The net worth and source of wealth for the richest person on each continent. It includes Jeff Bezos, who is now the world's richest person overall. The post The Richest Person on Each Continent appeared first on Visual Capitalist.
На одно мгновение показалось, что Китай возвращается к маоистскому управлению экономики.
На одно мгновение показалось, что Китай возвращается к маоистскому управлению экономики.
FOR a moment it seemed China was reverting to Maoist economic management. On the sidelines of the Communist Party congress this month, an official told Xi Jinping that her village distillery sells baijiu, a potent spirit, for 99 yuan ($15) a bottle. Mr Xi, China’s most powerful leader since Mao, remarked that this seemed a bit dear. The chastened official thanked him and pledged to follow his guidance. But Mr Xi gestured her to stop. “This is a market decision,” he chuckled. “Don’t cut the price to 30 yuan just because I said so.” The audience, perhaps relieved that Mr Xi had no intention of dictating the price of booze, broke into laughter. This rare spot of levity at the dreary five-yearly congress was telling. The occasion cemented Mr Xi’s unrivalled position at China’s apex. For companies, the question is what he will do with it. His vision can seem ominous. In a speech laying out his plans, he made it clear that the party is all-powerful...
Рейтинг богатейших людей Поднебесной «Хужунь» публикует ежегодно с 1999 года
Hurun report highlights impact of Beijing crackdown on debt-fuelled foreign deals
Wang Jianlin has learned it’s not so easy being a billionaire corporate acquirer in modern day China.
Wang Jianlin says some people are spreading rumors about his Dalian Wanda group to "make trouble."
Chinese billionaire Wang Jianlin is fighting back against talk that his sprawling business empire is in trouble.
You've got to know when to hold 'em, know when to fold 'em, know when to walk away and know when to run.
When a high-profile business figure gets caught in the Chinese Communist Party’s crosshairs it’s nearly impossible to get out.
Состояние председателя правления компании Dalian Wanda Ван Цзяньлиня, согласно последним данным американского журнала Forbes, составляет около $32 млрд
Key Wanda businesses include AMC, the U.S. theatre chain
Пекин, 11 июля /ChinaPRO.ru/ – Wanda Group, принадлежащая китайскому миллиардеру Ван Цзяньлину, продала 76 отелей и 13 туристических объектов. Покупателем стала девелоперская компания Sunac China. Сделка, которая стала крупнейшей в истории рынка недвижимости КНР, будет закрыта до конца июля 2017 г. Общая стоимость проданных объектов составляет $9,3 млрд.
Компания Wanda Group, один из крупнейших китайских покупателей зарубежных активов, объявила о продаже отелей и туристических объектов компании-конкуренту. Сделка является крупнейшей в истории китайского рынка недвижимости.
The man who declared war on Disneyland just opened the world’s largest indoor ski resort. And now he’s being forced to sell it. As the South China Morning Post reports, Wanda City, the $6 billion resort development built by China’s wealthiest tycoon Wang Jianlin, opened for business two weeks ago. The resort, which, at 1.6 square kilometres, is the world’s largest indoor ski park. Now, it’s being sold along with the company’s other theme-park related holdings as Wanda Group seeks to pay down some of its enormous debt burden, which has recently attracted the scrutiny of Chinese authorities. The push into theme parks, part of the conglomerates debt-fueled global shopping spree involving several entertainment businesses, was partly an issue of national pride for Wang. When Disneyland Shanghai opened last year, drawing enormous crowds, Wang angrily declared “the frenzy of Mickey Mouse and Donald Duck and blindly following them is over,” according to the New York Times, and vowed that his theme parks would be even more successful. The announcement of the deal triggered a bizarre reaction when shares of Wanda Hotel Development (0169.HK) - which is mostly responsible for development of property projects outside of China -and which inexplicably surged more than 150% after news of the deal... even though none of the hotels being sold are included under this entity. As shown in the chart below, shares of Wanda Hotel Development exploded higher, the most since April 2013, after the news that its parent was selling hotel assets to Sunac, yet assets which were completely