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25 июля, 08:11

«Серые носороги» угрожают растоптать китайскую экономику

В то время, как Запад беспокоится о так называемых «черных лебедях», у Пекина другая проблема с «животными». Высшие эшелоны китайской власти тревожат «серые носороги», огромные компании со множеством проблем, которые представляют серьезную угрозу всей экономике Поднебесной. По сути, это борьба с олигархией в китайском варианте.

24 июля, 03:47

"It Feels Like An Avalanche": China's Crackdown On Conglomerates Has Sent A "Shock Wave" Across Markets

The first to suffer Beijing's crackdown against China's private merger-crazy conglomerates, wave was the acquisitive "insurance" behemoth, Anbang, whose CEO Wu Xiaohui briefly disappeared as the Politburo made it clear that the "old way" of money laundering - via offshore deals - is no longer tolerated. Then, several weeks later and shortly after the stocks of the "famous four" Chinese conglomerates plunged after China officially launched a crackdown on foreign acquirers amid concerns of "systemic risk", it was HNA's turn, which as we described last week, risks becoming a "reverse rollup from hell", as HNA's stock tumbled, sending the LTV of billions in loans collateralized by the company's shares soaring and in danger of unleashing an catastrophic margin call among the company's lenders. Then Beijing's attention shifted to the biggest conglomerate of them all: billionaire Wang Jianlin’s Dalian Wanda Group, which as the WSJ and Bloomberg reported was being "punished" by Beijing, and would see its funding cutoff after China "concluded the conglomerate breached restrictions for overseas investments." The scrutiny could rein in Wang’s ambitious attempt to create a global entertainment empire, including Hollywood production companies and a giant cinema chain he’s built up through acquisitions from the U.S. to the U.K. Six investments, such as the purchases of Nordic Cinema Group Holding AB and Carmike Cinemas Inc., were found to have violations, said the people, who asked not to be identified discussing a private matter. The retaliatory measures will include banning banks from providing Wanda with financial support linked to these projects and barring the company from selling those assets to any local companies, the people said.   The move is an unprecedented setback for the country’s second-richest man, who has announced more than $20 billion of deals since the beginning of 2016. By targeting one of the nation’s top businessmen, the government is escalating its broader crackdown on capital outflows and further chilling the prospects of overseas acquisitions during a politically sensitive year in China. Summarizing the abrupt shift in sentiment in China was Castor Pang, head of research at Core-Pacific Yamaichi, who said that “to investors, political risk is now the biggest concern when investing in Chinese companies. Not only Wanda, every Chinese company won’t find it easy anymore to acquire assets overseas. Stabilizing the yuan is the top priority for Beijing now.” While it is not exactly clear just why Beijing so quickly soured on foreign transactions - as we explained back in 2015, it was abundantly clear back then these were nothing more than a less than sophisticated way to launder money offshore - unless of course the capital flight out of China is far worse than what Beijing would disclose, what has become quite clear is that Wanda was among the conglomerates including Fosun International, HNA Group and Anbang Insurance whose loans are under government scrutiny after China’s banking regulator asked some lenders to provide information on overseas loans to the companies. In other words, the foreign merger party is over. In fact, for some of the above listed 4 conglomerates, the party may be over, period. And now as the WSJ reported over the weekend, it has become clear that China’s government reined in one of its brashest conglomerates with the explicit approval of President Xi Jinping, "according to people with knowledge of the action—a mark that the broader government clampdown on large private companies comes right from the top of China’s leadership." The measures, with President Xi’s previously unreported approval last month, bar state-owned banks from making new loans to property giant Dalian Wanda Group to help fuel its foreign expansion. The cutoff in bank financing for the company’s foreign investments highlights Beijing’s changing view of a series of Wanda’s recent overseas acquisitions as irrational and overpriced. In short, and as noted above, Yuan stability above all. For the local market, the shift in Beijing's strategy is nothing short of a seismic shift: “It feels like an avalanche,” said Jingzhou Tao, a lawyer at Dechert LLP in Beijing, who does mergers and acquisitions work. “This is sending a shock wave through the business community.” * * * Regular readers are aware of what, until recently, was China's unquenchable thirst for foreign money laundering transactions, something we first pointed out at the start of 2016, and which had - until recently - grown exponentially. Since 2015, the four companies completed a combined $55 billion in overseas acquisitions, 18% of Chinese companies’ total. In recent days, however, as reported here 2 weeks ago, Wanda’s billionaire founder Wang Jianlin has been shrinking his empire by selling off assets and paying back the company’s bank loans. What is surprising about the sudden shift, is that Beijing had for years been encouraged Chinese companies to scour the globe for deals. Now, in a dramatic U-turn, it is reining in some of its highest-profile private entrepreneurs in what officials say is growing unease with their high leverage and growing influence. As the WSJ notes, "the measures serve as a stern warning for other big companies that loaded up on debt to buy overseas assets, officials and analysts say." How does the president fit into all of this? According to the WSJ, "Xi acted after China’s cabinet set the government machinery in gear by directing financial regulators, the