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26 июня, 00:22

Без заголовка

**Must-Read: Minxin Pei**: Xi Jinping’s war on the ‘financial crocodiles’ gathers pace: "Beijing will pass off a politically motivated purge as tough regulatory enforcement... >...Making an example of China’s wealthiest tycoons can... rein in overly aggressive business practices endangering the stability in China’s overleveraged and under-regulated financial sector. But the political benefits... are likely to be even more significant. A large number of these tycoons had made their immense fortune before Mr Xi’s ascent to the top in late 2012.... For example, Wu Xiaohui, Anbang’s chairman who has recently been detained, is married to a granddaughter of Deng Xiaoping.... Connections, once priceless assets, have become dangerous political liabilities now that the same officials have either retired or fallen victim to Mr Xi’s anti-corruption campaign. By cleaning out China’s financial system, Beijing is able not only to restore some semblance of order in this vital sector, but also to get rid of tycoons with dubious political loyalties. Carrying out such a purge is relatively easy. Since many Chinese tycoons depend on state-owned banks for funding, the simplest way of pushing them under is to order the banks to cut off credit.... >This crackdown will be discriminating. A large number of Chinese...

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25 июня, 14:06

Anbang’s predicament amid bank-risk probe

Regulatory action comes as ban on product sales has hit cash flow

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25 июня, 14:06

Anbang’s predicament amid bank-risk probe

Regulatory action comes as ban on product sales has hit cash flow

23 июня, 11:20

Рынки Азии закрылись на мажорной ноте

В пятницу, 23 июня, азиатские фондовые индексы продемонстрировали преимущественно положительную динамику по итогам торговой сессии. Стоит отметить, что в первой половине торговой сессии фондовый рынок Китая находился под давлением после того, как регулятор банковского сектора Поднебесной приказал кредиторам провести проверку задолженностей крупных конгломератов, включая компании Anbang Insurance Group и Dalian Wanda Group. Из макроэкономической статистики в Японии был опубликован индекс деловой активности в промышленности, составивший в июне 52 пункта по сравнению с 53,1 пунктами в мае. Аналитики прогнозировали показатель на уровне 53,4 пункта. В Сингапуре был обнародован индекс потребительских цен, который в мае вырос на 1,4% г/г, что совпало с ожиданиями экономистов. Помимо этого, вышли данные по производству в обрабатывающей промышленности, которое в мае резко упало на 3,5% против прогноза -0,7%.

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23 июня, 10:53

China's Debt Crackdown Could Get Out of Hand

High flying Anbang and HNA are the latest victims of a broad crackdown on risk in China. The well-worn thesis that China would have a boring year ahead of its leadership summit has proven false.

23 июня, 08:28

Предупреждение о системных рисках обвалило акции КНР

Москва, 22 июня - "Вести.Экономика". Котировки ряда крупнейших компаний Китая обвалились после предупреждения со стороны финансового регулятора о том, что некоторые крупные компании могут представлять "системные риски" для экономики КНР. Официальные представители Комиссии по регулированию банковской деятельности на брифинге в четверг заявили о том, что регулятор оценивает "системные риски ряда крупнейших предприятий". Об этом в четверг сообщили ряд СМИ.

22 июня, 20:55

Предупреждение о системных рисках обвалило акции КНР

Котировки ряда крупнейших компаний Китая обвалились после предупреждения со стороны финансового регулятора о том, что некоторые крупные компании могут представлять "системные риски" для экономики КНР.

22 июня, 20:55

Предупреждение о системных рисках обвалило акции КНР

Котировки ряда крупнейших компаний Китая обвалились после предупреждения со стороны финансового регулятора о том, что некоторые крупные компании могут представлять "системные риски" для экономики КНР.

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22 июня, 11:22

Big China companies targeted over ‘systemic risk’

Regulator asks banks to probe their exposure to Dalian Wanda, Fosun, HNA and Anbang

19 июня, 11:20

Народный банк Китая манипулирует курсом bitcoin?

Доминирование Китая в сети bitcoin невероятно беспокоит технолибертарианских пуритан цифровой валюты, которые опасаются, что концентрация цифровой власти во второй по величине экономике в мире угрожает подорвать демократический характер криптовалюты.

19 июня, 11:20

Народный банк Китая манипулирует курсом bitcoin?

Доминирование Китая в сети Bitcoin невероятно беспокоит техно-либертарианских пуритан цифровой валюты, которые опасаются, что концентрация цифровой власти во второй по величине экономике в мире угрожает подорвать демократический характер криптовалюты.

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16 июня, 20:34

Anbang chairman's detention raises business concerns

The dramatic rise of Anbang's owner Wu Xiaohui, arrested by China's anti-graft authorities this week, had baffled industry experts. James Kynge talks to the FT's Lucy Hornby in Beijing about Mr Wu's detention and its implications for business

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16 июня, 20:18

A deal too far for China’s Anbang

The apparent fall from grace of the founder Wu Xiaohui has shone a spotlight on a brand of Chinese capitalism that has taken root in the financial industry

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16 июня, 13:01

How Anbang Could Clog China's Financial Plumbing

Financial stress at Anbang, a key lender to other Chinese financial institutions, could quickly ripple through China’s banking system.

16 июня, 09:27

Большинство фондовых рынков АТР растет в пятницу

Большинство фондовых индексов Азиатско-Тихоокеанского региона (АТР) растет в пятницу, восстанавливаясь после падения по итогам предыдущей сессии, пишет MarketWatch.

