Despite the trade tensions between China and the US, many tech companies from China still turn to American stock markets for their need for capital. Shanghai-based VC William Bao Bean explains why China’s markets can still not match the capital requirements of domestic companies, he tells at Emerge 2020.
The massive US$34.5 billion IPO by Jack Ma’s Ant Group has been derailed by regulatory action, days before its listing, and that does not make the investors happy, says political analyst Shaun Rein at AP. The decision also might rattle Chinese entrepreneurs who were considering selling shares on their own country’s market, said Rein.
The world never saw so much reaction of wealth as during 2020, says Rupert Hoogewerf, chief researcher of the Hurun China Rich List, despite the coronavirus crisis triggered off by COVID-19. Even seasoned rich-research Hoogewerf is amazed by the number of billionaires China created over the past months, he tells Devdiscourse, citing the newly released Hurun China Rich List 2020.
Not authoritarian rule but solid support from China’s citizens allowed its government to beat the Covid-19 and effectively deal with the coronavirus crisis, argues Singapore-based journalist Ian Johnson, in the New York Review of Books. He uses the Wuhan Diary: Dispatches from a Quarantined City by Fang Fang, to show the government did not silence critics but did win majority support by its people, helped by indeed heavily manipulated media in China.
Zhong Shanshan, the owner of bottled water producer Nongfu became through its IPO suddenly one of the wealthiest people in China, in a time when IT in a post-COVID economy seems to be leading, says Rupert Hoogewerf, chairman of Hurun, the China Rich List to the China Daily. Consumption tycoons have become the winners in post-COVID China, he adds.
TikTok has already decided to leave Hong Kong and other Western social media like Facebook and Google are trying to figure out what to do after China introduced its national security law to Hong Kong and they might have to cooperate with local police. Business analyst Shaun Rein suggests they would better off leaving Hong Kong altogether, in the South China Morning Post.
The Wall Street Journal and Bloomberg are increasingly behaving like biased activists when it comes to China, says business analyst Shaun Rein at the state-owned CGTN. “I’m a big believer that they should have critics of China quoted, but then they should also have supporters of China quoted,” he argues.
While birds are taking over many international airports, China’s second largest airline company China Eastern has launched a new airliner with a focus on its touristic Hainan. Business analyst Shaun Rein argues this is actually a good idea, even though much of the airline industry is still on its back after the coronavirus crisis, he tells at the BBC.