China´s campaign against corruption is no longer limited to state-owned companies and organizations, but increasingly turns against private companies too. A logical development, tells China rich list founder Rupert Hoogewerf in the Financial Times in an article about Fosun founder Guo Guangchang.
Category Archives: corruption
Guo Guangchang was the latest of China´s tycoons to get in trouble with the authorities. But the number of billionaires getting into the anti-corruption net is actually pretty low, says Hurun China Rich List founder Rupert Hoogewerf to Reuters. Lower than the number of government officials.
The surprise arrest of China´s Warren Buffet, Guo Guangchang, the chairman of Fosun international, has shocked the private sector, tells Rupert Hoogewerf, founder of the Hurun China Rich List at the International Business Times.
The anti-corruption campaign has hit China´s financial industry midships, and is now in the process of derailing the announced reforms, warns financial analyst Sara Hsu in the Diplomat, despite China´s inclusion into the IMF currency basket and the lifting of the deposit interest rate ceiling.
Guanxi, your informal network of friends and allies, might never be far away in China. But when it comes to the auditors of your firm, guanxi can get tricky. Accounting professor Paul Gillis reviews on his weblog a recent academic paper about this touchy issue.
Major securities firms are next in the anti-corruption drive by the central government. Paul Gillis, accounting professor at Peking University, cautiously welcomes last week´s moves, going beyond the initial hunt for culprits of this year´s market slump, he tells Bloomberg.
Previous political campaigns in China mostly fizzled out after a few months, but the anti-corruption drive – started by President Xi Jinping is staying. How is this affecting foreign companies? New York Times journalist Ian Johnson explains what has changed in China.
The anti-corruption campaign by president Xi Jinping has started to hurt the economy, tells business analyst Shaun Rein at CNN. Government officials and billionaires have become so afraid, very few decisions are being made.
China´s much needed anti-corruption drive has now put the country into a lock-down mode, and new projects have halted, tells business analyst Shaun Rein at CNBC. The cut in the reserve ratio ratio (RRR) this weekend is one way for a kickstart, although nobody know what will really work.