Dropping stock markets have caused a bloodshed at the 2018 Hurun Rich List where 11% dropped off the list compared to 2017. But also 219 new faces entered the list, says Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher at their website. Alibaba’s Jack Ma became number one again, pushing out real estate tycoons.
Registering offshore, through so-called VIE’s or variable interest entities, is more popular than ever for Chinese companies, even though the Chinese government tries to stop this circumventing trick. Tencent Music Entertainment was the last one to use it for its IPO and get away with it because investors seldom read the disclosure, says Paul Gillis, accounting professor at the Peking University, at the Nikkei Asian Review. And for good reasons.
Marketing veteran Ashley Dudarenok explains on her daily vlog why thinking that China is cheap is a misconception. Picky Chinese consumers like to consume, but not necessarily what you have…
Those who hope worst is over in the trade war the US is conducting against China might be very wrong, wrote economist Arthur Kroeber, author of China’s Economy: What Everyone Needs to Know®, last week, according to Goldseek.com.
For investors the prospects for North-Korea are similar to China in 1978, says superinvestor Jim Rogers, author of Street Smarts: Adventures on the Road and in the Markets, according to the Korean medium Hankyoreh. “If North Korea introduces reforms and openness, it will achieve rapid economic growth in the double digits or higher.”
Tencent watcher Matthew Brennan has an in-depth look at how the recent reorganization of the internet giant reflects on the internet in China, especially how the company that became big through WeChat and B2C moves towards a more industrial approach, he writes on his weblog at China Channel.
The new trade agreement between the US, Mexico, and Canada (USMCA) excluded possible free-trade agreements between the three with China. Trump has its hands free to focus his trade war on China, says economist Arthur Kroeber, author of China’s Economy: What Everyone Needs to Know®, at the South China Morning Post.
China has changed its income tax for the first time in seven years, beneficial for the lower income groups, and less for the high earner. Financial analyst Sara Hsu discusses the purpose: more spending might be a motive, but as aging and health care costs loom, many might opt for saving, she says at CGTN.
The trade war between the US and China has up to now mainly hit headlines, nervous traders and heated political debates, but there is no doubt consumers will feel the burnt too, says financial analyst Sara Hsu to Reuters. Moving away from China is mostly not an option, she says. “It can take up to five years to move from China to another country.”
China’s central government and the Vatican closed a deal on appointments of Catholic bishops in China, causing debate among the already divided Catholics in the country, writes journalist Ian Johnson, author of The Souls of China: The Return of Religion After Mao at the New York Times. The way the Communist-ruled state church might integrate with the Roman Catholic church might not please all Catholics, he writes.