unrelated to 0169.HK. Located in the city of Harbin - near the country’s northern border with Russia - the resort features Russian architecture, a movie theater and a grand piano-shaped indoor ski resort that allows 3,000 people to ski or snowboard on six runs, all in an area covering 1.6 square kilometres. Up to 30,000 people will be hired to work in the resort, Wang said around the time of the opening. Harbin is also known for having China’s harshest winters. “Harbin is known as the city of ice, which also happens to be the main theme of this resort, so we will together provide winter sports throughout the year,” Wang said. According to the SCMP, skiing is gaining popularity in China, as the country prepares to host the 2022 winter Olympics in Zhangjiakou near Beijing. The indoor ski slope isn’t exactly exotic in Harbin, where the winter season can last as long as six months, with the lowest temperature plummeting to minus 36 degrees Celsius. The city’s main tourist attraction is its annual ice festival, featuring life-size sculptures carved out of ice. “This is a brand-new community that includes not only a theme park, but also a school, a hospital, housing and hotels,” said Andrew Kam, vice president of Wanda Cultural Industry Group, whom Wang hired from Hong Kong Disneyland. “There is nothing like this before.” Wang had pumped nearly 40 billion yuan ($6 billion) into the Harbin resort, since opening a similar-size Wanda City in Nanchang city in southeastern China’s Jiangxi province in May last year. Tickets to Wanda’s Harbin resort start from 68 yuan for a 2-hour tour of a snow castle for an adult, and as much as 488 yuan for unlimited use of the ski slope. By comparison, an adult ticket at Shanghai Disneyland costs start from 370 yuan during the low season and goes up to 499 yuan during the peak season. Wanda agreed to sell its theme-park business on Monday as part of a $9.3 billion deal involving 76 hotels and a major chunk of 13 tourism projects. Wang sold the portfolio to Sun Hongbin’s Sunac China in a deal worth 63 billion yuan (US$9.3 billion). All the proceeds from the sale will be used to repay bank loans, Chinese media Caixin reported. The sale comes after China’s banking regulator last month asked lenders to review loans made to big overseas deal makers, including Wanda, to assess whether their escalating debt posed a credit risk, the Wall Street Journal noted. While no wrongdoing was indicated, the revelation sent the stock prices of Wanda-related companies falling, while the yield on its bonds shot up. Wanda was cited on June 22 by the China Banking Regulatory Commission for special attention, along with the country’s three other biggest overseas asset buyers Anbang Group, Fosun Group and the HNA Group. The four must pay the equivalent of $11.5 billion in debt service by the end of 2018. Wanda said it’s disposing of assets to “fully exercise the competitive industrial advantage” with its buyer, but analysts, who already smell blood in the water, say the company may be buckling under the scrutiny of China’s banking regulator to pare back on debt. “Wanda may be feeling the financial pressure, or it won’t need to sell off so many assets,” said Liu Feifan, a property analyst at Guotai Junan International. “Wanda may badly need funding to support its expansion, but can’t count on rental income.” The company has confronted other failures earlier this year. Wanda had to abandon a $1 billion takeover of Dick Clark Production in March, after it failed to obtain regulatory approval to remit funds for the acquisition, incurring a $50 million breakup penalty. The company famously bought film-production studio Legendary Entertainment, which released the blockbuster “Jurassic Park III,” in early 2016, provoking fears among lawmakers that the company’s new Chinese owners would seek to influence how China is portrayed in US media. The deal is the single largest property transaction in Chinese history. Sunac China, the seventh-largest Chinese developer, was founded by Shanxi tycoon Sun Hongbin, one of the country’s most acquisitive property developers. The deal also shows how quickly companies will respond to regulators’ concerns. It raises the question: Will this be China’s preferred strategy for deleveraging its corporate sector? An ad-hoc approach where regulators single out companies for criticism, then allow pressure from investors to work its magic?