economic planning agency and other bureaucracies to take a hard look at foreign acquisitions, once seen as a means for China to showcase its economic might." And, as previously reported, the crackdown started at Anbang and HNA, when Chinese banking regulators first ordered banks to scrutinize loans to Anbang in June, and other highfliers including airlines-and-hotels conglomerate HNA Group, which has pulled back on overseas investments. HNA said in a statement it continues to take a “disciplined approach” to identifying “strategic acquisitions across our core areas of focus.” Discussing the government's crackdown on conglomerates, officials at Fosun said the firm has “overseas funds and other stable financing channels,” including a fund of around U.S. $1 billion to invest, but emphasized it “fully respects the government regulations both in China and overseas markets.” Fosun has a listed unit in Hong Kong, and its strategy to invest in health care and technology “adheres to China’s global investment strategy,” said a spokesman, Chen Bo. In any case, the most likely outcome is that in the future China’s private companies will have trouble getting capital, which would help shift financial clout further in favor of big state-owned enterprises, which may also explain President Xi's change in opinion. Beijing’s sterner line comes as big private businesses and others have been amassing capital and influence that challenge the authoritarian Chinese leadership’s firm hold on the economy. Its grip has been tested over a bumpy few years. After a 2015 stock market meltdown and a botched government rescue, a gush of money flowed out of the country looking for better returns. That in turn put pressure on China’s tightly controlled yuan and foreign-exchange reserves, both seen by Beijing as barometers of confidence in the economy. It has also led to a chilling effect on Chinese outbound investment which has crashed as shown in the chart below. Putting the foreign merger spree in context, Chinese firms completed $187 billion in outbound deals last year, according to Dealogic, as private companies snapped up trophy properties, soccer clubs and hotels, while Chinese with means bought homes and pushed up real-estate prices from Texas to Sydney. The private sector’s share of overseas spending shot up from barely above zero about a decade ago to nearly half of China’s total overseas investments in 2016, before slipping back to 36.9% in the first half of 2017, according to Derek Scissors, a China expert at the American Enterprise Institute. But the most important factor, and among the main reasons for the current crackdown, is that amid the rush of investments, Beijing burned through nearly a trillion dollars in foreign-exchange reserves trying to steady the yuan. That ultimately led government regulators to clamp controls on money exiting the country and to scrutinize all proposed major offshore investments. Just as we predicted over a year ago would happen, once the government finally realized that all that M&A is nothing more than capital flight. As the WSJ puts it, "the latest scrutiny is a watershed moment in the Communist government’s relations with a private sector it has never been comfortable with. Though some senior leaders, particularly Premier Li Keqiang, are urging a new culture of startups and small businesses, Mr. Xi has promoted plans to make already-large state enterprises larger and strengthen their sway over the economy." There are other reasons for the crackdown too: one is the still fresh memory of what happened in Japan when it did the exact same thing. China is acutely aware that as Japan rose to economic prominence in the 1980s, its companies splurged on American real estate and other trophy assets, resulting in losses that cascaded through Japan’s banking sector. But mostly, it is about power and control: Mr. Tao, the Beijing lawyer, says the government’s new aggressive posture is driven in large measure by a need for control. “State-owned assets, whether in China or abroad, are still state assets,” he said. “But when private entrepreneurs take their money out, it’s gone. It’s no longer something that China can benefit from or the Chinese government can get a handle on.” And since in any power struggle between Chinese companies and Beijing in general, and Xi Jinping in particular, the latter will always win, the market's reaction was to violently selloff any big Chinese conglomerate stocks. An early sign of government discomfort with overseas spending was Anbang’s unsuccessful $14 billion bid for Starwood Hotels & Resorts Worldwide Inc. in 2016. Authorities expressed displeasure with the bold move, believing that Anbang had offered too much, according to a person with knowledge of the situation. Anbang, which had appeared unstoppable in 2014 when it struck a $2 billion deal to buy the U.S. Waldorf Astoria hotel, fell deeper in trouble. This past June, special government investigators looking into economic crimes detained Anbang’s chairman, Wu Xiaohui, who hasn’t appeared in public since. Separately, in the case of Wanda, regulators acted in the belief the company overpaid in efforts to expand beyond shopping centers and hotels and into entertainment, according to the people with knowledge of the action. Its largest such acquisition was of Legendary Entertainment, the Hollywood producer and financier behind films including “Jurassic World” and “The Dark Knight.” Wanda spent $3.5 billion to buy Legendary in 2016; In Hollywood, industry insiders widely believed the company paid too much. Legendary said this week that it is well-capitalized, operating normally and able to fund its film and television productions. As for HNA, recall that it was the stealthy buyer of Anthony Scaramucci's SkyBridge Capital, another deal which will soon fall under tremendous scrutiny, and which could be unwound in the coming weeks if concerns about conflicts of interest emerge again, only this time not between the US and Russia - especially once the "Russia collusion" story is finally over - but the White House and Beijing.

