Earnings data compiled by research company Dazhihui showed that the total net profit of mainland-listed Chinese companies fell 1.1% to Rmb 2.47tn in 2015. According to the Financial Times, this was the first contraction since 2008. At non-financial companies, aggregate net profit in 2015 declined 15.7%. The big three oil companies, all state-owned, contributed significantly […]
Category: Business Practice
China is awash in a credit stimulus that is bigger as a proportion of GDP than the one that Beijing unleashed in the aftermath of the 2008/2009 financial crisis. However, the debt efficiency of the Chinese economy is at its lowest point since early 2009. Much of the new financing is not going into investment, […]
Federal regulators are investigating the accounting practices of Alibaba Group Holding Ltd., the e-commerce giant whose blockbuster U.S. stock-market debut helped win a wide following for Chinese tech firms. The Wall Street Journal reports the company disclosed Tuesday that the Securities and Exchange Commission asked Alibaba to provide details of its accounting for a delivery […]
According to the Financial Times, China’s construction equipment makers are ramping up the competition against global leaders such as Caterpillar, Komatsu and Deere and appear set to discount products to build market share, a new study has found. The Chinese companies — which include Sany, Zoomlion and XCMG — are likely to boost their market […]
LendingClub Corp. shares soared, as a Singapore-based investment group made the online lender the latest pickup in a recent U.S. shopping spree, The Wall Street Journal reports. Shanda Group, a private investment firm founded by Chinese Internet entrepreneurs, amassed an 11.7% stake in LendingClub, according to a regulatory filing. The stake, including shares and options, could […]