Overnight, a major M&A deal was announced in China, where local property giant Dalian Wanda Group announced plans to sell various Chinese tourism projects and hotels to Sunac China for $9.3 billion, dialing back its theme-park ambitions and in hopes of reducing its massive debt pile. The sale, the second-biggest real estate deal ever in China according to Reuters data, is supposed to help strengthen Wanda's case for a mainland listing after its property unit delisted from Hong Kong last year. For Sunac, it would mean ownership of a wide portfolio of tourism developments at a time when it is spending billions on property and technology assets. The details: Wanda said it would offload 91% of thirteen cultural tourism projects, which usually include theme parks and leisure complexes, and 76 hotels to the acquisitive Tianjin-based developer Sunac for 63.18 billion yuan, or just over $9 billion. After the sale, Wanda would, however, continue to play a role in operating and managing the projects. Wanda, which also has interests in films and sports, had plans to build at least 20 cultural projects around China. Its billionaire owner Wang Jianlin had last year said his "wolf pack" of parks would beat U.S. rival Walt Disney Co. "This (deal) signifies a retreat from Wanda's previous strategy in cultural tourism, and marks a pivot to an asset-light strategy," said Qin Gang, senior researcher at State Information Center, a government-linked think tank. The firm, which had earmarked a more than 300 billion yuan ($44 billion) investment for its cultural and tourism projects, did not give a reason for the sale to Sunac, but local business magazine Caixin quoted Wang as saying the deal would ease the debt burden on Wanda's property unit. "Through this asset transfer, Wanda Commercial's debt ratio will be greatly reduced, all the proceeds will be used to repay loans. Wanda Commercial plans to repay most of the bank loans this year," Wang told Caixin. Wanda is among the best-known Chinese offshore acquirors and has been very active globally, with deals for U.S. cinema chain AMC Entertainment Holdings, Hollywood film studio Legendary Entertainment, Infront Sports & Media AG and Spanish soccer team Atletico Madrid. * * * On the other side of the deal is Sunac, whose boss Sun Hongbin has also led the group on an acquisition spree, including paying $2.1 billion for the real-estate assets of Legend Holdings, parent of PC-maker Lenovo, and $2.2 billion for a stake in Leshi Internet, a unit of LeEco - a Chinese Netflix-to-Tesla-like conglomerate. The stake in Wanda cultural and tourism projects will cost Sunac 29.58 billion yuan. The price tag for the hotels is 33.6 billion yuan. While Sunac's shares have more than doubled in value this year, analysts quoted by Reuters worry Sunac could have bitten off too much. It has a negative outlook rating from Moody's, which said in April Sunac's leverage had deteriorated significantly due to large amounts of debt it had raised to support acquisitions. Oh well, if it hits a tipping point, it will simply get a bailout from China. * * * None of the above was particularly exciting; what was, however, is another small company caught in the crossfire, Wanda Hotel Development (0169.HK) - which is mostly responsible for development of property projects outside of China -and which inexplicably surged more than 150% after news of the deal... even though none of the hotels being sold are included under this entity. As shown in the chart below, shares of Wanda Hotel Development exploded higher, the most since April 2013, after the news that its parent was selling hotel assets to Sunac, yet assets which were completely unrelated to 0169.HK Just to make it clear that investors should not be buying its stock on the news, a Wanda Hotel Development representative said the deal announced between its parent group and Sunac China Holdings Ltd. has no direct impact on Wanda Hotel, the Hong Kong-listed company. But it was too late: the stock had already soared from 0.60 to nearly 1.50... ... before retracing only some gains. In a filing with the HK stock exchange later, the company said it wasn’t aware of any reasons that caused the surge in its share price and trading volume, and added that it was unaware of any information which must be announced to avoid a false market or any inside information that needs to be disclosed under securities rules. In short: for anyone who had read the press release of the deal, there was no reason at all to buy Wanda Hotel Development, and therein lies the rub, because what the algos did do, is buy first and ask (maybe) questions later. The result: a stock which nearly tripled - for no reason at all - just because an avalanche of clueless algos bid it up, prompting even more clueless algos to chase the momentum, until a full blown buying frenzy on massive volume emerged. That the stock was very cheap and liquid, certainly helped. The take home message: with many instances of similar parent-OpCo patterns available in China, in which a massive publicly traded company has similarly named public spin offs in regional markets, traders should buy stocks not in potential tragets, but in those companies who have the same names and whose market cap is much lower, and wait for the next algo freak out to occur.
Сделка, которая будет закрыта до конца месяца, станет крупнейшей в истории рынка недвижимости Китая
Китайский конгломерат Dalian Wanda Group, принадлежащий самому богатому человеку Китая Ван Цзяньлиню, достиг предварительного соглашения с властями индийского штата Харьяна об инвестировании $10 млрд в строительство промышленной зоны в штате, сообщает агентство Bloomberg.