20 июля, 07:04

Взгляд с той стороны: как России привлечь китайские инвестиции?

В этом году у экономических отношений России и Китая есть все шансы выйти на качественно новый уровень. Или в очередной раз не сделать этого

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.

22 июня, 19:13

Stocks Of China's Serial Foreign Acquirors Crash Amid "Systemic Risk" Crackdown

Last February we described some of the "horror stories" of corporate leverage that emerged as a result of China's unprecedented offshore M&A spree that emerged in 2015 and raged through most of 2016: after all, with over $100 billion in foreign acquisitions, the bulk of the funding would inevitably come from debt. These were some of the examples we highlighted: Take Zoomlion, a lossmaking Chinese machinery company that is partially state-owned: its total debt stands at 83 times its EBITDA. "Zoomlion’s bid is a desperate attempt to remain relevant,” said Mr Pillay. Or how about Fosun, a serial Chinese acquirer that spent $6.5bn on stakes in 18 overseas companies during a six-month period last year, had a a 55.7x total debt/EBITDA in June 2015. "Fosun has bought brand names such as Club Med and Cirque du Soleil as well as a host of other assets including the German private bank Hauck & Aufhaeser." Or maybe the highly publicized purchase of China Cosco Holdings of the Greek Piraeus Port Authority for €368.5m. Cosco has promised to invest €500m in the Greek port despite having total debt at 41.5x its EBITDA! Or Cofco Corporation, which recently reached an agreement with Noble Group under which its subsidiary, Cofco International, would acquire a stake in Noble Agri for $750m (in the process preventing the insolvency of the biggest Asian commodities trader), has total debt equivalent to 52 times its EBITDA! Or how about Bright Food, which bought the breakfast group Weetabix for $1.2bn last year, and has total debt at 24 times EBITDA! The visual summary was far more stunning, and showed some Chinese foreign acquirers ompanies had levered up as much as 83x. As we summarized, "what is going on in China's massively overlevered corporate sector, is that virtually every company has become one massive "rollup" a la Valeant, hoping to deflect investors' and analysts attention from their deplorable credit metrics by engaging in a scramble of global M&A at any price, just to buy 1-2 more quarters of silence from skeptics, even as leverage continues to build at multiple turns of EBITDA every single quarter." The offshore merger spree did not last long: following a recent crackdown by Beijing on offshore (debt-funded) M&A, China's foreign acquisition spree came to a screeching halt earlier this year, when virtually no new Chinese deals have been announced. And now comes the hangover, because overnight China's regulator finally started a crackdown on the debt-funded mess that emerged in China as a result of this spree. It started with a report in China's Caixin, which said that the China Banking Regulatory Commission has expressed concerns about "systemic risks" at some big companies, which just happen to be China's most prolific overseas acquirers, and has asked banks to report their exposures to the companies after last year’s unprecedented outbound takeover spree. Warning companies can transmit risks to upstream and downstream industries and banks, the CBRC added that it will closely track risks when problems occur in big companies. More to the point, the CBRC ordered checks on HNA, Dalian Wanda, Fosun and other prominent foreign buyers and asked banks in mid-June to conduct risk analysis and check loans made to these companies. As Bloomberg adds, the regulator asked some banks to provide information on overseas loans made to Dalian Wanda Group Co., Anbang Insurance Group Co., HNA Group Co., Fosun International Inc. and the owner of Italian soccer team AC Milan. "The inquiries, which come a week after reports of an investigation into Anbang’s chairman, are likely to put a further chill on China’s outbound takeovers after tighter capital controls cut deal activity this year by 56 percent from the same period in 2016.  