After two decades of negotiations, the end game of the struggle between the US and China on listed companies at the NYSE and Nasdaq seems to head into a delisting of 200 listed Chinese firms. Accounting expert Paul Gillis looks back at twenty years of tug wars at Market Place. Moving home, like to the Hong Kong Exchange, might not solve the need for capital, according to Gillis. “The Hong Kong exchange has arguably less liquidity than the U.S. exchanges,” Gillis said. “The investors may find it a little more difficult to get good prices when they’re selling stock.”
More Chinese cities overtake New York in their number of resident billionaires, Shenzhen being the latest, says Rupert Hoogewerf, chairman and chief researcher of the Hurun global rich list to NBC. “It is a significant indicator of where Shenzhen has come from and where it is going,” he said.
E-commerce firm Shein from Nanjing has been operating much under the radar, until last week it last week came with plans of an IPO in New York with a valuation of US$47 billion. E-commerce expert Matthew Brennan, author of “Attention Factory: The Story of Tiktok and China’s Bytedance” explains at Yahoo Finance what Shein has been doing right.
The aging founders of the first-generation modern companies in China are trying to survive their first generational switch and private equity funds try to help them digitize their operations to move on, says Winston Ma, adjunct professor at New York University School of Law and former managing director of the sovereign wealth fund China Investment Corporation (CIC) in the Global Finance Magazine.
In a last-ditch effort to cross China and hinder the president-elect Biden to set his own course, US President Trump has introduced regulation to ban Chinese companies from listing at US stock markets. Accountant specialist Paul Gillis looks at the ChinaAccountingBlog at the possible effect.
China has been banning US regulators at the PCAOB from getting access to information of Chinese companies at US stock markets, as they should do according to US regulations to protect its state secrets. But things are changing, notes auditing expert Paul Gilles at his weblog Chinaaccountingblog. “I suspect that Yi’s comments are a signal that China will back down on this issue, allowing joint inspections with adequate controls to protect state secrets,” writes Gillis.