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Beijing Report Exposes Serious Fraud In How Non-Performing Loans Are Handled In China

A report released recently under the guidelines of China’s State Council has detailed serious fraud in how some non-performing loans (NPL) are handled in China. By highlighting the illegal activities taking place in China’s booming NPL market, Beijing is signaling an increased focused on stamping out corruption in the market and what measures it will likely take to correct the problem in 2018.

Bain Capital Eyes Diversified Distressed Deals In China Ahead Of A Long, Flattened Credit Cycle

For global alternative investment manager Bain Capital, the first closing of its Asian credit fund at US$557 million came at the right moment. Bain Capital Credit, the credit affiliate of the firm with more than US$35 billion in assets under management globally, is building a war chest in Asia for the first time to tap into maturing distressed debt investment opportunities emerging across the region.

Restructure Zombie Firms To Boost China’s Economic Growth Says IMF

Non-performing “zombie” firms and debt-ridden state-owned enterprises (SOEs) are an increasing drag on China’s overall economy, and fixing them, through deleveraging, reducing government subsidies, as well as operational restructuring could enhance long-term economic growth by 0.7 to 1.2 percentage points per year, according to a new report by the International Monetary Fund.

As China’s Economy Slows, New Wave Of Restructuring Brings On Fresh Investment Opportunities

As China’s economy slows down and local business environment becomes increasingly uncertain, some foreign companies are pulling back from China. Earlier this month, Amazon.com Inc agreed to sell some of its Chinese cloud assets to its local partner, after local laws that mandate the storage of data within the country and increasing competition from local players such as Alibaba and Tencent. American healthcare firm Cardinal Health has agreed this month to sell its Chinese pharmaceutical and medical-products distribution business in …

Andrew Brown: China Committed To Market-Based Solution To Excess Debt Challenge

China Money Network’s Special Situations Team brings you the first of our new “Industry Specialist” series, sitting down with Andrew Brown, partner for Macro and Strategy at ShoreVest Capital Partners, Ltd. Hong Kong to seek his opinions on the growth of China’s distressed debt market and the rewards and risks it offers investors in the region. ShoreVest Partners is an institutional private investment firm specializing in Chinese distressed debt and structured credit. The ShoreVest team has managed US$1.6 billion of distressed …

Recent IPOs Prove Chinese Companies Lie About VC Funding Rounds

As more Chinese companies go public it’s becoming increasingly clear that many of them have lied about the level of funding they received as private companies, and thus their pre-IPO valuations. The latest example is Rong360 Inc., once listed on China Money Network’s China Unicorn List with a US$1 billion valuation. The company is planning a U.S. listing for its wholly-owned subsidiary Jianpu Technology Inc., raising up to US$200 million, according to its IPO prospectus filed with the U.S. Securities …

Will Shared Phone Chargers Be The Next Big Thing In China?

It’s hard to predict which new products will take off and which will flop. The Segway was launched in 2001 to much media interest, but quickly became the subject of ridicule and fell into obscurity. Fifteen years later, the “hoverboard” – essentially a Segway without handlebars – somehow became one of the most sought-after Christmas gifts, with hundreds of factories in China churning out the two-wheeled trendsetter.

China Money Network Launches Its China Unicorn Ranking With 102 Firms Worth $435B

We live in the age of unicorns. Since the term was coined in 2013 by venture capitalist Aileen Lee to describe start-ups valued at US$1 billion or more, unicorns have multiplied with incredible speed. The unicorn, symbolizing the statistical rarity of such successful ventures, has become almost commonplace. With 193 unicorns globally worth US$664 billion in total*, unicorns also reflect the rise of private capital and investor euphoria over the promise of technology, especially in China.