Why the crackdown now? By targeting some of the country’s most powerful tycoons, Xi Jinping’s government may be sending a signal of its commitment to cleaning up the financial system before a key Communist Party leadership reshuffle later this year, according to Bloomberg. “We are now in an environment where preventing financial risks is lifted as the top priority, so I think the regulators are trying to gauge the total exposure,” said Wei Hou, a Hong Kong-based analyst at Sanford C. Bernstein. “Regulators must have seen some red flags.” The market reaction was prompt, and led to the negative close of the Shanghai Composite noted earlier, despite the solid green start in Chinese trading: as news of the CBRC’s request spread through China’s financial markets on Thursday, shares of companies linked to Wanda and Fosun tumbled and the Shanghai Composite Index erased an early gain. The turbulence came less than 36 hours after MSCI Inc. said China’s domestic equities would join its benchmark indexes, a stark reminder for international money managers of the risks in a market where opaque regulatory decisions are commonplace. The market impact was swift as shares of billionaire Guo Guangchang’s Fosun and various related companies tumbled in Hong Kong, in line with the plunge of Wanda shares. Fosun fell as much as 9.6%, while Fosun Pharmaceutical Group dropped as much as 7.8%. The sudden drop dragged down the entire Chinese market. When asked by Bloomberg to comment on their sharp stock price declines all the named companies denied they had any idea what was going on: Fosun spokesman Chen Bo said “all is normal” at the company, representatives at Anbang and Wanda declined to comment, while HNA didn’t immediately comment. A representative for AC Milan’s owner didn’t return calls seeking comment. The regulator, however, provided some additional details: Zhiqing Liu, a deputy director at the CBRC, said "we are generally concerned with systemic risks posed by big firms." The CBRC required banks to provide information on loans related to the five companies’ overseas investments, especially in property, cinemas, hotels, entertainment businesses and sports clubs, people familiar with the matter said. Banks need to submit their assessment of potential risks for such investments and any measures they have in place to deal with risks, the people said. We have previously profiled the extensive acquisitions undertaken by Chinese companies, but here as a reminder, is the case study of HNA, an "acquisition airline group" as the FT puts it. HNA has announced more than $30 billion of asset purchases since last year, according to data compiled by Bloomberg, ranging from from stakes in hotel operator Hilton Worldwide Holdings Inc. to asset manager SkyBridge Capital and Deutsche Bank AG.   Wanda has spent more than $10 billion, including the purchase of Hollywood film producer Legendary Entertainment, since 2016.   Fosun, which owns stakes in Club Med and Cirque du Soleil Inc., has also been pursuing billions of dollars of assets overseas.   Anbang’s international holdings include New York’s Waldorf Astoria hotel. Among the more notable acquisitions by these Chinese companies were AC Milan, Club Med, the Wolverhampton Wanderers Football club, Cirque du Soleil, and real estate in NYC, London, and Sydney, but that period of wanton foreign purchases, many of which led to what was dubbed the "Chinese M&A premium", is now over. To be sure, as a result of last year's crackdown on capital outflows, today's move was largely expected: as Bloomberg points out, "Chinese policy makers have already made it more difficult for acquirers to move money overseas as the government tries to stem capital outflows and prop up the yuan. The curbs have contributed to a spate of canceled deals, including the $1 billion purchase of Dick Clark Productions Inc. by billionaire Wang Jianlin’s Wanda. This year’s drop in announced deals is the biggest for a comparable period since the depths of the global financial crisis in 2009, according to data compiled by Bloomberg." Meanwhile, the focus on banks’ exposures to foreign acquisitions comes against a backdrop of tightening financial conditions in China and a regulatory crackdown on risky behavior by banks, shadow-lending institutions and insurers, as well as the detention of the chairman of one of China's most aggressive foreign acquirors: Anbang. As reported last week, Anbang’s Chairman Wu Xiaohui was detained as part of a probe that includes looking into the sources of funding for Anbang’s overseas acquisitions, possible market manipulation, and “economic crimes." Anbang said last week that Wu was unable to perform his duties for personal reasons. * * * Meanwhile, going back to the Chinese stock market which just two days ago was added to the MSCI EM index, the Beijing intervention showed just why anyone rushing to invest in China may want to think twice. “I don’t think it’s the right time to invest or buy into these companies,” said Alex Wong, director at Ample Capital in Hong Kong. “Sometimes this kind of event can accelerate very quickly.” And while the latest Chinese crackdown is bad news for local stocks, it is good news for US equities where the Chinese potential "merger premium" can now be eliminated, resulting in a fractionally more rational market. As for how far Beijing's attempt to "normalize" its corporate sector will reach, and whether it will lead to even more deflationary outflows from the mainland, jury selection has only just started.

