Alibaba might be the first US-listed Chinese companies whose books are going to be checked buy the US regulator PCAOB, after a decade-long stale-mate where China refused such controls, citing state security. Accounting professor Paul Gillis is carefully optimistic, he tells the Wall Street Journal, but warns it is not yet a done deal.