China Inc by BBW

China Tour Groups Return to the World, and China Inc.’s Latest Fundraising Frenzy

Chinese tourists return to the world en masse with the resumption of group tours from China on February 6. And eight U.S.- and Hong Kong-listed Chinese companies collectively raised more than $2 billion through new share and bond issues in January.

Foreign Money Floods Into China Inc., and Alibaba Picks Up an Activist Investor

A record $12.7 billion flowed into emerging debt and equity funds over a three-day period in mid-January, as investors rediscovered China after a nearly two-year lull. And an activist investor is lobbying Alibaba to buy back more of its stock. But will Alibaba listen?

New Year travel rush returns to China, and so does Australian coal

Millions of Chinese are taking to the road to go home for the Lunar New Year holiday, resuming the world’s largest annual human migration after a three year pandemic-induced pause. And Australian coal imports are also making a return to China after a similar hiatus, as the two countries look to reboot relations after a frosty period. 

Hong Kong SPACs off to slow start, and Ant Group’s growing independence

Hong Kong jumped on the global bandwagon for IPOs using special purpose acquisition companies, or SPACs, at the start of 2022. But a year later, the program has gotten off to a slow start. And Alipay operator Ant Group is declaring its independence from founder Jack Ma, leading some to say the fintech giant may be returning to favor with Beijing regulators.

Travel boom shapes up with end to ‘zero Covid,’ and TikTok hits new U.S. roadblock

China’s recent ending of its long-held “zero Covid” policy is unleashing big demand for travel, both domestic and international. And a proposed new U.S. law could mean big changes on the horizon for short video sensation TikTok, which continues to generate controversy due to its Chinese ownership. 

When does Covid end, and U.S.-China stocks get some good holiday news

China has officially ended its long-held “zero Covid” policy, but that’s just the beginning of its road back to normalcy. Experts predict a recovery could take months, while economists are upgrading their economic forecasts for next year. And U.S.-listed Chinese stocks get some holiday cheer from a positive report on an initial round of audits by the U.S. securities regulator under a new cooperation deal with its Chinese counterpart.

iPhone producer tries to tempt back wary workers, and vocational educators report strong growth

iPhone producer Foxconn is offering big bonuses for workers to return to its massive factory complex in central China, after many fled over fears of getting Covid. And two vocational educators have reported strong revenue growth in their latest academic years, buoyed by growing numbers of students choosing to continue their studies amid a dismal labor market.

China relaxes Covid restrictions, and China stocks rally in response

Numerous signs are emerging that after nearly three years of draconian measures to keep Covid out of China, the country is finally moving to a more western-style approach of learning to live with the virus. Sensing that, investors have started scooping up beaten-down Chinese stocks, sparking one of the biggest rallies for the group in more than a year.

Chinese miner Zijin gets a credit downgrade, and Fosun Pharma sells down its BioNTech stake

Chinese miner Zijin has been downgraded by Fitch after embarking on global buying spree this year, as Chinese resource companies hunting the globe for pricey strategic assets. And Fosun Pharma has sold down its stake in German mRNA vaccine maker BioNTech, banking big profits from a tie-up launched with fanfare at the start of the pandemic.

A local government in Henan stops paying its Covid testing bills, and England says ”no” to Chinese investment in its chip sector

The city of Xuchang in central China's Henan province stops paying its bills for testing millions of residents for Covid, reflecting the huge strain such expenses are putting on local finances. And Britain vetoes the sale of a Welsh chip plant to a Chinese buyer on national security grounds, even though the deal closed a year ago.