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20 июня, 12:54

Рыболовлев продал последний крупный актив в России

Сумма продажи «Военторга» не разглашается, но, по оценке экспертов, она могла составить 10-11 млрд рублей

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07 июня, 13:50

СМИ: китайский Fosun претендует на покупку The Body Shop у L'Oreal

Китайский фонд Fosun International претендует на приобретение у французского концерна L'Oreal британской марки The Body Shop, передает RNS. По имеющимся данным, компания из КНР уже внесла предложение о покупке. Помимо Fosun, в число ...

31 мая, 20:15

РФПИ купит 0,28% "Полюса"

Российский фонд прямых инвестиций подписал c Polyus Gold International Limited, основным акционером ПАО "Полюс", соглашение о приобретении миноритарного пакета акций компании. Речь идет о принадлежащих в настоящее время PGIL 354 095 обыкновенных акций компании, что соответствует примерно 0,28% от всего объявленного акционерного капитала. Цена за акцию для сделки с РФПИ будет аналогична цене за акцию в рамках объявленной ранее сегодня PGIL сделки с консорциумом во главе с Fosun International Limited ($70,6025 за акцию). Закрытие сделки с РФПИ ожидается до конца 2017 года и зависит от соблюдения ряда условий, включая завершение сделки с Fosun .