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15 июня, 22:36

Anbang Just Became A "Systemic Risk": Revenues Crash 90% As Its Chairman Is "Detained"

As reported earlier this week, overnight Bloomberg confirmed that Wu Xiaohui, the chairman of China's insurance conglomerate which recently made headlines in the US for nearly reaching a deal with Jared Kushner over 666 Fifth Ave., was detained by a joint team of Central Commission for "Discipline Inspection" and police for questioning. It adds that that Chinese investigators who detained Wu are carrying out a wide probe that includes looking into the sources of funding for the firm’s acquisitions overseas, possible market manipulation by insurers, and “economic crimes." The Wall Street Journal reported earlier that investigators were een checking whether Wu - whose fortune last year was calculated to be just over $1 billion - was involved in bribery and other economic crimes at Anbang and that Wu couldn't be contacted for comment. As noted on Wednesday, Anbang said Wu couldn’t perform his duties for personal reasons, a story which has since been disproved.  The authorities are said to be examining Anbang transactions including acquisitions overseas and their funding. According to Bloomberg;s sources, the probe also fits into a broader investigation of possible market manipulation by insurers, although they didn’t specifically define the term “economic crimes.” The action is the result of the government’s crackdown on a sector that is "supposed to help families and companies cut their financial risks, but has recently become a hub for rampant financial speculation." Yet while Wu's fate now appears sealed, swallowed by China and unlikely to reemerge any time soon if ever, questions have emerged about the viability of Anbang Insurance Group itself, which as the NYT reported overnight, has seen its growth come to a "screeching halt" as Chinese investors who helped fund its meteoric rise no longer want to have anything to do with the politically connected company which is "no longer in Beijing’s good graces." Specifically, according to government data released on Thursday, Anbang’s sales of life insurance policies and investment products, an key source of cash, stopped almost completely in April after tumbling sharply in March. It wasn't just Anbang: across the insurance industry, where the (ab)use of Wealth Management Products is prevalent, sales slowed in April compared with earlier in the year. More details: From January through March of this year, Anbang raised three-fifths as much money as it raised all of last year, government data shows. It has maintained a large stockpile of cash after a series of big investments fell apart, including a $14 billion bid for Starwood Hotels and Resorts and a deal for a Manhattan office tower with Kushner Companies, the family real estate firm partly owned by Jared Kushner, the son-in-law of President Trump and an administration adviser.   But Anbang’s latest figures are eye-catching for the opposite reason. Including new kinds of policies and wealth management products, it took in only $218 million in April this year, down from $5.92 billion in the same month last year, the government data on Thursday showed. That was the biggest Y/Y collapse in the company's premium income on record, and as a result Anbang is now under "acute" financial pressure. The NYT notes that "its revenue from existing life insurance policies and certain wealth management products was down 88 percent in April compared with the same month the previous year. The rest of the industry was up 4.5 percent in the same period." While largely ignored on the list of potential Chinese risk factors, Anbang's troubles could soon become systemic. In early May, Chinese insurance regulators ordered Anbang to stop selling two investment products. One, they said, was improperly marketed as long-term insurance while a crucial application for the other lacked an actuary’s signature. By that point, Anbang was already in trouble. Questions about Anbang’s financial strength had begun circulating on social media in China in March and April, as Chinese officials publicly raised questions about sales of wealth management products by some insurers. If the drop in revenue is steep enough, Anbang could eventually be forced to liquidate assets. A big factor will be what happens with its existing policies and investment products, which comprise China's shadow banking system. As the NYT adds, Anbang’s annual report provides little information on the monthly tempo at which its previously issued investments are maturing. The company might need to pay them out if they are not rolled over into further investments with the company. The company’s policies do have very stiff penalties on early redemption to discourage holders from turning them in early for cash. Anbang could raise money by selling some of its investments, but that could take time. Additionally, the conglomerate, which over the past 3 years was nothing short of the world's most aggressive "roll up" has been an active investor in Western hedge funds, in addition to making outright acquisitions of overseas companies. And those terms tend to impose severe limits on Anbang’s ability to ask for its money back quickly. That said, a firesale of Anbang assets, which include the Waldorf Astoria, should be a fascinating event. The biggest risk from a potential unwind of Anbang, however, is the fate of its billions in  WMP "assets" and whether any troubles at the insurer lead to investor impairment, and a potential run on China's $8.5 billion "shadow bank" considered by many as the Achilles heel of China's massively overlevered financial system.

15 июня, 17:54

A high-flying Chinese dealmaker has his wings clipped

“THE total number of airline miles travelled by this team is equal to a round trip between Earth and the moon.” So bragged Wu Xiaohui at a recruiting event held at Harvard University in January 2015. The boss of Anbang, a big Chinese insurer, was dazzling potential hires with his plans to go global. Anbang had shot to prominence just weeks before with a deal worth $2bn to acquire the Waldorf Astoria hotel in New York from America’s Hilton. Since then Mr Wu has attempted acquisitions around the world worth a total of some $38bn (see table). Political controversies have caused a number to unravel. One that recently fell apart was Anbang’s negotiation to take a $400m stake in a property in Manhattan, 666 5th Avenue, controlled by a firm owned by the family of Jared Kushner, President Donald Trump’s son-in-law. There were complaints about a potential conflict of interest on the part of Mr Kushner, who advises Mr Trump on relations with China. ...

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06 сентября 2016, 15:26

Zerohedge.com: Сын китайского “большого генерала” рассказал о том, что стоит за оттоком капитала из Китая

В течение последнего года две темы, связанные с Китаем, периодически привлекали внимание медиа: первая тема – которую мы осветили в начале марта – связана с волной странных сделок M&A в этой стране. Как мы поясняли тогда, многочисленные китайские корпорации в… читать далее → Запись Zerohedge.com: Сын китайского “большого генерала” рассказал о том, что стоит за оттоком капитала из Китая впервые появилась .