31 мая, 20:11

Китайская Fosun покупает 10% акций "Полюса" по $70,6 за бумагу

Polyus Gold International Limited заключила соглашение о продаже 12 561 868 принадлежащих ей обыкновенных акций ПАО "Полюс", что соответствует 10% уставного капитала компании без учета казначейских акций по цене $70,6025 за акцию консорциуму инвесторов во главе с Fosun International Limited. Помимо Fosun, в состав Консорциума входят Hainan Mining Co., Ltd и Zhaojin Mining Industry Company Limited, также частично принадлежащие Fosun. В рамках соглашения PGIL одновременно предоставила консорциуму опцион на приобретение не позднее 31 мая 2018 г. дополнительно до 5% от уставного капитала компании по цене $77,6628 за акцию при условии завершения сделки по приобретению основной доли. Стоимость основной доли отражает оценку 100% уставного капитала компании примерно в $9 005 млн. Цена реализации опциона подразумевает премию в 10% к оценке основной доли, что предполагает оценку стоимости компании на уровне примерно в $9 906 млн за 100% от уставного капитала.

29 мая, 15:07

Fosun International планирует приобрести активы Origin Energy

Согласно информации из осведомленных источников, китайский конгломерат Fosun International заинтересован в приобретении нефтегазовых активов австралийской фирмы Origin Energy. Сообщается, что стоимость соглашения может составить 2 млрд австралийских долларов ($1,5 млрд), а консультантами в рамках сделки выступают UBS, Macquarie и Bank of America Merrill Lynch. Стоит отметить, что компания Origin сообщила о том, что намерена отделить свой нефтегазовый бизнес в отдельное подразделение, которое получит название Lattice Energy, еще в декабре прошлого года. Известно, что в приобретении данного подразделения заинтересовано еще 4 компании.

29 мая, 13:03

Fosun International планирует приобрести активы Origin Energy

Согласно информации из осведомленных источников, китайский конгломерат Fosun International заинтересован в приобретении нефтегазовых активов австралийской фирмы Origin Energy. Сообщается, что стоимость соглашения может составить 2 млрд австралийских долларов ($1,5 млрд), а консультантами в рамках сделки выступают UBS, Macquarie и Bank of America Merrill Lynch. Стоит отметить, что компания Origin сообщила о том, что намерена отделить свой нефтегазовый бизнес в отдельное подразделение, которое получит название Lattice Energy, еще в декабре прошлого года. Известно, что в приобретении данного подразделения заинтересовано еще 4 компании.

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26 мая, 14:13

Fosun International продаст часть своих активов

Китайский конгломерат Fosun International договорился о продаже части своих активов ритейлеру золота и ювелирных украшений Shanghai Yuyuan Tourist Mart в рамках реорганизации своего бизнеса. Сообщается, что, по условиям соглашения, Fosun International продаст 28 компаний сферы недвижимости за 24,16 млрд юаней ($3,5 млрд). Между тем, Shanghai Yuyuan с целью финансирования данной сделки выпустит 2,24 млрд новых акций по цене 9,98 юаня за каждую, а доля Fosun в Shanghai Yuyuan увеличится с 26,45% до 69,69%.

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26 мая, 12:38

Fosun International продаст часть своих активов

Китайский конгломерат Fosun International договорился о продаже части своих активов ритейлеру золота и ювелирных украшений Shanghai Yuyuan Tourist Mart в рамках реорганизации своего бизнеса. Сообщается, что, по условиям соглашения, Fosun International продаст 28 компаний сферы недвижимости за 24,16 млрд юаней ($3,5 млрд). Между тем, Shanghai Yuyuan с целью финансирования данной сделки выпустит 2,24 млрд новых акций по цене 9,98 юаня за каждую, а доля Fosun в Shanghai Yuyuan увеличится с 26,45% до 69,69%.

12 апреля, 01:09

Alibaba-Backed Best Logistics Sets For $1 Billion U.S. IPO

Best Logistics Technologies Ltd, a Chinese logistics company backed by Alibaba Group Holding (BABA), could be this year's biggest initial public offering from a Chinese company in the U.S. listings.

29 марта, 19:01

Surprise reshuffle at Fosun to hit group

FOSUN International Ltd, one of China’s most aggressively acquisitive conglomerates, said its chief executive and vice president stepped down in a surprise reshuffle that has raised concerns over the

24 марта, 20:16

Get while the gettin’s good

Chinese dollar-bond issuers are having a moment in the sun. A recent regulatory tweak allowing businesses to make onshore guarantees to offshore buyers has attracted yield-hungry foreign investors. But as

21 октября 2013, 13:46

Смена хозяев

Когда мне на глаза первый раз попалось сообщение о том, что ранее принадлежавшее JPMorganChase здание штаб-квартиры на ChaseManhattanPlaza, 1 за 725 миллионов американских дензнаков купила некая компания FosunInternational, я не придал этому особого значения. В мире много компаний, которые занимаются недвижимостью, в том числе и спекулируют ею. Однако мне пришлось в корне изменить свою первоначальную оценку после того, как выяснилось, что FosunInternational – это не просто какая-то компания, а китайская компания. Более того. Это крупнейший частный китайский конгломерат, инвестирующий в товарные рынки, недвижимость, фармацевтическую промышленность и многое другое. Также он известен под именем Shanghai's Hutchison Whampoa. В общем-то и это, наверное, не было бы значимой новостью, поскольку китайские компании активно скупают недвижимость в США, если бы не два момента, характерных именно и только для этого здания, построенного в 1950-ых годах под непосредственным контролем Дэвида Рокфеллера. Во-первых, это пять подземных этажей, на самом нижнем из которых располагается крупнейший в мире банковский сейф своими размерами превышающий футбольное поле. И, во-вторых, по свидетельствам очевидцев, возможность попасть из него в располагающийся через улицу Федеральный резервный банк Нью-Йорка, в котором, якобы, находится основная часть запасов физического золота в Соединенных Штатах. С учетом того, что за прошедшие два года Китай только согласно открытой информации купил более 2000 тонн золота, не считая того, что он является крупнейшим золотодобытчиком в мире, покупка такого здания китайской компанией может оказаться гораздо более интересным событием, чем это выглядит на первый взгляд. К тому же, по заявлению уважаемого финансиста Стивена Лееба (StephenLeeb), по имеющимся у него сведениям Китай хочет накопить еще 5000 тонн желтого металла, но не заинтересован в его покупках на уровнях в 2 – 2,5 тысячи американских дензнаков за унцию. Устраивать широкомасштабный экономический крах явно не в интересах Китая, имеющего на руках 1,3 триллиона американского долга, и уж тем более не в интересах Запада. Поэтому в процессе перекачки золота с Запада на Восток и американцы, и китайцы, похоже, плотно и активно сотрудничают. И отказать своему основному кредитору крупнейшая (по своим долгам) экономика в мире уже не в состоянии. В этих условиях подземный тоннель между Федеральным резервным банком Нью-Йорка и зданием на ChaseManhattanPlaza, 1 может оказаться весьма удобным и не привлекающим внимание посторонних путем прямой и непосредственной доставки физического золота с Запада на Восток. Китай неоднократно обозначал свою позицию в отношении американской валюты, кредитного рейтинга США и своего видения дальнейшего мироустройства. Однако маловероятно, что предложение использовать китайский бумажный юань вместо такой же бумажной американской валюты найдет какую-то существенную поддержку в мире. В то же время, если вместо бумажной ноты Федерального резерва США в качестве мировой резервной валюты будут предложены твердые и обеспеченные деньги, у них есть все шансы в кратчайшие сроки полностью вытеснить из обращения нынешние бумажные фантики. Деньги ценны сами по себе, и именно поэтому на протяжении многих столетий драгоценные металлы – золото и серебро – и были деньгами. Вполне возможно, что покупка китайской компанией бывшей штаб-квартиры JPMorganChase помимо всего прочего может оказаться и символическим актом того, что произошла смена хозяев. Не только у отдельного здания, но и в мире. Только это было сделано тихо, по-китайски.